At the G20 in Rome, ahead of COP, the world’s largest economies agreed to stop financing coal plants abroad, but not at home, due to resistance from coal-heavy Australia, China, Russia, and India. World leaders “fluffed their lines” on climate, Greenpeace’s Jennifer Morgan said in a statement. The U.S. showed up in Glasgow with its new strategy to reach net-zero emissions by 2050, plus a little more detail on how its climate finance pledge would help the world adapt to worsening impacts.
Ahead of his speech at the World Leaders Summit, the White House announced President Biden will pledge to work with Congress to provide $3 billion in adaptation finance annually by FY2024, part of $11.4 billion already pledged. This is the first time that money has been dedicated to adaptation, and would deliver on a major responsibility to island nations and other vulnerable countries. (New York Times $, AP, Politico, CNN, AP; 2050 plan & adaptation finance: Bloomberg $, NPR, Wall Street Journal $)