Speeches Shim
Last updated: May 03, 2022
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.
The United States is proud to be a founding member of this India-led Coalition, and we will continue to be a champion of its efforts to raise private- and public-sector financing for infrastructure that can withstand climate shocks. President Biden has made both public- and private-sector investment in infrastructure a key part of his Emergency Plan for Adaptation and Resilience, PREPARE. But today, we’re speaking about a very particular kind of infrastructure—energy infrastructure—and the need to make sure it can stand up to the climate shocks we will increasingly face.
At the United Nations Conference of the Parties (COP26), Administrator Samantha Power announced a new partnership with the African Union Commission (AUC) to reach the Paris Agreement goals of reducing carbon emissions and building long-term adaptation plans. Administrator Power announced the launch of the Comprehensive Africa Climate Change Initiative (CACCI) alongside Josefa Sacko, African Union Commissioner of the Department of Agriculture, Rural Development, Blue Economy and Sustainable Environment, and other African Union Member States representatives.
Today, Administrator Samantha Power participated in key meetings and events at COP26 to advance the United States’ partnerships and commitments to address the climate crisis.
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