Biden’s Statement on COP29 Conference Conclusion in Baku
TL/DR –
The US has reaffirmed its commitment to the Paris Agreement and seeks to restore its global climate leadership. At COP29, countries set a 2035 climate finance goal to help transitioning to clean economies in developing countries, promoting American-made electric products. The US intends to continue this work, supported by legislation like the Inflation Reduction Act and believes it is critical to accelerate efforts to achieve a cleaner, safer, healthier planet.
U.S. Returns to the Paris Agreement, Elevates Global Climate Leadership
In 2015, a historic pact known as the Paris Agreement saw nations across the globe joining forces to confront the climate crisis, pledging to protect our planet for posterity. On my first day in office, I moved swiftly to reestablish the U.S.’s commitment to this agreement, reinstating America’s global climate leadership and reaffirming international climate resolve.
Thereafter, my administration has harnessed our nation’s leadership to expedite international efforts, such as COPs 26, 27, 28, and 29. These initiatives have aimed to cut emissions, decrease energy expenses, create valuable jobs, preserve ecosystems and bolster resilience. This has also stimulated our economy.
Historic Outcome at COP29 and Ambitious International Climate Finance Goal
At COP29, thanks to a strong US delegation, we achieved another historic milestone. In Baku, we urged nations to make a critical decision: either subject vulnerable communities to escalating climate catastrophes, or act decisively and steer us towards a safer, better future.
Countries jointly established a bold 2035 international climate finance ambition. This will facilitate the necessary financial support from all sources that developing nations need to expedite their shift to cleaner, sustainable economies. It also offers new markets for U.S.-made products like electric vehicles, batteries, and more.
U.S. Continues Clean Energy Revolution with Landmark Legislation
Looking forward, we’re certain that the U.S. will continue to push this agenda. Our states, cities, businesses, and citizens will be backed by groundbreaking legislation such as the Inflation Reduction Act, the largest investment in climate and clean energy in history. Even though some might oppose or postpone the clean energy revolution unfolding in America and globally, it’s unstoppable.
I laud the Parties and the COP29 Presidency for achieving this result. While plenty of work still lies ahead for us to reach our climate objectives, today’s accomplishment brings us a step closer. On behalf of the American people and future generations, we will continue to hasten our efforts to ensure a cleaner, safer, healthier planet is within our reach.
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