US President Joe Biden has launched a two-day online global climate summit, promising to significantly reduce US carbon emissions by 2030 and double the annual climate change funding for developing countries by 2024. Forty world leaders, climate activists, and representatives from international organizations participated in this summit.

US President Joe Biden

According to US media reports, President Biden made an ambitious promise during an online climate summit with 40 world leaders to reduce US carbon emissions by 50% to 52% by 2030, lower than 2005 levels.

The United States is committed to once again becoming a leader in addressing climate change, after the Trump administration withdrew from the 2015 Paris Climate Agreement.

Biden's new goals are twice as much as the promises made by the Obama administration, and he hopes that other countries will also take further action before the United Nations Climate Change Conference in Glasgow, UK in November.

Biden said, "The measures taken by our country from now until the Glasgow Conference will prepare the world for success in protecting global livelihoods and maintaining global warming at a maximum of 1.5 degrees Celsius."

Other countries and regions, including the leaders of the European Union, Japan, and Canada, have also announced new goals, including Brazilian President Borsonaro, whose previous policies have been criticized for accelerating deforestation in the Amazon.

Brazilian President Borsonaro said, "I have decided that we should achieve climate neutrality by 2050, bringing the previously announced goal forward by 10 years."

India, the world's third largest emitter, and Russia, the fourth largest emitter, have not made any new commitments.

At the same time, developing countries are seeking guarantees from wealthy countries in financing for climate change to help lower income countries reduce emissions.

South African President Cyril Ramaphosa has stated that these countries have traditionally had the least impact on global emissions, but often suffer the most devastating consequences of climate change. He said, "Therefore, developed countries will take on greater responsibility to support developing countries, enabling them to mitigate risks and adapt to climate change."

In 2009, developed countries pledged to increase climate financing under the United Nations Framework Convention on Climate Change, reaching at least $100 billion annually by 2020. This promise has not yet been fulfilled.

But Biden said on Thursday that he is updating the United States' commitment to this commitment.

Biden said, "The United States will double the annual public climate development funding we provide to developing countries by 2024."