President Joe Biden announced increased investments in countries and projects related to climate change in an effort to adhere to global climate targets, while declaring steps to limit methane emissions within the country in remarks given at the 27th Conference of the Parties to the UN Framework Convention on Climate Change (COP27).
“Today as a downpayment we’re announcing a $150 million in initiatives that specifically support adaptation efforts throughout Africa,” Biden said in his speech in Sharm El-Sheik, Egypt, on Nov. 11. “Alongside the European Union and Germany, a $500 million package to finance and facilitate Egypt’s transition to clean energy [will] enable Egypt to deploy 10 gigawatts of renewable energy by 2030 while bringing offline 5 gigawatts of inefficient gas-powered facilities reducing emission in Egypt’s power sector by 10 percent.”
