The G7 Summit in Hiroshima, 19-21 May, represents a pivotal moment for global cooperation and a commitment to building a resilient, equitable, and sustainable world for future generations.
Climate Champions welcome Biden-Harris AdministrationThe High Level Climate Champions welcome the inauguration of the Biden-Harris administration, which signals an urgent and energetic re-engagement by the US Government in the global drive to address climate change.
For four years, regions, cities, businesses and investors have acted as the responsible stewards of climate action in the US. We therefore welcome today’s inauguration of the Biden-Harris administration, which signals an urgent and energetic re-engagement by the US Government in the global drive to address climate change. The new US leadership team is, once again, placing climate action at the top of its agenda, with a commitment to immediately rejoin the Paris Agreement, decarbonise the power sector by 2035, and invest and support a rapid transition to a net zero economy by 2050 in line with 1.5°C. In doing so, the US will join other major economies now committed to carbon neutrality, as well as the thousands of actors who are already part of the Race to Zero emissions.
We are more determined than ever that COVID recovery and more ambitious climate action must go hand in hand. The US’ whole of government approach presents an unprecedented opportunity to stimulate green industries and innovation, and to promote a fair and equal society where sustainable jobs support a healthy environment. We must all pick up the pace and work together to bring to life our zero-carbon future.
As we embark on the Decisive Decade for our climate, in which we must halve global emissions, having the world’s largest economy and second largest emitter committed at the highest level of government is vital. The US was critical to reaching the Paris Agreement and we look forward to working with all levels of government, business and civil society to help make COP26 in November the critical turning point for achieving a climate-safe future.
Across the two weeks, non-State actors offered a wide range of actions, announcements, and events across thematic areas. This included the launch of the African Cities Water Adaptation Fund, an African-led insurance commitment to provide cover for up to USD 14 billion in climate losses, and the Sharm-El-Sheik Adaptation Agenda in partnership with the COP27 Presidency.
Africa Carbon Markets Initiative launched to dramatically expand Africa’s participation in voluntary carbon market
The new Africa Carbon Markets Initiative (ACMI), which was inaugurated today at CO27, aims to support the growth of carbon credit production and create jobs in Africa.