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Biden vows to double funding for developing nations to fight climate change

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In a speech at the U.N. General Assembly on Tuesday, President Biden announced that his administration will work with Congress to double funding for developing nations to fight climate change.

Video Transcript

JOE BIDEN: And my administration is working closely with our Congress to make critical investments in green infrastructure and electric vehicles that will help us lock in progress at home toward our climate goals. And the best part is, making these ambitious investments isn't just good climate policy, it's a chance for each of our countries to invest in ourselves and our own future.

It's an enormous opportunity to create good-paying jobs for workers in each of our countries, and to spur long-term economic growth that will improve the quality of life for all of our people. We also have to support the countries and people that will be hit the hardest and that have the fewest resources to help them adapt.

In April, I announced the United States will double our public international financing to help developing nations tackle the climate crisis. And today, I'm proud to announce that we'll work with the Congress to double that number again, including for adaptation efforts.

This will make the United States the leader of public climate finance, with our added support together with increased private capital and other from other donors, we'll be able to meet the goal of mobilizing $100 billion to support climate action in developing nations.

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