NOVEMBER 16, 2023
Moscone Middle
San Francisco, California
12:45 P.M. PST
THE PRESIDENT: Is that this on? Sure, it’s. Properly, good afternoon, everybody. I used to be ready on the market for the tide to subside.
Welcome. Welcome to our first APEC leaders’ session. I actually respect the truth that you’re all right here. And thanks. And I hope town has been good to you.
And earlier this morning, I spoke with the — on the CEO Summit. And I stated that our world stands at an inflection level — some extent the place the choices we make now are going to find out the course of the world, not only a few of our international locations, for the subsequent a number of many years — of consequence.
Nowhere is that extra true than relating to local weather. Each financial system round this desk faces this problem — each one among us. And as I’ve stated earlier than, it’s the one existential menace to humanity. We both get this proper or there’s not going to be a complete lot of individuals round to speak about it.
Each financial system has seen indicators of what’s to return if we don’t act — droughts, floods, seas rising, temperatures rising, and increasingly unpredictable climate patterns, and extra un- — increasingly unpredictable markets.
As a area, have been chargeable for the biggest share — the area we’re speaking about right here round this round desk, we’re chargeable for the biggest share of worldwide emissions, so we should additionally bear accountability for the options whereas we nonetheless have time to vary course.
Earlier this week, I launched the Fifth U.S Local weather Evaluation, mapping out what we’ve achieved and the way far we now have left to go.
However the truth is, it’s solely collectively that we’re going to have the ability to make any actual progress. Any one among us who will get to zero emissions, it’s not going to vary the world; we now have to do it collectively. Solely collectively can we preserve the objective of limiting warming to 1.5 levels Celsius inside our attain.
Right here at dwelling, I’m proud to say america is doing our half.
One 12 months in the past, I signed what we referred to as the Inflation Discount Act — the biggest funding within the local weather struggle ever, wherever on the planet.
Two years in the past, I signed the Bipartisan Infrastructure Regulation — the most important funding in infrastructure in American historical past, together with what we name our “clear energy” sector.
And during the last three years, we’ve helped mobilize greater than half a trillion {dollars} in non-public sector funding, together with to scale up applied sciences like offshore wind, superior nuclear, clear hydrogen, direct air seize, and extra.
These investments not solely put america on monitor to attain our 1.5 diploma alignment objective — aligned objective by chopping emissions by 50 % by 2030, they’re creating jobs — good-paying jobs, jobs you possibly can elevate a household on. And so they’re serving to decrease the price of clear power and local weather applied sciences for nations world wide by as a lot as 25 % in some areas.
However we are able to’t cease right here. We’ve a lot extra work to do.
You all know in addition to I do the impacts of local weather change are being felt most by those that have contributed the least to the issue. Let me say that once more: You already know the impacts of local weather change are being felt essentially the most by these international locations that contribute the least to the issue, together with growing international locations.
We contributed quite a bit right here in america over the 12 months — the final 300 years. That’s why I’m working with our Congress to dramatically improve worldwide local weather financing.
And this 12 months, the world is on monitor to fulfill the local weather finance pledge that we made beneath the Paris Settlement of $100 billion collectively.
I’ve additionally requested Congress for an additional $25 billion to strengthen the function of the multilateral growth banks in combating the local weather disaster in addition to — in addition to beginning with the World Financial institution. As a result of local weather safety, power safety, and meals safety — they’re all associated, as all of you already know. I’m not telling you something you don’t already know.
On prime of this, we centered on ending deforestation. Forests are key to our future.
In america alone, they take up 10 % of our greenhouse fuel emissions as they stand right this moment.
We’re additionally working with companions across the desk to mobilize $1 billion to preserve the Amazon and different vital ecosystems in Latin America. You already know, the Amazon is a good carbon sink; it absorbs extra carbon from the air each day than america emits each day. And it must be preserved, they usually want assist in doing it.
The US additionally ratified the — the Kigali Modification, which is able to drastically produc- — scale back the manufacturing of tremendous potent hi- — HFCs.
And at last, the International Methane Pledge we launched two years in the past along with simply seven different international locations and the European Union has grown to incorporate 150 international locations.
And right here at dwelling, america is popping this pledge into progress. We’re investing greater than $20 billion in methane mitigation to do issues like plugging leaks all through our oil and fuel sectors. All advised, in 2023, these steps, if finalized, will scale back methane emissions from lined sources by 87 % beneath the 2005 ranges.
I encourage everybody round this desk to additionally take robust nationwide actions, as a result of as that — as I stated earlier, it’ll take all of us to fulfill this second.
With the suitable commitments from each financial system right here, we are able to restrict — we are able to restrict warming, we are able to construct new power futures and go away nobody behind, and we are able to flip — we are able to flip this second into a fantastic — from nice peril right into a second of nice chance.
And the second the place we stood collectively to guard our individuals and protect our planet for future generations — that’s the second we’re at proper now. That’s the prospect we now have. That’s what this session is all about.
I’m trying ahead to listening to instantly from every of you about your local weather wants and priorities, what assist it’s possible you’ll want as properly. And I’m trying ahead to discovering new methods to maximise our influence.
And now, I’d ask the press to depart, which is able to solely take about two minutes, I’m positive. No, we’ll ask the press to depart.
And I’m going to show it over to Secretary Kerry, my Particular Envoy on Local weather, so we are able to get that dialog going.
And thanks.
12:52 P.M. PST
