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President Biden Speaks at U.N. Climate Summit in Egypt; Soon, National Veterans Day Observance Ceremony at Arlington. Aired 10:30- 11a ET

Aired November 11, 2022 - 10:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[10:30:00]

JOE BIDEN, U.S. PRESIDENT: It includes less than I asked for but a significant amount, $368 billion to support clean electricity, everything from onshore or offshore wind to distribution of solar, zero emissions vehicles and sustainable aviation fuels, more efficient electrified buildings, cleaner industrial processes in manufacturing, climate-smart agriculture and forestry and more.

Look, our Department of Energy estimates that the new law will reduce emissions in the United States by about 1 billion tons in 2030 while unleashing a new era of clean energy power and economic growth. Our investments in technology, from electric batteries to hydrogen, are going to spark a cycle of innovation that will reduce the cost and improve the performance of clean energy technology that will be available to nations worldwide, not just the United States.

We're going to help -- we're going to help make the transition to a low carbon future more comfortable for everyone, accelerate the carbonation beyond our borders. In fact, the International Energy Agency recently concluded that our significant climate investment will, quote, help turbo-charge the -- excuse me, turbo-charge the emerging global clean energy economy. I was reading their quote, sorry. It's going to shift the paradigm for the United States and the entire world.

All right, we also ratified the Kigali Amendment to rally the world in phasing down the production and consumption of HFCs, greenhouse gases that are thousands of times more damaging than carbon dioxide. And just yesterday, the United States became the first government to require that our major federal suppliers disclose their emissions and climate risks and set targets for themselves that are aligned with the Paris Agreement.

As the world's largest customer, with more than $650 billion in spending last year, the United States government is putting our money where our mouth is to strengthen accountability for climate risk and resilience. These critical steps are already locking in vital investments in our infrastructure, delivering lowered costs for clean energy, spurring good paying union jobs for American workers and advancing environmental justice in our communities.

Folks, we're proving a good climate policy is good economic policy. It's a strong foundation for durable, resilient, inclusive economic growth. It's driving progress in the private sector. It's driving progress around the world. And the sum total of the actions my administration is taking puts the United States on track to achieve our Paris Agreement goal of reducing emissions 50 percent to 52 percent below 2005 levels by 2030.

Let me just take a moment to emphasize how meaningful it is that I can say that. I introduced the first piece of climate legislation in the United States Senate way back in 1986, 36 years ago. My commitment to this issue has been unwavering. Today, finally, thanks to the actions we've taken, I can stand here as president of the United States of America and say with confidence the United States of America will meet our emissions targets by 2030.

We're racing forward to do our part to avert the climate hell that the U.N. secretary-general so passionately warned about earlier this week. We're not ignoring harbingers that are right here. It's true, so many disasters. Climate crisis is hitting hardest those countries and communities that have the fewest resources to respond and to recover.

That's why last year I committed to work with our Congress to quadruple U.S. support to climate finance and provide $11 billion annually by 2024, including $3 billion for adaption. That's why the Fund Emergency Manager Plan for Adaptation and Resilience, PREPARE, we call it, to help more than a half a billion people in developing countries respond to climate change.

[10:35:06]

We're already requested more than $2 billion for the PREPARE this year. I'm going to fight to see that this and our other climate objectives are fully funded.

Today, as a down payment, we're announcing more than $150 million in initiatives that specifically support PREPARE's adaptation efforts throughout Africa, including adaptation in Africa, effort that Egypt and the United States launched together in June. This includes support for expanding early warning systems to help cover Africa, broadening access climate finance, providing disaster risk protection, strengthening food security, mobilizing the private sector and supporting new training centers in Egypt to accelerate adaptation across the efforts all across the continent.

My administration has also made the United States the first ever contributor to the adaptation fund last year. And this year, we're doubling our pledge to bringing our total commitment to $100 million. We're also making sure that every dollar we deliver goes as far as possible, unlocking larger pools of finance. And the trillions in private investment, we know that will be needed.

Folks, we're also supporting the global shield, a G7 initiative to better protect vulnerable countries everywhere, from climate-related lawsuits and quickly respond to climate-related damages. And the G7- led partnership for global infrastructure and investment is working to meet the critical infrastructure needs in low and middle-income countries with specific focus on climate. The project we're facilitating will build on transparency, partnership, the protections for workers and the environment. One of the many projects already under way is a partnership between American firms and the government of Angola, to invest $2 billion building new solar projects in Angola. And everywhere, like everywhere in the world, climate adaptation in Africa is working towards energy transmissions. That just means creating good jobs, spurring inclusive economic growth and leaving no one behind, as we implement the sustainable development goals.

