President Biden Announces Billionaire Assistance to Climate Change Organization

( – US President Joe Biden announced during a Thursday meeting at the Major Economies Forum on Energy and Climate that the White House will give $1 billion to the Green Climate Fund, which one of its main goal is to assist third-world nations around the world in their low-carbon projects. Experts believe this is a millionaire mistake from the Biden administration, considering that this money goes to many populist governments that could eventually use this economic assistance for other purposes instead of executing their climate change agendas.

During the meeting, President Biden also said he will try to guarantee a $500 million economic assistance to the anti-deforestation efforts in Brazil, which is currently ruled by the leftist government of President Lula da Silva. In a speech, the US commander-in-chief said that the world needs to do more than recognize the threat of climate change, adding that the most powerful nations must “step up our ambitions” and do more action. Further urging world leaders to accept a target set by his administration, he encouraged participating governments to set a goal of having 50 percent of light-duty vehicle sales be electric by 2030.

On Thursday morning, the White House said the goal of this meeting was to show the new steps that the Biden administration was planning to take to meet its climate goals. It also said that the United States will keep doing its biggest efforts to convince other nations to be part of this multilateral coalition of governments to address not only the threat of climate change but also other major global challenges.

The Major Economies Forum on Energy and Climate is a global organization of state heads created to promote candid discussion about environmental challenges in the context of economic development. Since its inception in 2009, the group has held regular meetings in Washington, D.C. The first president to host one of these events was Democrat Barack Obama.

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