Center for American Progress

RELEASE: CAP Reports Outline Top International Climate Priorities for 2024 and Beyond
Press Release

RELEASE: CAP Reports Outline Top International Climate Priorities for 2024 and Beyond

Washington, D.C. — As President Joe Biden’s first term draws to a close, his administration must deliver on three international climate policies to catalyze a 21st-century clean energy economy and avoid the worst impacts of climate change.

Two new reports from the Center for American Progress outline the top international climate priorities the Biden administration should pursue to realize this transition.

First, the United States must commit to a robust new climate finance goal this year at COP29 and develop a five-year cross-agency plan to deliver on international climate finance promises. It must also capitalize on the upcoming congressional reauthorizations of the U.S. International Development Finance Corporation and the Export-Import Bank to stop new financing of fossil fuel projects abroad and increase financing for clean energy projects.

Second, the administration must reorient the global trade system to achieve climate goals. It should foster broad cooperation around green trade in a way that strengthens the position of U.S. workers and businesses, encourages decarbonization of industry, and deepens critical geopolitical relationships.

Third, the Biden administration must set the United States on course for ambitious domestic emissions reductions. By the end of 2024, the Biden administration should announce a credible, enhanced ambitious 2035 nationally determined contribution. This action would demonstrate the durability and effectiveness of U.S. domestic climate actions, signal to global markets and governments the seriousness of the U.S. commitment to net-zero by 2050, and leverage climate diplomacy to urge increased ambition from other major emitters.

Read the reports:

For more information or to speak with an expert, please contact Sam Hananel at [email protected].

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