Joe Biden will take the podium in the east room at the White House very shortly.
The title of his address is: “The Economic Opportunities of Climate Action.”
My environment correspondent colleague Oliver Milman previews the main thrust today about job creation:
The White House is bringing out the billionaires, the CEOs and the union executives Friday to help sell Joe Biden’s climate-friendly transformation of the US economy at his virtual summit of world leaders.
The closing day of the two-day summit on the climate crisis is to feature Bill Gates and Mike Bloomberg, steelworker and electrical union leaders and executives for solar and other renewable energy.
Biden vows to slash US emissions by half to meet ‘existential crisis of our time’.
It’s all in service of an argument US officials say will make or break the president’s climate agenda: pouring trillions of dollars into clean-energy technology, research and infrastructure will jet-pack a competitive US economy into the future and create jobs, while saving the planet.
The new urgency comes as scientists say that the climate crisis caused by coal plants, car engines and other fossil fuel use is worsening droughts, floods, hurricanes, wildfires and other disasters and that humans are running out of time to stave off catastrophic extremes of global warming.
The event has featured the world’s major powers – and major polluters – pledging to cooperate on cutting petroleum and coal emissions that are rapidly warming the planet.
Yesterday, Biden called upon the world to confront the climate crisis and “overcome the existential crisis of our time”, as he unveiled an ambitious new pledge to slash US planet-heating emissions in half by the end of the decade.
Addressing the opening of a gathering of more than 40 world leaders in an Earth Day climate summit, Biden warned that “time is short” to address dangerous global heating and urged other countries to do more.
Shortly before the start of the summit, the White House said the US will aim to reduce its greenhouse gas emissions by between 50% and 52% by 2030, based on 2005 levels. Biden said the new US goal will set it on the path to net zero emissions by 2050 and that other countries now needed to also raise their ambition.