Daily Times

Joe_Biden_presidential_portraitUnited Nations: US President Joe Biden is expected to announce “good news” on addressing a shortfall in a $100 billion global climate fund, a UN official said Monday following a closed-door meeting between countries on the sidelines of the general assembly.

Biden, who will make his first speech to the world body as the American leader on Tuesday, was represented by his climate envoy John Kerry at the meeting convened by Britain and UN chief Antonio Guterres.

Ahead of the Paris agreement, developed countries pledged to mobilize $100 billion a year from 2020 to support poorer nations with climate adaptation, but there is currently around a $20 billion shortfall. “We did hear from the US representative in the room that… some good news was imminent,” the UN official said, adding there were “really positive views and signals coming from the US representative.”

“We don’t have the details, of course, but hopefully it will help to provide that clarity on how the US intends to step up to support the mobilization of the $100 billion.”

The announcement was a sliver of hope on the climate front following a slew of recent scientific reports painting a bleak picture of the planet’s future, as the world’s top polluters continue to spew greenhouse gases at alarming rates.

Britain’s Prime Minister Boris Johnson, who co-hosted the meeting, took leaders to task over their failure to honor their pledges for the fund, which is meant to deliver $100 billion every year from 2020 to 2025.