Folks, I know this has been a difficult few years. The interconnected challenges that we face can feel all-consuming. The upheaval that we're seeing around the world, especially Russia's brutal attack against Ukraine, is exacerbating food shortages and energy spikes and costs, increasing volatility in those energy markets, driving up global inflation.

Against this backdrop, it's more urgent than ever that we double down on our climate commitments. Russia's war only enhances the urgency of the need to transition the world off this dependence on fossil fuels. True, energy security means that every nation is benefitting from clean, diversified energy future. No action, no action can be taken without a nation understanding that it can use energy as a weapon and hold the global economy hostage. It must stop.

And so this gathering must be the moment to recommit our future and our shared capacity to write a better story for the world. Let's build on our global climate progress, raising both our ambitions and the speed of our efforts. The science is devastatingly clear. We have to make vital progress by the end of this decade.

That's why the United States is rallying the world around climate game-changers. I launched one such game-changer last year, the European Commission president, von der Leyen, the global methane pledge. We started with the E.U. and eight other countries in Glasgow. It grew to more than 100 countries. Now, more than 130 countries have signed on to cover more than half of the global methane emissions.

Methane is 80 times more potent than carbon and it accounts for nearly half of the net warming we're experiencing now. So, cutting methane by 20 percent by 2030 can be our best chance to keep within reach of 1.5 degrees Celsius target.

Today, we're releasing an updated methane emissions reduction act plan, which lays out how the United States is meeting the pledge.

[10:40:06]

We're investing more than $20 billion in domestic methane mitigation, to do things like cap orphaned wells, leaking methane, improving industrial equipment in the oil and gas sectors to reduce emissions. It also lays out strong regulatory actions, including, including the new proposal from our Environmental Protection Agency to strengthen the standards on methane across sectors, especially from super emitters, to make -- just to make sure it's not released in the communities impacting on public health. All told, these steps -- all told, these steps will reduce U.S. methane emissions from recovery sources by 87 percent below the levels of 2005 by 2030.

Folks, another game-changer is conserving our natural environment, whether it's the Congo basin's forest, in Peak Lance (ph) here in Africa or the Amazon basin in South America, or forests, wetlands, grasslands in the United States, preserving nature is one of the most impactful climate solutions we have, some that -- indigenous people who have communities who have known and been the stewards of these efforts of a long time and generations, they've known it.

Here at COP27, we are co-chairing the forestry climate partnership to deliver real, rapid strides to halt deforestation. The best part is we don't have to develop any new technologies. We just have to make clear forests are more valuable when they're preserved than when they're destroyed. It's that basic. And those that are able should be chipping into help those countries, in fact, preserve those great forests.

We're bringing together partners across the public and private sector, the philanthropic sectors, to put healthy ecosystems at the heart of healthy economies. This is going to take all of us. It's going to take all of us. We need to harness our capacity to tackle emissions in economic sectors, like international shipping. If the shipping sector were a standalone economy, if it were a standalone economy, it would rank as the tenth largest emitter in the world. So, together, with Norway, United States has launched a green shipping challenge.

During this COP, we've seen dozens of commitments from governments as well as ports and private companies to facilitate green shipping corridors and align the sector with the 1.5 degree goal. If we can accelerate actions on these game-changers, we can reach our goal. We can keep it within reach as well. But to permanently bend the emissions curve, every nation has needs to step up.

At this gathering, we must renew and raise our climate ambitions. The United States is acting. Everyone has to act. It's a duty and responsibility of global leadership. Countries that are in a position to help should be supporting developing countries so they can make decisive climate decisions, facilitating their energy transmissions, building a path to prosperity that's compatible with climate imperative. If companies can finance coal in developing countries, there's no reason why we can't finance clean energy in developing countries.

I'm pleased to announce today, alongside the European Union and Germany, a $500 million package to finance to facilitate Egypt's transition to clean energy. This package will enable Egypt to deploy 10 gigawatts of renewable argue by 2030 while bringing offline 5 gigawatts of inefficient gas-powered facilities, reducing emission in Egypt and power sector by 10 percent.

