Biden's global call to fight climate change

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VIEW IN BROWSER | SUBSCRIBE FRI, APR 23, 2021 CNBC POLITICS EDITOR'S NOTE Hello,   This is Emma Newburger, climate policy reporter for CNBC, in for politics editor Mike Calia.   President Joe Biden this week kicked off his global leaders' climate summit by pledging to slash U.S. greenhouse gas emissions in half by the end of the decade. The administration also promised to boost spending to help less-wealthy countries address the climate crisis.   The president's bold target would reshape the economy and require a transformation of how Americans drive their vehicles, heat their homes and operate businesses. Today, Biden will close the summit with conversations on how the U.S. will meet its new target.   Meeting the goal depends largely on Biden's $2 trillion infrastructure proposal, which includes major spending to build clean energy infrastructure and expand the electric vehicle market. The plan will be difficult to impose even if it does pass through a divided Congress.   Senate Republicans have made a counteroffer that slashes spending on efforts to mitigate climate change. The president has said he wants to pass a bipartisan bill. But Democrats will move forward to pass it on their own through budget reconciliation, which requires only a simple majority in the Senate, if the GOP doesn't agree to a deal.   Other countries also made commitments to curb emissions at yesterday's summit. Japan Prime Minister Yoshihide Suga and Canadian Prime Minister Justin Trudeau announced pledges to cut emissions by 46% and 40%-45% by 2030, respectively. Russia President Vladimir Putin made a more vague promise to "significantly" reduce emissions by 2050. And Brazil President Jair Bolsonaro, in a major split from his previous stance on climate change, promised to end illegal deforestation in the country by 2030, which drew skepticism from environmental groups.   Chinese President Xi Jinping and Indian Prime Minister Narendra Modi didn't make any new commitments. China, which said it would cooperate with the U.S. on climate change, repeated its pledge to reach net-zero emissions by 2060. And India reiterated its vow to install 450 gigawatts of renewable energy by 2030.   "This is a moral imperative. An economic imperative. A moment of peril, but also a moment of extraordinary possibilities," Biden told leaders yesterday.   Thoughts? Email us at CNBCPolitics@nbcuni.com.   Have friends or colleagues who might like this newsletter? They can sign up here.    Subscribe to CNBC's daily new podcast The News with Shepard Smith, which provides deep, non-partisan coverage and perspective on the day's most important stories. Mike Calia @Michael_Calia KEY STORIES  Here's what countries pledged on climate change at Biden's global summit The pledges by U.S. allies and adversaries at the global climate summit come shortly after Biden vowed to reduce U.S. emissions by at least 50% by 2030. Biden pledges to slash greenhouse gas emissions in half by 2030 President Biden's pledge to reduce emissions by at least 50% by 2030 more than doubles the country's prior commitment under the 2015 Paris climate agreement. Senate passes bill to combat hate crimes against Asian Americans The Senate approved a bill Thursday that aims to curb a rise in hate crimes targeting Asian Americans during the coronavirus pandemic. Biden to propose capital gains tax of 39.6% to fund education and child care, reports say Biden will seek an increase in the tax on capital gains to 39.6% for those Americans earning more than $1 million, according to reports. 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Biden pressured to disclose political appointees' ethics agreements as advisor's brother lobbies White House Several watchdog groups are pressuring President Biden to publicly release ethics agreements signed by political appointees in his administration. Climate crisis threatens U.S. national security, Defense secretary says Secretary of Defense Lloyd Austin said Thursday that the climate crisis is making it more difficult for the military to defend the U.S. and its allies.     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS