President Biden unveiled over USD6bn in investments to enhance climate resilience in the U.S. The funds will target various areas, including upgrading the electric grid infrastructure, reducing flood risk, promoting drought resistance, and advancing clean energy at the community level with a focus on climate justice. The primary emphasis, around USD4bn, is on modernizing the U.S. electric grid through the second round of the Grid Resilience and Innovation Partnerships (GRIP) Program. Additionally, the Environmental Protection Agency will allocate USD2bn through its Environmental and Climate Justice Community Change Grants program. Other investments include USD300mn for flood resilience and USD100mn for water infrastructure upgrades to address drought resilience. The announcement coincided with the release of the Fifth National Climate Assessment (NCA5).

Source: ESGToday