Biden promises US to double climate aid for developing countries

President Joe Biden told an international climate summit Thursday that the United States will double aid to developing countries tackling the crisis.

"To help them meet that goal, the United States will double... by 2024 our annual public climate financing development to developing countries," he said.

Biden, who was hosting the virtual summit from the White House, said that in addition, the US Development Finance Corporation was "committed to net zero emissions through its investment portfolio by 2040."

It would also target making "climate focused investments" account for 33 percent of all new investments from 2023, which he said was "the earliest of any country."