President Joe Biden is aiming to shell out more than $11 billion for climate spending in other countries, according to the White House’s more than $5.7 trillion budget released on Monday.
The proposal, which comes weeks after Congress approved the $1.5 trillion omnibus spending bill for the rest of the year, would allocate $44.9 billion “to tackle the climate crisis.” Such a feat would spawn a $16.7 billion increase from 2021 spending on climate.
In a section titled “Restoring America’s Global Climate Leadership,” the White House calls for more than $11 billion “in international climate finance,” which would effectively quadruple green energy spending on the global scale.
“U.S. international climate assistance and financing would: accelerate the global energy transition to net-zero emissions by 2050; help developing countries build resilience to the growing impacts of climate change; and support the implementation of the President’s Plan to Conserve Global Forests: Critical Carbon Sinks,” the proposal states.
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