LIVE: Biden Delivers Remarks on Climate at the Bloomberg Global Business Forum

I'm so glad to be here and to have the honor of introducing our next speaker. Michael Bloomberg is someone who needs no introduction, especially not in New York. But he's also someone who named his company, his foundation, his memoir after himself. So I don't think that he'll mind if I sing his praises for just a few minutes, but, you know, seriously. Michael is someone who brings people together. And if, well, look, you're proof of that, right? Hi, everybody. He doesn't just reach across the table. He builds consensus. And he doesn't get bogged down by the scale or scope of problems. He focuses on finding and implementing solutions. He's done that as a business leader, as mayor, and as a philanthropist. He's one of the country's leading voices on some of the most pressing challenges we face, like gun violence, public health, immigration, and, of course, climate, the climate crisis. And his foundation, the Bloomberg Foundation, Bloomberg Philanthropies, has given away more than $17 billion to all causes and initiatives focused on saving and improving lives. He also serves as the UN Secretary General's Special Envoy on Climate Ambition and Solutions and as the WHO Ambassador for Noncommunicable Diseases and Injuries, whatever the hell they are. And this year, President Biden awarded him the Presidential Medal of Freedom, the nation's highest civilian honor. It makes sense, because the president and Mike share a lot of the same qualities. Like Mike, President Biden is a dedicated public servant who puts people and country first. And he understands that we don't have a moment to wait when it comes to the climate crisis. The Biden administration's inflammation, well, that's interesting, but it does that, too, Inflation Reduction Act, the IRA, will be the foundation for all the climate progress still to come. And it's up to all of us to build on it. I've been fortunate to call Michael a friend for a while, and I've gotten to work with him, too. And I can tell you, I'm sure he's honored by the accolades. But what matters to him the most is making a difference, especially when it comes to the environment. He's taken on the coal industry and the fossil, forget natural gas, the fucking fossil gas. There's nothing natural about it, and it's terrible for people and for the environment. And he's won, Michael Bloomberg has, again and again and again. And now he's taking on, yay, the petrochemical industry. Smart money is on Mike and that one, too. He also helped revolutionize how we think about climate finance. He's been a much needed voice of realism and pragmatism for the climate movement. He keeps us focused on solutions that can make a difference today, right here, right now. And here's a novel concept. He then helps us implement those solutions so they can actually make a difference. Mike's superpower is bringing people together from different sectors and different fields to solve some of the world's biggest problems. And I've known a few billionaires, biblically, if you really want to know. Michael is different. And I don't understand why this white guy, billionaire in New York, understands the importance, the strategic importance, of listening to the voices of black women in Louisiana. I don't know why. God bless him. And here's what the Global Business Forum is all about. And as is often the case at convenings like this, his vision and leadership is the reason that we're all here. With that, it is my absolute pleasure to introduce Michael Bloomberg. Jane, I didn't grow up in a world where I knew famous people, stars like you. But I promise you this, the next memoir that I write is going to be about you. And I will get even. Anyways, thanks for that nice introduction and for all of your work on behalf of the environment, public health, and so many other important causes. And now it is my pleasure to introduce our next speaker. And we're honored to have him with us as President Joe Biden. Nice round of applause for Joe. I've had many chances to work with Joe on issues that we both care deeply about, including preventing gun violence. Thanks to his leadership in the White House, Congress passed the first major gun safety bill in a generation. And it's one of those many issues where he's been able to work across the aisle and bring people together. Another one of those issues, his major focus has been on climate change. I think it's fair to say no president has done more to push our country forward on climate change, starting on Joe's first day in office when he brought the US back into the Paris Agreement. And he has wisely put, yes, he deserves a round of applause for that. He has wisely put fighting climate change at the center of his work, strengthening the economy, showing how the two go hand in hand. Once again, Joe reached across the aisle and helped push through Congress major bills on climate and infrastructure. They have led to a surge of new investment in clean energy and created unprecedented opportunities for cities to raise their climate ambitions because Joe does understand that mayors are powerful allies in the climate fight. Joe has set high goals for cutting admissions, and he supported the kind of bottom-up action we need to achieve these goals, including strong partnerships with business. And Bloomberg Philanthropies has been glad to collaborate closely with him and his team. We are committed to doing everything we can to build on the climate progress that he has started. And so I want to thank him for all of his leadership. Now, before I welcome Joe to the stage, we're going to hear from a few others who want to thank President Biden. Play the video. Democrats say it's the longest ever