On Friday, US Vice President Joe Biden will push China and other big economies to increase their efforts to battle climate change by reducing methane emissions, setting aggressive objectives for zero-emission cars, and cleaning up shipping.

Biden will also call on countries to spend $90 billion to accelerate the commercialization of clean technologies and to develop new fertilizers that reduce agricultural emissions and increase food security at the third virtual meeting of the Major Economies Forum (MEF) under his presidency, according to senior US officials.

The summit on Friday will be the biggest gathering of world leaders on climate change before the COP27 global climate conference in Sharm el-Sheikh, Egypt, in November.

According to the White House, Biden and Egyptian President Abdel Fattah el-Sisi will unveil a cooperative endeavor to develop climate resilience in Africa, while other nations are expected to join various emissions-reduction efforts.

The MEF’s member nations contribute for nearly 80% of global economic production and greenhouse gas emissions.

The White House said many nations were anticipated to declare new 2030 emissions goals under the Paris climate pact, but did not identify them.

The meeting comes at a crucial point, with Russia’s invasion of Ukraine driving up energy costs and exposing Europe’s heavy reliance on Russia for around 40% of the natural gas needed to heat houses and produce power.

According to a top US official, the Ukraine conflict has highlighted the necessity of decarbonizing transportation, rethinking fertilizer, and enhancing energy security.

“It’s … shown a very bright light on where the solutions are, and what it takes to get there,” said the official.

Officials claimed the US and other major gas producers and consumers will create a “global methane energy pathway” to give new technological and financial resources to reduce methane in the oil and gas industry, with the goal of eliminating normal gas flaring by 2030.

According to one of the officials, Washington intended to spend $21.5 billion on large-scale demonstration projects to achieve net-zero emissions and would encourage other nations to contribute to the whole $90 billion in expected investment requirements.

Officials said Biden, who issued an executive order last year demanding that half of all light-duty cars sold in the United States be zero-emission by 2030, would call on foreign leaders to follow that aim.

The US and Norway announced they will also establish a green shipping challenge at COP27 to urge governments, ports, and cargo owners to take real actions toward complete decarbonization by 2050.

Finally, the White House said that Biden will address the “devastating effect” of Russia’s invasion of Ukraine on the global food chain and set a target of generating $100 million in fresh financing for the development of alternative fertilizers by COP27.

Leaders from Argentina, Australia, Chile, Canada, the European Union, Germany, Indonesia, Japan, Saudi Arabia, Mexico, Norway, Nigeria, South Korea, Turkey, the United Arab Emirates, Britain, Vietnam, and France will also attend, according to the White House.

Source: Reuters


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