Biden: "US Faces $117 Trillion Loss This Year Due to Climate Change"

[Image source=AP Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] U.S. President Joe Biden predicted that this year's severe climate change in the United States will cause economic losses amounting to $100 billion (approximately 117.2 trillion KRW).

President Biden, who is visiting wildfire and drought damage sites in the western U.S., made the remarks on the 14th (local time) after touring the National Renewable Energy Laboratory in Golden, Colorado, according to major foreign media.

The western U.S. experienced record-breaking heatwaves and droughts this summer, resulting in severe wildfire damage. In addition to the western region, southeastern areas such as Texas have been plagued by ongoing storms and hurricanes, and the northeastern region, including New York, has suffered from unusual flooding.

President Biden's visit to the western region was also intended to promote the $3.5 trillion infrastructure budget currently being negotiated in Congress.

He emphasized, "Extreme climate disaster phenomena will become more ferocious," adding, "Investments to slow the impact of climate change must be made not tomorrow, but today."

During his visit to Sacramento County, California, the previous day, President Biden also urged Congress to promptly pass the infrastructure budget, which includes funds for wildfire damage recovery.