The fight against climate change will be the hero on Thursday at the Summit of the Americas. United States President Joe Biden and Vice President Kamala Harris are promoting a series of actions to tackle the climate crisis, create green jobs, and enhance energy security. The agenda does come with some specific actions, although again general and long-term commitments abound, as in other matters addressed at the summit.
The United States intends to promote a clean energy economy on the continent, promote trade and investment in this field and enhance regional cooperation through the Renewable Energy Initiative for Latin America and the Caribbean (RELAC). Five new countries will work with the current 15 members of RELAC to achieve the goal of having 70% of installed capacity for renewable energy generation in the region’s electricity sector by 2030. Guyana, Jamaica and Barbados are assuming targets and Brazil and Argentina will support cooperation through this platform. The idea of the United States is to provide financial support for RELAC’s technical cooperation and to work with regional development banks, private financial institutions, and other partners to mobilize additional resources.
Kamala Harris will launch a US alliance with Caribbean nations to tackle the climate crisis, according to a senior US government official. It is about improving energy security, strengthening critical infrastructure and local economies in the face of climate challenges. The alliance, according to the same source, will be built around four pillars: improving access to finance for development; Facilitate development and investment in clean energy projects; Strengthening local capacities and deepening cooperation with Caribbean partners. The purpose is to meet the goals of the Paris Climate Agreement and the United Nations Sustainable Development Goals (SDGs).
Regional development banks will play a leading role in financing the massive investments needed to tackle the climate challenge. Given that the Inter-American Development Bank, the Latin American Development Bank (CAF), the Caribbean Development Bank (BDC) and the Central American Bank for Economic Integration (CABEI) have committed up to $50,000 million (over €46 billion) over the next five years in this In this context, the United States is working to improve coordination with these institutions to mobilize additional financing from the private sector and other sources. In addition, it will facilitate access to funding for countries that need it due to climate disasters such as hurricanes and floods, making grant criteria more flexible.
However, the Biden government maintains that it’s not just about money, but about helping define projects and providing the means and capabilities to get them started. The US plan is also considering training experts on climate change.
Elimination of Forests
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The United States will make a modest but tangible commitment to combating deforestation with a contribution of $12 million (€11 million) to Brazil, Colombia and Peru through Amazon Connect, to defend the Amazon. It is about reducing deforestation associated with logging and exploitation of raw materials and greenhouse gas emissions related to agricultural supply chains, while preserving biodiversity, improving livelihoods and increasing resilience to climate change, according to the same source from the Biden government.
One of the top positions in the Biden administration said: “It’s not just about stopping deforestation, globally, particularly illegal logging and deforestation, but also about restoring forests and other ecosystems that are so critical to achieving a carbon-neutral world by 2020. 2050″. .
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