President Biden Announces New Initiatives at COP27 to Strengthen U.S. Leadership in Tackling Climate Change

SHARM EL SHEIKH, EGYPT – Citing the overlapping challenges of climate, energy poverty, food security, President Joe Biden today unveiled a suite of actions to support developing countries adapt and build resilience to climate impacts, recommit to global efforts to reduce methane emissions, and create climate-smart food systems.  

METHANE

A key announcement included a new framework involving the U.S., the European Union, Japan, Canada, Norway, Singapore and the United Kingdom under which buyers and sellers of internationally-traded natural gas and other fuels will collaborate to minimize greenhouse gases which include the wasteful emissions of methane across oil and gas supply chains. 

Following on last year’s Global Methane Pledge, the new Joint Declaration seeks to create a market for low methane-intensity natural gas by channeling more and better emissions data into concrete policies, commercial agreements, and emission mitigation plans.  

"Recent events show that energy security and climate security are inextricably linked. Countries are staying focused on methane not despite the energy crisis, but because of it. Rather than retreat from commitments to reduce methane waste and pollution, they’re moving decisively forward on goals they set at last year’s COP.  

Methane pollution is pervasive throughout the fossil fuel sector, wasting at least 80 million tons of natural gas a year. Keeping that gas out of the atmosphere is the best, fastest thing we can do to protect the climate while helping to ensure that Europe and the world have the energy needed to manage the immediate geopolitical crisis, even as we accelerate the decarbonization of our energy systems.  

The declaration brings energy exporters and energy importers into alignment around transparent measurement and reporting standards that make is easier for both sides to reduce wasteful, unnecessary pollution. By using resources already in place through the Oil & Gas Methane Partnership and the International Methane Emissions Observatory, participants will achieve results quicker and with greater certainty."

• Fred Krupp, President, Environmental Defense Fund 

ADAPTATION

Other commitments included a pledge to double its contribution to the Adaptation Fund to $100 million and provide over $150 million to accelerate his Emergency Plan for Adaptation and Resilience (PREPARE)’s work across the continent, in support of the Adaptation in Africa initiative. 

"These commitments to support adaptation and resilience to a changing climate are a sign that the United States is showing up in response to the asks of developing countries."

• Angela Churie Kallhauge, Executive Vice President of Impact, Environmental Defense Fund 

FOOD SYSTEMS 

The Biden administration also took several actions to support the building of climate-smart food systems in developing countries by increasing financing and instructure and expanding key initiatives working to address the impacts of climate change on global food systems.

"The climate crisis cannot be solved without tackling food systems. The two go hand in hand. It’s critical that we support finance and infrastructure that puts frontline communities not just at the table, but also in leadership roles. This includes making sure they are truly the beneficiaries of any economic opportunities and help shape investments at the local and community level.

Today’s announcement from the White House underscores the need to tackle multiple challenges at once, including providing finance, technology and sound policies to make our food, water and agricultural systems more resilient in the face of climate change. The focus on supporting financing for climate-smart food systems across the globe and particularly in Africa will be essential to meeting regionally specific assistance. This will be necessary to give farmers, fishers and those in the food systems supply chain the finance, tools and information they need to make climate-smart decisions.

These commitments include expansion of Feed the Future, AIM4C, PREPARE, the Global Methane Pledge and the Global Fertilizer Challenge that are aimed at addressing the impacts from climate change. We’re encouraged that food systems are being recognized as part of the challenge – but also part of the solution. This is just a start – much more needs to be done and we are not moving fast enough. We must show greater commitments to close the funding gap and fundamental transformation of our food systems that we know is needed so that people and nature can thrive together."

• Angela Churie Kallhauge, Executive Vice President of Impact, Environmental Defense Fund 

Biden also spoke about the new Energy Transition Accelerator, which has the potential to speed the transition to clean energy in developing countries, and the latest draft of rules designed to dramatically cut methane pollution from U.S. oil and gas production.