{"id":74781,"date":"2022-11-14T02:11:32","date_gmt":"2022-11-14T02:11:32","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/11\/14\/biden-pledges-usd-250-mn-to-support-adaptation-fund-but-pledges-fall-short\/"},"modified":"2022-11-14T02:11:32","modified_gmt":"2022-11-14T02:11:32","slug":"biden-pledges-usd-250-mn-to-support-adaptation-fund-but-pledges-fall-short","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/11\/14\/biden-pledges-usd-250-mn-to-support-adaptation-fund-but-pledges-fall-short\/","title":{"rendered":"Biden pledges USD 250 mn to support adaptation fund, but pledges fall short"},"content":{"rendered":"

<\/a> Biden warns \u201cthe very life of the planet\u201d is at stake: <\/strong>US President Joe Biden doubled down on climate change warnings during his speech<\/a> on Friday, saying that \u201cthe very life of the planet\u201d is at stake, as he made new pledges that aim to support the world\u2019s fight against climate change. The US doubled its pledge to its \u201cadaptation fund\u201d for poorer countries to USD 100 mn, and pledged a further USD 150 mn to support climate change efforts in Africa. Biden also promised the US will meet its emissions targets by 2030, after unveiling a plan<\/a> to cut methane emissions from its oil and gas industry to 87% below 2005 levels by 2030.<\/p>\n

But the pledges fall short of what developing countries need: <\/strong>Climate activists criticized Biden for failing to call wealthy nations for more climate change support for developing countries and for his \u201cradio silence\u201d on loss and damage finance, Reuters<\/a> reports. \u201cHe announced a slew of new climate programs, but he couldn\u2019t deliver what the developing world most wants \u2014 enough money to adapt to climate extremes,\u201d one expert said. A recent report<\/a> showed that developing countries will need USD 1 tn annually in external financing by the end of the decade to combat climate change.<\/p>\n

Biden\u2019s speech got a lot of play in the foreign press:<\/strong> Financial Times<\/a> | WSJ<\/a> | CNN<\/a> | Washington Post<\/a> | The Guardian<\/a> | NYT<\/a>.<\/p>\n

TRACKING + COUNTING ALL THE THINGS-<\/strong><\/p>\n

UN unveils satellite-based system tracking methane emissions: <\/strong>The UN unveiled on Friday its Methane Alert and Response System (MARS) to help detect methane emissions, the UN Environment Program (UNEP) said in a statement<\/a>. The system uses data from mapping satellites to identify methane hotspots and their sources, which the UNEP will use to notify governments and companies about the emissions \u201cso that the responsible entity can take appropriate action.\u201d<\/p>\n

The UN and global standard setter the International Organization for <\/strong>Standardization published a set of <\/strong>net-zero guidelines (pdf)<\/a><\/strong> to crack down on greenwashing and allow companies and organizations to align on net-zero emissions plans. The guidelines act as a \u201csingle core reference text\u201d that provides standards for a range of sectors, including automotive, oil and gas, aerospace and telecommunication. This comes after a UN report last week<\/a> criticized companies, banks, and cities\u2019 net-zero plans for being \u201crife with greenwashing.\u201d<\/p>\n

Countries accounting for half of the global economy have set out a year-long plan to cut <\/strong>industrial gas emissions<\/strong>, according to a United Nations Framework Convention on Climate Change (UNFCC) statement<\/a>. Countries including the US, Germany, Japan, Canada, and Egypt have agreed on 25 \u201cpriority actions\u201d to be unveiled at next year\u2019s COP28 in the UAE to help cut emissions across power, transport, steel, hydrogen and agriculture.<\/p>\n

OTHER HIGHLIGHTS FROM COP-<\/strong><\/p>\n

Egypt launched a program to \u201cdecarbonize existing oil and gas facilities\u201d<\/strong> as part of a new private-public decarbonization coalition with engineering giant Bechtel, according to a statement from the COP27 Presidency (pdf)<\/a>. Egypt currently has 126 energy efficiency projects in action and has invested some USD 2.4 bn in decarbonization saving around 7 mn tons of CO2 per year, according to the statement.<\/p>\n

\n

The Cairo-headquartered East Mediterranean Gas Forum also launched a regional<\/strong> decarbonization initiative for the oil and gas industry<\/strong>, the COP27 Presidency statement says, without providing further information. The issue of gas decarbonization was on the forum\u2019s radar last year<\/a>.<\/p>\n

The UAE unveiled 92 measures businesses can take to reduce emissions<\/strong>, according to a press release<\/a> picked up by Zawya. The second edition of its \u201cgreen business toolkit\u201d outlines the measures \u2014 including electrifying vehicle fleets and replacing raw materials with low-carbon alternatives \u2014 to help guide companies towards developing a net-zero strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Biden warns \u201cthe very life of the planet\u201d is at stake: US President Joe Biden doubled down on climate change warnings during his speech on Friday, saying that \u201cthe very life of the planet\u201d is at stake, as he made new pledges that aim to support the world\u2019s fight against climate change. The US doubled […]<\/p>\n","protected":false},"author":1,"featured_media":74782,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1230],"tags":[1265,1263,68,1268,1229,659,74,11,64,1264,1267,391,1266,1165,625,203,159,1210,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cop-watch-public-policy","tag-al-mansour-automotive","tag-bechtel","tag-carbon-storage","tag-climatech-run","tag-cop-watch-public-policy","tag-cop27","tag-decarbonization","tag-enterpriseclimate","tag-evs","tag-fao","tag-first-movers-coalition","tag-food-security","tag-general-motors","tag-greenhouse-gases","tag-joe-biden","tag-net-zero","tag-saudi-arabia","tag-saudi-green-initiative","tag-uae","wpautop","entry"],"acf":{"mongo_id":"68ac4454-fac9-44a9-88ae-169826f09c50","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/6201.jpg","photo_position":"above","related_issue":[74768],"teaser":"","voice_url":""},"yoast_head":"\nBiden pledges USD 250 mn to support adaptation fund, but pledges fall short - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/14\/biden-pledges-usd-250-mn-to-support-adaptation-fund-but-pledges-fall-short\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden pledges USD 250 mn to support adaptation fund, but pledges fall short\" \/>\n<meta property=\"og:description\" content=\"Biden warns \u201cthe very life of the planet\u201d is at stake: US President Joe Biden doubled down on climate change warnings during his speech on Friday, saying that \u201cthe very life of the planet\u201d is at stake, as he made new pledges that aim to support the world\u2019s fight against climate change. 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