single climate investment in history. The most concerted, ambitious pledge on carbon emissions we have ever had in this country, but not. This new law could slash US carbon dioxide emissions by 40% by 2030. The Inflation Reduction Act includes more than $400 billion of new spending. President Biden. Thank you. Thank you, President Joe Biden. President Biden has been the most effective and impactful climate champion our nation's ever seen. You've proven to the world that change is possible. Thank you for everything you're doing to accelerate the transition from fossil fuels to clean energy. For delivering the largest climate and clean energy investments of any government anywhere in the world. For making historic investments to accelerate our green economy, put Americans back to work. Limiting new offshore oil and gas drilling in key coastal areas. Demonstrates the leadership across the globe. He also delivered by setting aside hundreds of billions of dollars for environmental justice communities. Thanks to President Biden, Congress and EPA have done more for the climate in the last four years than ever before. Thank you, President Biden, for keeping your promise. Thank you for your leadership. Let's keep making progress. No other administration in history has been this committed to the climate crisis. Because of you, we are on the right path for generations to come. Thank you for ensuring that our communities have a say in our future. For our children and grandchildren, how we need it. What a difference you're making. Thank you. And on behalf of the entire climate movement, thank you. Thank you. Ladies and gentlemen, please welcome President Joe Biden. Thank you, thank you, thank you. Thank you. Thank you, thank you, thank you. If I were smart, I'd leave now. Thank you all so very much. Mr. Mayor, Michael, thank you. You know, I awarded the Presidential Medal of Freedom because you literally revolutionized our economy. It's not hyperbole. It transformed how we consume information. It challenged and solved the toughest issues. And thank you for hosting this important forum. And thank all the business leaders here today. And thank my cabinet members for their work as well. Energy Secretary Jennifer Granholm is here, the EPA Administrator Michael Reagan is here. You know, four years ago, Kamala and I inherited the worst pandemic in the century. The worst economic crisis since the Great Depression. I got to hold them in here and tell you a little story. When I, when I sat in the Oval Office every morning at nine o'clock and then ended the day with Barack for eight years. And there was only one, there was only one portrait above the fireplace. Portrait of George Washington. Fairly small but a beautiful portrait. And so I went, I didn't realize at the time, all the times I've been in the Oval, that the incoming president cannot go into the Oval on the 20th until after four o'clock. And the outgoing president has to leave by 10. Although the outgoing president never showed up. Anyway, but so I asked my brother Jim, who has a better taste than I do, to pick what we needed for, to pick what desk you want, what rug, you know, the things you want in your office. And I said, I only wanted a couple things. I wanted to make sure I had the resolute desk and I wanted, looking next to the fireplace, I wanted the bust of Martin Luther King, who was one of my heroes as I was coming up as a young civil rights guy, and Bobby Kennedy. I've graded my admiration for John Kennedy, but I could never picture him at my kitchen table. Anyway, so we're standing, I walk in and my brother's showing me and I look up and there's this giant portrait of Franklin Roosevelt. And John Meacham was on the speaker. And I said, why Franklin Roosevelt? I admired him, but why Franklin Roosevelt? He said, well, no one's inherited an economy more disarrayed than when Franklin Roosevelt was president. I said, isn't that wonderful? Swear to God, true story. Look to the left, it was Abraham Lincoln. I said, why Abraham Lincoln? I admired the hell out of Lincoln, but why? He said, the country has never been as divided since the Civil War. I said, I'm the hell out of here. Anyway, but look, a lot's changed. A lot's changed. We came to office, the climate is in crisis and one existential threat to face all nations. Mayor Bloomberg, Michael, you've convened leadership, national and international levels to lead the charge and change the mindset. You know, I just met with the president of the UAE, who is a massive investor in clean energy around the world. That's what he wanted to talk to me about. I just hosted a three-day conference at the Quad in Delaware, Prime Minister of India, Australia, and Japan. Three of the fastest growing economies in the world. They understand you can't remain dependent on fossil fuels. They need to lean the clean energy future. I had a discussion with the president of Kenya, whom I hosted for a state visit. Kenya is also a global leader in clean energy. Together, we've launched the U.S.