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.
Biden: US will halve emissions by 2030
Brilliant news to begin the day of President Biden’s Leaders Summit on Climate – the US commits to more than halving its 2005 baseline emissions level by 2030.
The new target is a welcome confirmation of the new Administration’s recommitment to the Paris Agreement, to making policy guided by science, and to plotting interim targets on a credible pathway to net zero by 2050 or sooner.
The fact the US is in a position to pursue a halving of emissions by 2030 is testament to the hard work and commitment of US governors, mayors, CEOs, investors and civil society to keep alive the flame of climate ambition during the difficult past four years.
The Biden-Harris Administration has today sent the strongest possible signal from the world’s second-biggest emitter that the Race to Zero is truly on, and that those not yet in the Race will be left behind.
As one example, the vision to rapidly and fully decarbonize the country’s electricity grid within 15 years brings with it the exciting promise of new jobs, updated infrastructure and innovative new industries that can help the US compete on the world stage.
We look forward to further ambitious commitments at the Summit later today and in the weeks to come, from both national governments and the companies, investors, cities, states and regions that make up the “real economy” across the world, to whom we say “come join our #Race to Zero”.
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.