Jakarta, CNBC Indonesia – President of the United States (US) Joe Biden suddenly apologized and expressed his regret to world leaders. He did this on the sidelines of the COP 26 climate summit in Glasgow, Scotland.
This is done not without reason. Biden apologized for the actions of his predecessor Donald Trump who withdrew from the global climate deal.
“I don’t think I should apologize. However, I apologize for the fact that the US in the last administration withdrew from the Paris Agreement and left us a bit behind,” he said in a speech on Monday (1/11/2021) local time.
He asserted that the argument that the deal killed economic opportunities was a big mistake. According to him reducing climate change is another way to improve the economy rather than harm.
“In the current catastrophe that is unfolding, I believe there are tremendous opportunities. Not just for the U.S. but for all of us,” he added.
He promised that there would be real action by the US. Not just words.
“The US is not just back on the table but hopefully leading by example. That’s why my government is working overtime,” he said.
“Climate change is already sweeping the globe… We have the ability to invest in ourselves and build a fair share of clean energy and in the process create millions of jobs and salary opportunities for the whole world.”
Earlier, the United Nations Trade and Development Agency (UNCTAD) said efforts around the world, including rich countries, were needed to tackle the climate crisis. Especially helping developing countries adapt to this.
According to UNCTAD, the cost of adapting to climate change in developing countries could reach US$ 300 billion by 2030. And, if mitigation targets are not met, up to US$ 500 billion by 2050.
However, the current level of funding is less than a quarter of the amount estimated for 2030. The report warns that relying on private finance, the program will not serve the countries that need it most.
UNCTAD also called for debt relief and restructuring for developing countries and for increasing the availability of capital for multilateral development banks. E
UN economists say this capital could be financed by green bonds or by reallocating subsidies from fossil fuels. According to the United Nations, the economic losses from climate disasters are proportionally three times worse in developing countries than in high-income countries.
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