-Kenya Climate and Clean Energy Industrial Partnership. All this matters. Now I want to pivot to home here. Since I've been president, I've flown over more wildfires, unfortunately, it's the God's truth, and helicopters, from Arizona, Idaho, all the way to Montana. And more acreage, I've looked down and I've seen more acreage burned on the ground, to the ground, than the entire state of Maryland, in terms of the area. Just wildfires, I've toured the community, ravaged by tornadoes and floods, more than cost lives and livelihoods, cost taxpayers billions of dollars in damage. But when Kamala and I came to office, there was no real plan, place to do anything about it. As a government, we were doing nothing, virtually nothing. We were determined, not only to deliver immediate economic relief to the American people, but to transform how our economy works in the long term. To write a new economic playbook, to grow the economy from the middle out and the bottom up, instead of the top down, that way workers do well, no one's left behind, and the wealthy still do very well. And leave no, and foster fair competition. Invest in all of America, in all Americans. And I've been pointing out, when it comes to the climate, every time I talk about it, whether I was trying to convince labor or business to come along, I'd say, I think climate, I think jobs. I think jobs, and I mean it. Good union paying jobs. In fact, I'm proud to have kept my commitment to bring unions and business to the climate table. That's what we're seeing. Rather than climate conservation about sacrifice, conversation about sacrifice, or focus on doing less, Kamala and I have pursued an ambitious climate policy focused on growth. And the public and private sector led the development. All of you in this audience, you've led. Building our economic capacity. Together we've proven a strong middle class, thriving innovation and manufacturing are the key to winning climate here at home and abroad. Here are the key climate pages from the new economic playbook. We rejoined the Paris Agreement immediately after my predecessor had walked away. We've got to work planning private capital, or pulling private capital off the sidelines, getting the workers in the game, and once again, leading the world on climate. Bringing jobs back home, manufacturing and technology. We invented here in the United States decades ago, bringing it back. We're bringing back hope and pride in communities. Opening shuttered factories and zip codes too often left behind. I might point out, I was criticized very much for having done more to invest in red states than blue states. But I made a commitment that when I ran, I'd be present for all people, all people, whether they voted for me or not. And we're doing that in what I call investing in America agenda. I wrote and signed a law, the Inflation Reduction Act. Most significant climate law ever passed in the history of the world. We were told it couldn't get done, but we did it. More than $369 billion in climate and clean energy. Not a single Republican voted for it, but the Inflation Reduction Act lowers energy costs for families with rebates and tax credits to install rooftop solar and energy efficient appliances, weatherizing their windows and doors and high-tech insulation, and more efficient heating and cooling systems, and so much more. And you get a tax credit for doing it. The groundbreaking laws also catalyze clean energy innovation in areas like battery technology, nuclear energy, geothermal, that will create hundreds of thousands of jobs for American workers. In fact, along with other historic investments in infrastructure, and our infrastructure bill was $1,300,000,000,000 in science and technology, private companies in the United States and globally have announced investments of nearly $1 trillion in clean energy manufacturing here in America in the last three years. And you all are the leaders of that. You're the ones. We're just getting started. In the face of the dangerous and deadly impacts of climate change, we're also making our cities and towns more resilient. This is a new formula on climate, creating jobs, reducing pollution, cleaning up our water and air, improving our quality of life, building a better America. For example, once in a generation modernization of our grid means this year we'll add more new electric capacity than we have in two decades, and 96% of that will be clean energy. I went to the University of Delaware and a university professor who was the first professor of first solar powered building and inspired residential solar adaptation. More than 80% of the solar panels and components are manufactured in China though. But now we're turning that around. American solar panel manufacturing is up four times what it was four years ago. There's more to come. America invented the lithium ion battery technology that's powering our clean energy transformation, including electric vehicles in the grid. When Kamala came to office, America was barely making any, any of these batteries, while other countries are commercializing them, but not anymore. There are more than 14 gigafactors, massive large scale factories are opening or under construction to make advanced batteries here in America and more to come. We're also making the battery components here in America, making sure the supply chain starts in America. And all this is helping power an electric revolution in transportation. We've quadrupled the development of electric vehicle since it took off. We're deploying a fleet of clean school buses that will not pollute the air. Our postal service is going fully electric. We've invested $45 billion in electric trains in America because of a person can choose between a car and a train and get to the destination at the same time. 70 to 80% of that, they will take the train and it's 70 to 80% less pollution than driving the same distance. And we now have tools to lower emissions from building material. For the first time ever, we're beginning to produce clean steel, cement and aluminum. I think most Americans have no idea how much pollution has occurred when you make cement. Well, the American people know how much pollution heavy industries produce since each one produces as much pollution as a small country. We're now making most significant investment ever in rural America. 