One of US President Biden’s first actions upon taking office was to notify the United Nations that the United States is rejoining the Paris Agreement. This marks the start of a new era for the United States, focused on accelerating climate action globally.
And through the decision to reject the Keystone XL permit, the Biden Administration has signalled that it is willing to confront the reality that fossil fuel infrastructure projects are putting us on a dangerous emissions pathway.
To go further in dealing with fossil fuel emissions, there are a few key areas listed below where President Biden’s team can drive significant global emissions reductions quickly.
Through the selection of an experienced team to lead international climate diplomacy, President Biden has signalled just how important tackling climate change will be in Foreign Policy.
In his confirmation hearing, incoming Secretary of State Tony Blinken provided this response to a question about international financing of energy projects: “we want to make sure that we are not doing anything to facilitate countries exporting dirty technology around the world.” The US must lead this change and end our own lending for coal, oil and gas projects overseas. Here’s how:
Clean Energy, Not Coal: President Biden’s Clean Energy Export and Climate Investment Initiative can help countries adopt a clean energy pathway. It is vital for the Biden Administration to fulfil its promise to offer countries clean energy alternatives to Belt & Road Countries planning to build Coal Plants.
Fossil Fuel Finance: The Biden Climate Plan also made clear: “No financing dirty energy” through the US Development Finance Corporation or U.S. Export-Import Bank. The US can follow the example of the UK, announcing an end to government support for the fossil fuel energy sector overseas. And, the US can use its position within multilateral development banks to push for the same.
Threat of US LNG Exports: The latest research has made clear that Liquefied “Natural” Gas (LNG) exports are a climate threat. Even by conservative estimates, LNG exports cannot help the world meet its climate goals due to high life-cycle emissions from LNG production, liquefaction, transport, regasification and combustion. The Biden Administration must make clear that it will end the policies of the last few years promoting LNG, and shift to focus on a truly clean energy export agenda with other nations.