A similar deal worth about $8.5 billion was announced during the United Nations’ climate talks in Glasgow last year. Many of the high-end negotiations that have begun in Egypt in recent days are expected to be concluded by world leaders at the G20 meeting in Bali.
Friday’s talks were overshadowed by a host of US Democratic Party politicians celebrating their strong showing in the country’s midterm elections.
Before Biden’s arrival, a congressional delegation of 10 led by House Speaker Nancy Pelosi held a press conference earlier this year to call for the passage of a Biden-backed bill known as the Inflation Reduction Act, which would cost $369 billion ($554 billion) to support clean energy initiatives.
“One thing you should know is that we have left incrementalism in the dust,” Pelosi said at a news conference. “This is about transformation. We hope this COP27 will be the threshold we all cross to clear any doubt that we as a world are serious about saving the planet.”
But Mohamed Adow, a climate advocate and director of the think tank Power Shift Africa, said nearly a week after the two-week climate conference, the rich world was still abdicating their responsibilities to climate-sensitive countries and had made no significant progress in negotiations on the climate change. financing loss and damage caused by climate catastrophes in poorer countries.
Later, Pelosi led the delegation on an unannounced visit to the Ukrainian pavilion, where she chatted for a few minutes with a young Ukrainian climate activist named Victoria.
A member of the delegation, Gregory Meeks, chairman of the powerful House Committee on Foreign Affairs, said: The Sydney Morning Herald and The age that he was not ready to admit that the Democrats had lost control of the House of Representatives after the midterm elections.
Meeks, who recently visited Australia, Papua New Guinea and Palau to review the impacts of climate change, said Republicans have so far maintained a unified opposition to climate measures passed by Democrats.
Congresswoman Cathy Castor, chair of the House Committee on the Climate Crisis, said she believed fossil fuel companies had too much influence on the Republican Party, but that as the impacts of climate change continued to mount, some members of the party would eventually take action. supports.
“That change is going to have to come from the grassroots, and I think that’s one of the reasons the election was so close: young people, Generation Z and millennials showed up.”
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