Developing countries are increasingly concerned that their need for financial assistance to tackle the climate crisis will not be met, as leaders of the world’s largest economies gather for a virtual White House summit on the weather.

Joe biden, the US president, hosts virtually more than 40 world leaders over the next two days to discuss ways to meet the 2015 Paris climate agreement and to encourage major economies to come up with plans to cut gas emissions greenhouse effect over the next decade.

Such plans will be essential to limit global warming to 1.5 ° C above pre-industrial levels, in line with scientific advice. But alongside these promises, developing countries are looking for strong new commitments in another crucial area: climate finance, the flow of money from public and private sector sources into the rich world to help the poor world reduce its emissions and deal with the intensifying effects of extreme weather conditions.

Lidy Nacpil, coordinator of the Asian Peoples’ Debt and Development Movement, said: “We are at a point where we know what needs to be done to reverse climate chaos and it boils down to this simple principle: countries more rich, who emit more now and historically, can and should do more with their emission reductions and the provision of climate finance. ”


Biden at climate summit: ‘No nation can solve this crisis on its own’


United States pledges to cut emissions by at least 50% by 2030 ahead of climate summit

The United States has pledged to cut at least half its global heating emissions by the end of the decade, in a ramping up ambition to rally other countries to do more to do in the face of the climate crisis.

Before a virtual gathering of dozens of world leaders at a climate summit convened by Joe biden, which begins Thursday, the White House said the United States will aim to reduce its greenhouse gas emissions by 50% to 52% by 2030, based on 2005 levels.

This new goal, which will be officially submitted to the United Nations, represents a radical break with the climate denial presidency of Donald trump and “will communicate unequivocally that the United States is back,” according to a White House official who was briefed on the emissions target. “The United States will not wait, the costs of delay are too high and our nation is determined to act now,” added the administration official.

The United States is working to regain its international credibility after Trump pulled the country from the Paris climate agreement. But the Biden administration said he had already helped get better emission cuts from Canada, Argentina and Japan, meaning that alongside new commitments from countries such as the UK, governments overseeing half of the global economy have coherent goals to prevent the planet’s average temperature from rising above 1.5C, a key Paris target for avoiding disastrous climate impacts.


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