More than one climate diplomat used the word “minimum” in describing the Inflation Reduction Act’s climate measures, which analysts predict would reduce U.S. emissions by about 40 percent by the end of the decade compared to 2005 levels.
. But it would do little to support vulnerable nations around the world that have been pleading for years that wealthy nations help them prepare for a warming world. It also wouldn’t cut America’s carbon emissions as much as President Biden has promised.
According to the U.N. Intergovernmental Panel on Climate Change, nations must roughly halve emissions by 2030 to have an even-shot at limiting warming to 1.5 degrees Celsius above preindustrial levels — a threshold that scientists say would save millions of lives in vulnerable communities and avoid a dangerous escalation of climate disasters.To meet this goal, the United States last year pledged to cut its planet-warming pollution to 52 percent below 2005 levels.
“But you can’t get a major economy to net zero without regulation. And many would want to see more funding for international climate finance, where U.S. shortfalls have already taken the world off-course from the $100 billion goal,” the official said.provide funding to assist vulnerable countries already struggling with extreme heat, persistent drought, rising sea levels and an onslaught of other climate impacts — despite multiple promises that the United States would do so.
The United States has only delivered $1 billion of a $3 billion pledge to the United Nations’ Green Climate Fund made under former president Barack Obama. Last fallAnd although Biden sought about $11 billion for international climate finance in his most recent budget request, it’s not clear that Congress will allocate those funds.
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