80,000 farms across America are implementing climate smart agriculture, cover crops, nutrient management, storing carbon in the soil, which creates new sources of wealth for farmers, families and them at the same time. We're also carrying out the most ambitious conservation agenda in a long time. We're on track to conserve a commitment I made, 30% of all our lands and waters by the year 2030. Since taking office, my administration has already conserved over 42 million acres. Inflation Reduction Act is also the most significant law ever advanced in environmental justice for disadvantaged and so-called fence line communities like Cancer Alley in Louisiana or Route 9 corridor in Delaware. We're making sure these communities receive 40% of the benefits of the key investments in pollution reduction, clean energy infrastructure. All this matters, matters a great deal. Just under four years, the economy has created nearly 16 million jobs, most ever in a single presidential term. In just two years since the Inflation Reduction Act, we've created more than 330,000 clean energy jobs. I should say you created, you created that. Clean energy jobs are growing twice as fast in the economy as the economy overall. Clean energy workers, the joint union is the highest level in history. And I'm really proud to have launched the American Climate Corps, pattern after the Peace Corps in America with tens of thousands of young people on the path to good paying clean energy jobs to improve our environment and grow our economy. And you know, the United States has reasserted America's position as a global leader in climate. We're leading an all out effort to partner with nations to reduce global emissions, limit global warming to 1.5 degrees Celsius. You all remember when Putin invaded Ukraine, which sent food and energy prices soaring around the world and showing just how volatile and fragile a fossil fuel based economy can be. The United States rallied the world against Putin's aggression. We've led the world in releasing oil reserves and stabilizing global energy markets while also working quickly as possible to avoid clean energy resources. You know, I convened summit leaders on climate and the American Leaders Summit, the African Leaders Summit, I should say. In COP 28, the United States galvanized the world to commit for the first time to transition away from unabated fossil fuels. Across the board, America's climate leadership has encouraged American companies to invest in private capital with clean energy development and some low to middle income nations. And so much more. I thank the business leaders who are here today for leading the way, and I mean that. All this historic climate change is in stark contrast to my predecessor. He says he repealed the inflation reduction. He let our factories shut down. He moved the world backwards. His denial of climate change condemns our future generations to a more dangerous world. And by the way, windmills do not cause cancer. I think we've laid out a better choice, and today we're in a better position than any other nation in the world to promote a clean energy future. In fact, it's a perfect time to go big. The market for clean energy is booming. Inflation is way down in America. The Federal Reserve just announced lowering interest rates. I predict they'll go further down. We should give business even more confidence to invest trillions of dollars that are on the sidelines in the clean energy industries of the future. I'm doing my part, and I'm calling on other companies with the capital in the room to invest more and do more. Now's the time. Let me close with this. Four years, though, we've gone from historic crisis to historic process, progress. And in doing it, with a new playbook based on one of the oldest truths of our nation, invest in America, believe in America, believe in possibilities, and share it with the world. That's what I see if I could see all of you when I look at all of you. I really mean this. I know I only look like I'm 40 years old, but I'm a little older. You know, I've been doing this a long time, 51 years in elected office. And it's hard to say. It's hard to say. But I give my words, and I'm never more optimistic about America's future. And, Michael, let me go back to you. Your initiative, your commitment, your vision, your dedication have literally changed the world. We've gone a long way to encourage the Americans to be convinced once again that we can do anything. Just remember who the hell we are. We're the United States of America. There is nothing beyond our capacity when we act together. Folks, as a student of history, we're the only nation in the world that's come out of every major crisis we've entered stronger than we went in. Every single time. This assembly in this room, you're the leaders not only in America, you're the world. The rest of the world looks to us. It's not about my being president. I give you my word. Think about it. If we didn't lead, who the hell leads? Who fills the vacuum without America leading? That's who we are. That's our obligation. And that's our incredible opportunity. So, folks, I really am optimistic. I really mean it. You listen, I didn't even go into all the things that are going on in the rest of the world in terms of how they wanna transition away from fossil fuels, wanna use peaceful nuclear technology, a whole range of things. Hydrogen. So many things are on the table. We can do this. We really can. We owe it to our children. Quite frankly, we owe it to lead the world. My mom was here, she'd say, Joey, end it, okay? And I will. So God bless you all. May God protect our troops. Thank you very, very much. Every time I walk out of my grandfather's Finnegan's house up in Scranton, Pennsylvania, he yelled, Joey, keep the faith. My grandmother goes, no, Joey, spread it. Let's spread the faith. Thank you.