During his recent speech at the Bloomberg Global Business Forum in New York, President Joe Biden highlighted the climate crisis as a significant economic opportunity.

Biden's remarks are part of a broader effort to bolster his climate action legacy ahead of an important election that could shape future U.S. climate policy.

The speech aims to showcase the administration's successes in reducing emissions and mobilizing private sector investment in clean energy and domestic manufacturing.

Under Biden's leadership, the U.S. has rejoined the Paris Agreement and taken a proactive role in global climate action, emphasizing ambitious climate goals.

Key legislative achievements, such as the Inflation Reduction Act and the Bipartisan Infrastructure Law, have allocated substantial funding for clean energy and climate resilience.

Biden pointed out that these laws have led to reduced energy costs for families and lower installation costs for renewable energy technologies.

The administration has also promoted a $20 billion clean energy financing network, benefiting millions of American families through home energy tax credits.

Experts suggest that under a potential Harris administration, significant progress could be made in reducing emissions and creating jobs, further enhancing economic benefits.

Despite the optimism surrounding Biden's climate initiatives, there is anxiety about the implications of the upcoming election for ongoing climate action.

Biden criticized former President Trump for his dismissal of climate change threats and contrasted his administration's proactive approach with Trump's proposed rollbacks.

The UN climate chief has warned that without increased investment in climate initiatives, the world could face a dangerous and inequitable transition.

Biden reiterated the U.S.'s obligation to lead the global response to the climate crisis, emphasizing that the world looks to the U.S. for guidance.