We also -- we'll also work with Egypt to capture nearly 14 billion cubic meters of natural gas, which currently flares, vents or leaks from the oil and gas operations. And because of this cooperation, Egypt is elevating its climate ambition and submitting enhanced national determination contributions. If we're going to win this fight, every major emitter nation needs to align with the 1.5 degrees.

We can no longer plead ignorance to the consequences of our actions or continue to repeat our mistakes.

[10:45:05]

Everyone has to keep accelerating efforts throughout this decisive decade. My friends, I came to the presidency determined to make the transformational changes that are needed, that America needs to make and we have to do for the rest of the world to overcome decades of opposition and obstacles of progress in this issue alone, to re- establish the United States as a trustworthy committed global leader on climate.

As I stand here before you, we've taken enormous strides to achieve that. But I don't stand here alone. This progress is being driven by young people all across America. Like young people around the world, they feel the urgency of climate and they feel it deeply. They're committed to these issues. They know the stakes. And that's their world we're creating.

This is not just to stand by and allow us to fail in this responsibility. We can't. That's why as I look out at all of the things that we've accomplished, there's so much more to do, I'm optimistic. For all of the work that remains to be done, we have to put down significant markers of progress.

The United States has taken enduring steps to meet our goals. We're delivering on out our promise of leadership and more and more of the world is standing with us. Though determined diplomacy is necessary, we're finding consensus, building understanding and launching new approaches. And the inspiring passion of young people, civil society, climate activists, indigenous communities is literally galvanizing the world.

Yes, the challenges we face are great but our capacity is greater than the challenge. We must never doubt that. So, let's reach out, take the future in our hands and make the world we wish to see, that we know we need, a planet preserved for generations to come, an economy powered by clean, diversified secure energy sources, opportunities unlocked through innovation and cooperation to deliver, equitable, more prosperous, more stable and more just world for our children. That's why we're here. That is what we're working toward. And we can do it together, I am confident. Thank you, thank you, thank you and may God bless you all.

HILL: President Biden there wrapping up his remarks on climate change on the U.S. efforts, as he speaks there at COP27 there in Egypt speaking to global leaders.

SCIUTTO: Our Chief Climate Correspondent Bill Weir is with us now, was listening.

Bill, president there spoke of a number of what he described as game- changers, including new agreements on reducing methane emissions. I wonder, you know this stuff better than anyone, are these steps game- changers?

BILL WEIR, CNN CHIEF CLIMATE CORRESPONDENT: Well, they are if everybody plays along. It's sort of a voluntary game at these conferences now because you need the whole world around certain languages. These consortiums can break off. Countries can rally around certain ideas. So, he says he's got 130 countries now signed up.

Methane is the easiest one to control. Just in the Permian basin of Texas, they flare it, enough of it leaks to heat 2 million homes. The technology is there to crack down on that and cap some oil wells.

He was most emphatic. He looked right down the barrel of the camera and says the United States will meet its emissions targets by 2030.

Now, the pledge is to cut them by 50 to 52 percent over previous levels back in the early 2000s there. Right now, current policy gets us to about 35 percent. The Inflation Reduction Act gets us to 34 percent or so. So, what is baked in right now really doesn't get us there and then the variable is Congress.

Kathy Castor from Florida last night in Sharm El-Sheikh said, look, it's going to be a lot harder for us to meet the goals if the GOP takes the House. It looks like that's going to happen. There are Republicans in Sharm El-Sheikh, including John Curtis of Utah, a lot of uranium in his state. He's there on a pro-nuclear mining message for the new energy economy. But a standing applause from the delegates there. They like what they heard, especially compared to his predecessor.

HILL: It was also interesting, just a couple things that stood out to me there, the president really hammering home good climate policies, good economic policy. And he made the point in talking about getting others on board. If a country can finance coal, there's no reason they can't finance clean energy. It seems that that's also a line that could play to a domestic audience, Bill.

[10:50:00]

WEIR: It absolutely could. I mean, we're moving to a world where it makes more sense to have your energy local and not be at the mercy of OPEC or Vladimir Putin starting these shocks around the world. So, yes, that message plays.

