Speeches Shim
Last updated: November 09, 2021
The U.S. Agency for International Development (USAID) announced multiple initiatives to combat the climate crisis at COP26. At the World Leaders’ Summit, President Biden announced three key initiatives which USAID will play a significant role in implementing. While at COP26, Administrator Samantha Power announced a suite of additional USAID initiatives, targets, and partnerships to support these Presidential initiatives and other Agency climate priorities.
Today, Administrator Samantha Power participated in key meetings and events at COP26 to highlight USAID’s commitment and new announcements as part of the United States’ whole of government approach to addressing the climate crisis.
President Biden and USAID are taking essential steps to put resources in the hands of people hit hardest by the climate crisis. But while the U.S. is stepping up to the plate to meet its adaptation obligations, we need an entire team of bilateral and multilateral partners by our side. We need other donor governments to meet their commitments to adaptation in the way that many have prioritized mitigation. We need climate funds to prioritize investments in early warning systems and agricultural resilience in the way they have prioritized investments in clean energy.
On November 8, USAID announced an ambitious target to mobilize $150 billion in public and private climate finance by 2030. USAID will catalyze the majority of this funding from private sector investments—as well as from public sector investments from partner country governments—through targeted programs and partnerships. USAID aims to catalyze 10 dollars of private sector financing for every one dollar of USAID public funding invested. The U.S. Government public funds that USAID invests in these programs and partnerships to catalyze outside investments will be drawn from and aligned with the anticipated $11.4 billion in annual public climate financing announced by President Biden at the UN General Assembly.
On November 8, USAID announced ambitious new targets to support implementation of the Global Climate Ambition Initiative, which the White House launched at the Leaders' Summit on Climate in April. The Global Climate Ambition Initiative seeks to coordinate U.S. government support to partner countries to strengthen and implement their Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) under the Paris Agreement, and advance towards net-zero and newer enhanced commitments.


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