Biden’s White House Earth Summit Prompts Unprecedented Climate Action Across Globe
Today, President Biden’s Earth Summit kicks off, with 40 world leaders attending a Leaders Summit on Climate.
President Biden took action his first day in office to return the United States to the Paris Agreement. Days later, on January 27, he announced that he would convene a leaders summit to galvanize efforts by the major economies to tackle the climate crisis, and this week set out his own 2030 Greenhouse Gas Pollution Reduction Target.
And his efforts seem to be yielding global results, with a flurry of pledges and commitments from world leaders, including here in Europe, where we’ve witnessed an unprecedented week of climate action.
European Council and European Parliament reach provisional agreement on Climate Law
The Council’s and the European Parliament’s negotiators reached a provisional political agreement setting into law the objective of a climate-neutral EU by 2050, and a collective, net greenhouse gas emissions reduction target (emissions after deduction of removals) of at least 55% by 2030 compared to 1990.
Sustainable Finance and EU Taxonomy
European Commission takes further steps to channel money towards sustainable activities
European Commission plans for a Corporate Sustainability Reporting Directive
The proposed Directive puts companies’ green disclosures at the heart of efforts to mobilise more private capital into climate-friendly investments.
EU’s Climate Tax Threat
European Commission Executive Vice President Frans Timmermans told a U.S. congressional subcommittee late Tuesday that Europe will protect its industries against carbon leakage — or competition from countries with lax climate rules — by setting a levy on high carbon imports, also known as a Carbon Border Adjustment Mechanism (CBAM).
NATO’S climate challenge:
The Brussels-based alliance’s Secretary General on why its members must work together to adapt to rising temperatures and cut emissions
The US may have been a climate action laggard but they are rapidly becoming a climate action leader. And whilst global climate action, including here in Europe, may have occurred anyway, Biden has provided new momentum, urgency and focus. If the battle to become the world’s climate leader prompts global climate action that is more ambitious, in terms of timescale and scope, then we should all applaud Biden’s efforts.
More information from Mark Watts
Mark Watts FCILT FRSA is Director of LP Brussels and a former two-term Member of the European Parliament. He has been advising organisations and businesses on EU transport, energy and environment policy for over seventeen years. He is a Fellow of the Chartered Institute of Logistics and Transport and a Fellow of the Royal Society of Arts. He writes in a personal capacity.