Crown Prince announces medium-term debt strategy to diversify funding sources "A resilient economy capable of overcoming challenges reflects progress towards achieving Vision 2030 goals"    OPEC+ tripartite meeting keen on maintaining global oil market stability    'No excuses' for Israel to not accept ceasefire deal, EU foreign policy chief says    Riyadh Season draws 8 million visitors in 6 weeks    Alkhorayef highlights role of National Initiative for Global Supply Chains in boosting Saudi economy    Saudi Arabia signs investment deals worth SR35bn with foreign firms to strengthen global supply chains    Saudi Arabia unveils updates on Expo 2030 Riyadh master plan at 175th BIE General Assembly Riyadh Expo Development Company established to oversee strategic planning, operations, and legacy development    Saudi FM attends Quadripartite meeting on Sudan in Italy    Georgia's new parliament opens first session amid mass protests and boycott    Gangsters block aid distribution in south Gaza    Russian deserter reveals war secrets of guarding nuclear base    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Saud Abdulhamid makes history as first Saudi player in Serie A    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Biden unveils climate plan, raising corporate taxes to pay for investment
Published in The Saudi Gazette on 04 - 06 - 2019

Former Vice President Joe Biden released a plan on Tuesday to address climate change that included reversing Trump administration corporate tax cuts to help fund investment needed to achieve 100% clean energy and net-zero emissions by 2050.
Biden, the front-runner for the 2020 Democratic presidential nomination, said his plan would invest $1.7 trillion over 10 years in clean energy research and modernizing infrastructure, and "reinvigorate" middle class manufacturing jobs.
"I'm calling for a Clean Energy Revolution to confront this crisis and do what America does best — solve big problems with big ideas," Biden said in a statement.
Biden's said his proposals and would go "well beyond" the policies that were set when he served with former President Barack Obama.
In his plan, Biden focuses on re-committing the United States to the Paris Climate Agreement — reversing President Donald Trump's planned withdrawal — and re-engaging with other major emitting countries like China to adopt more ambitious emission-reduction targets.
Democratic rivals, like Vermont Senator Bernie Sanders, and youth and environmental activists criticized Biden's centrist approach after Reuters reported last month that he was developing a "middle ground" climate strategy that could appeal to both environmentalists and working class voters wary of a rapid move away from fossil fuels.
The report said the plan could be built around restoring regulations rolled back by the Trump administration and could embrace controversial technologies like nuclear energy and carbon capture and storage to lower US greenhouse gas emissions — measures that critics said were insufficient to address the climate change crisis.
Biden's 22-page plan released Tuesday casts the climate change threat as an opportunity to revitalize the US energy sector, the economy, and generate jobs.
It also seeks to appeal to activist groups, who have been pressing Democratic candidates to support the Green New Deal, a non-binding Congressional resolution calling for an end to US fossil fuels and drastic reduction in greenhouse gas emissions use within 10 years, accompanied by social programs to boost jobs and guarantee healthcare.
"We can create new industries that reinvigorate our manufacturing and create high-quality, middle-class jobs in cities and towns across the United States," the plan said.
Rebuilding the US middle class is one of Biden's campaign priorities.
Biden did not fully endorse the Green New Deal but said two aspects of the resolution are at its core — the urgency for greater ambition to address climate change and the notion that "our environment and our economy are completely and totally connected."
He also for the first time said he would not accept donations from fossil fuel company executives and employees — a demand made on Democratic candidates by activist groups.
The plan consists of several executive actions that Biden would take on his first day in office, including creating an "enforcement mechanism" to put the US on track to achieve 100 percent clean energy and a net-zero emissions goal by 2050.
It lists several other measures that would build on Obama-era policies like regulating methane emissions from oil and gas facilities, developing new fuel economy standards for cars, adopting new energy efficiency standards for appliances and promoting advanced biofuels.
It calls for accelerating the deployment of carbon capture, which limits emissions from coal plants and other industrial facilities, and identifying a future for nuclear energy, which may be needed for the US to hit its net zero target.
Overall, $400 billion would be spent over 10 years on clean energy research and development on those technologies, as well as other emerging technologies like battery storage.
Biden also said the US would engage in international efforts started by the Obama administration to tackle emissions from aviation and shipping, as well as engage with China to stop financing fossil fuel infrastructure projects domestically and overseas.
Biden's plan also addresses low income communities, communities of color and Native American tribes who are disproportionately affected by climate change by strengthening enforcement of polluting companies and prioritizing the modernization of clean water infrastructure.
In a nod to unions and working class voters that Biden wants to win back from Trump, the plan promises to secure coal miners' benefits and increase coal company payments into a federal program to help miners battling with black lung disease.
He also said he would create a task force to help communities facing closures of coal mines and power plants gain access federal funds and private investment "to help create high-paying union jobs based upon the unique assets of each community." — Reuters


Clic here to read the story from its source.