Biden Administration Announces Over $6 Billion to Boost Climate Resilience

President Biden has announced the release of the Fifth National Climate Assessment report, or NCA5, which evaluates changes in the climate and its impacts, as well as options to lower present and future risk. Biden also announced more than $6 billion in investments to support climate resilience including strengthening the aging power grid infrastructure, lowering flood risk to communities, enhancing conservation efforts, and advancing environmental justice.

The NCA5 provides details on regions already experiencing the impacts of climate change and the actions implemented in order to address climate change. Federal, state, local, and tribal actions to mitigate and adapt to climate change have significantly increased, and the affordability of zero-carbon and low-carbon energy options has been rapidly increasing, according to the report. Nevertheless, climate change related extreme weather events still remain a threat, costing the U.S. at least $150 billion annually, disproportionately impacting underserved and overburdened communities.

The investments include $3.9 billion announced by the U.S. Energy Department through the 2021 Infrastructure Investment and Jobs Act to strengthen the power grid in the face of increasingly frequent climate events. This marks the second round of funding under the $10.5 billion Grid Resilience and Innovation Partnerships program intended to fund projects that enhance grid reliability and resilience using advanced technologies and innovative partnerships and approaches.

A $2 billion program, funded by the 2022 Inflation Reduction Act, will support community-driven projects that install clean energy, bolster climate resilience, and empower communities to tackle environmental and climate justice challenges. This funding, made available through the Environmental Protection Agency’s Environmental and Climate Justice Community Change Grants program, will invest in multi-year partnerships between community-based organizations, local governments, higher education institutes, and federally- recognized tribes. The agency will provide $200 million in technical assistance and capacity building support to help access the federal resources.

The funding will also assist the Biden administration in releasing new resources to boost climate resilience efforts, such as the implementation of advanced technologies such as distributed energy resources and battery systems to support vital grid services.

The Biden Administration remains committed to reducing greenhouse gas emissions and ensuring the U.S. reach their climate goals. Greenhouse gas emissions across the U.S. have significantly declined, in line with climate actions as a result of policies enforced and promoted by the administration. Moreover, the reduction in wind energy costs by 70 percent and solar energy costs by 90 percent over the last decade, have incentivised cleaner generation sources to become more viable and this has been a vital component of the energy transition.