What's interesting, and you talked about the history, as rich countries going into developing nations, taking their natural resources for energy, and so they get it twice. The promise of $11 billion a year by 2024, if you can get Congress to approve that, appropriate that, that has to go a long way to winning over the developing nations. They'll look at the U.S. and say, if you guys aren't doing more, why should we? A pivotal moment here.

HILL: Yes, it will be. Bill, I appreciate it. Thank you.

WEIR: You bet.

SCIUTTO: All right. Back home, a live at ceremonies getting under way at the Tomb of the Unknown Soldier at Arlington National Cemetery. With the president overseas, Vice President Kamala Harris, she is going to take part in laying a wreath there, this at the top of the hour.

First, though, we're going to hear from Special Forces Veteran Scott Mann on the importance of honoring, as well as helping those many Americans who served. That's coming right up.

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[10:55:00]

SCIUTTO: We are just moments away from Vice President Harris there speaking at Arlington National Cemetery in observance of Veterans Day. She will play a wreath at the Tomb of the Unknown Soldier.

Today, of course, we remember the many veterans who served this country, sacrificed so much, people like Special Forces Veteran Scott Mann, a retired Army lieutenant colonel who served in Iraq and Afghanistan. Lieutenant Colonel, always good to have you on. Thanks so much.

LT. COL. SCOTT MANN (RET.), U.S. ARMY SPECIAL FORCES: Thanks so much for having me on, Jim. It means a lot. Happy Veterans Day.

SCIUTTO: 20 years of war in Iraq and Afghanistan, at best, uncertain outcome of those wars, a country -- our own country that put so much on the tiny part of the population, repeated tours of duty unlike the military has ever seen before, I wonder, given the work you still do with veterans, how do you maintain positivity on a day such as today?

MANN: Well, it's hard, you know, and a lot of our veterans are not able to do that. They're not victims. They're just dealing with the corrosive nature of war.

I mean, the first thing I always say, Jim, is our veterans and our military families are one of our greatest national treasures. I mean, we saw that when Afghanistan collapsed in August of '21, with Operation Pineapple Express and Moral Compass and all these other volunteer groups that stepped into the fray. I mean, we need our veterans and our military families leading in these -- we always have.

But I will tell you, it's not an endless well of resources. For our veterans, they have endured 20 years of really, really challenging times on top of a moral injury at the end of this war with the abandonment of our allies, and it's a tough thing to overcome.

SCIUTTO: You've spoken about mental health for years, mental health of veterans, but particularly in the wake of the Afghan withdrawal, that withdrawal, in your view and the view of others, being really tough to get over and sparking more, frankly, issues and suffering. Tell us what you hear from veterans who served there.

MANN: Yes. I think what a lot of veterans are talking about is that there's just such a distance between us and the civilian population. It's just very hard to understand the corrosive nature of combat. But understand that, you know, 775,000 Americans served in Afghanistan, out of 340 million Americans, you know. And that's a very, very small percentage.

But what we consistently see, Jim, is that the -- I think we're on the front end of a mental health tsunami. Even though our veterans and military families are wonderful resources, we've got to come together as a civil society and help redistribute this emotional load that our veterans are carrying.

I just lost a good friend, Brad, who was a green beret, who was involved in Pineapple, who was involved in our plane last out, and the demons finally took him. And it was the collapse in Afghanistan and things in Ukraine that took him there. And it just -- you know, 20 years after this war started, to lose friends like that, man, like, I mean, it's so senseless. And we have to come together as a society to figure out ways to deal with these mental health issues and help our veterans get back in the game and lead us the way they're designed to lead.

SCIUTTO: I'm so sorry to hear about your friend. We just saw the first lady arriving there at Arlington.

But before we go, today is your 27th wedding anniversary, I want to wish you and your family and your better half congratulations, but the chance to speak about the sacrifice of families of veterans as well.

MANN: Yes, thank you. November is the month of the military family. And I think about my bride raising three boys on her own in the longest war in American history, never complaining, just doing it because it needed to be done. And our military families are the most undervalued precious asset in our nation. And I hope as we go forward today and every day, that we remember our veterans and our military families, and that as a civil society, we have an obligation to reconnect and bring them back into the fold so they can lead us here at home. And I'm honored to be part of the military family and I hope that we remember them as well.

SCIUTTO: Well, we send you our best, Lieutenant Colonel Scott Mann, and the veterans and their families who are watching right now.

[11:00:02]

Thank so much to you as well.

MANN: Thanks so much, Jim.