Monday, January 17, 2022

Biden unveils plan to change, build more climate-resilient economy

15 October (NWN) — President Joe Biden’s administration on Friday announced the launch of a “whole government” strategy to address the economic risks posed by climate change and global-warming carbon emissions, both collectively and for individual Americans.

Officials said the comprehensive plan aims to “measure, disclose, manage and mitigate” the risk associated with climate change and employs federal mechanics and rule-making focused on the environment.

The White House on Friday released a 40-page report that outlines and emphasizes the economic risks posed by climate change, titled “The Roadmap to Building a Climate-Resilient Economy.”

“Climate change poses serious and systemic risks to the US economy and financial system,” it says. “The United States government is using all of its tools to properly address and mitigate the financial and economic risks related to climate change, as climate impacts are already affecting American jobs, homes, families’ hard-earned savings and businesses. are influencing.”

As part of the strategy, things like mortgages, stocks, retirement savings and government spending are identified as being at risk due to the effects of climate change.

In May, Biden ordered the government to analyze how climate elements such as heat, floods, hurricanes and fires affect the US economy. a month ago, he Mortgage To halve carbon emissions by 2031.

The plan also prioritizes using the purchasing power of the federal government to support companies that are reducing emissions, and considering the impact of climate change on federal debt.

The strategy would involve agencies such as the Federal Emergency Management Agency and the National Oceanic and Atmospheric Administration more in helping local communities cope with climate impacts.

“These steps will help protect the life savings of workers and families, spur the creation of well-paying jobs, and ensure the long-term sustainability of American economic prosperity for decades to come,” the White House said in a statement.

“This year alone, extreme weather has hit the US economy and affected one in three Americans,” the report said.

“As this year draws to a close, the total loss of extreme weather will build on the $99 billion already incurred by American taxpayers in 2020.

“By maintaining the status quo, we not only face the escalating consequences of climate change, but also bear the opportunity cost of missing out on a historic opportunity for job creation, shared prosperity and a more resilient future.

“[The plan is] A long-term effort to build climate resilience in the US economy and drive better long-term investment outcomes for ordinary Americans.”

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