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Biden pushes the world's major economies to do more on climate change | FULL

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U.S. President Joe Biden hosted the Major Economies Forum (MEF) on Friday, where he urged China and other major economies to ramp up their efforts to combat climate change by cutting methane emissions, adopting ambitious targets for zero-emission vehicles and cleaning up shipping.

Biden also called on countries to spend $90 billion to speed commercialization of clean technologies, and to develop new fertilizers that cut agricultural emissions and boost food security.

The president said Washington also plans to spend $21.5 billion on large-scale demonstration projects to achieve net-zero emissions and urged other countries to chip in to reach the total $90 billion in estimated investment needs.

Biden, who last year signed an executive order mandating that half of all light-duty vehicles sold in the United States be zero-emission by 2030, called on other leaders to match that target.

The United States and Norway would also launch a green shipping challenge for COP27 to encourage governments, ports and cargo owners to come up with concrete steps towards full decarbonization no later than 2050, he said.

Finally, Biden addressed the "devastating effect" of Russia's invasion of Ukraine on the global food system and set a goal of raising $100 million in new funding for development of alternative fertilizers by COP27.

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