Biden at Cop27: New initiatives highlight strategic relationship between US and UAE

United States President Joe Biden has arrived in Egypt for the underway Cop27, 27^th session of the United Nations Climate Summit, with a bag full of new initiatives and US investments towards tackling climate change. Biden, in his rather short visit to the Cop27, will proclaim the position of US back as a global leader on issue of climate change following a victorious passage of the Biden administration’s Inflation Reduction Act, which included about $370 billion in clean energy incentives to slash the harmful greenhouse gases.

Renewed US’s fight against climate change under President Biden

In about lesser than a period of 18 months, President Biden has managed to renew America’s commitment to fight the climate crisis. One of the biggest achievements of his administration in this sector is passing of the historic Inflation Reduction Act. The other major victories spearheaded by President Biden include signing the Bipartisan Infrastructure Law, endorsement of the Kigali Amendment to the Montreal Protocol, bolstering a new era of clean American manufacturing, and driving down the clean energy costs for consumers across the country and around the world.

The key initiatives under Biden administration that would be highlighted by the US delegation at Cop27 include:

Global Climate Resilience bolstered under Biden presidency

Through the implementation of his Emergency Plan for Adaptation and Resilience (PREPARE), President Biden aims to help over half a billion people across developing countries to adapt to and tackle the impacts of climate change through this decade.

Global Climate Action reinforced by President Biden

“All hands on deck” is the mantra that Biden has projected to tackle the climate change globally and keep the goal of 1.5 C temperature rise within reach. At Cop27, he is going to announce his initiatives globally, including:

• Announcement of $250 million in resources agreement between US and Germany to unlock $10 billion in commercial investment to support clean energy economy in Egypt
• Expanding the Global Methane Pledge to Rapidly Reduce Global Temperatures While Boosting Energy Security

Strategic Partnership between US and UAE to bolster common goal of clean energy

In Abu Dhabi, the United States and the United Arab Emirates came together to sign a critical new clean energy framework, the “Partnership for Accelerating Clean Energy” (PACE).  This MoU (memorandum of understanding) lays down key steps towards the joint efforts of both the countries to accelerate the common goal of clean energy.  PACE is aimed to catalyze $100 billion in financing, investment, and other necessary support, enabling accelerated growth towards a goal of 100 gigawatts of clean energy by 2035.

The agreement was signed at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) in the presence of UAE President His Highness Sheikh Mohamed bin Zayed al Nahyan on November 1, 2022. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and Special Envoy for Climate Change, and Special Presidential Co-ordinator Amos Hochstein signed the partnership on behalf of the UAE and the US, respectively.

“The UAE-US Partnership for Accelerating Clean Energy [Pace] will enable climate action while enhancing global energy security and affordability for the people of the UAE, the US and nations around the world,” Dr Al Jaber said. “Our new Partnership for Accelerating Clean Energy will catalyse $100bn in clean energy financing in both countries, as well as robust commercial investment and other support for the emerging economies whose clean development is both underfunded and essential to the global climate effort,” the White House said separately.