Sec. 303. Sense of Congress on United States engagements at the World Economic Forum
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Congress finds the following: In 2020, the World Economic Forum (referred to in this section as the WEF ) in Davos, Switzerland, put addressing the climate crisis at the top of its agenda. World and business leaders reinforced the need for urgent action to avoid human destruction from the clear and present climate crisis. At the 2020 annual meeting of the WEF, the President, accompanied by the Secretary of the Treasury, delivered a contrarian message, claiming, To embrace the possibilities of tomorrow, we must reject the perennial prophets of doom and their predictions of the apocalypse. .
Nevertheless, the WEF, without support from the United States, announced climate initiatives on sustainable markets, reaching carbon neutrality on insurance investment portfolios, decarbonizing the automotive sector through circular economies, and transitioning to healthier, more sustainable food systems. The one initiative the United States did agree to join is the Trillion Tree Campaign, which aims to grow, restore, and conserve 1 trillion trees by 2030. The President’s dismissal of the threat climate change poses to economic growth and global security has isolated the United States from the 117 represented countries at the WEF that support its climate agenda and are accelerating their national commitments in other international fora to address climate change.
It is the sense of Congress that at the 2021 WEF, or at an appropriate time and venue as early as possible in 2021— the Secretary of State should commit to restoring diplomatic engagement and cooperation on mobilizing investment and support for growing the global economy while achieving net zero global greenhouse gas emissions by 2050; the Secretary of the Treasury should announce— the intention of the United States Government to divest from future investment and support for fossil fuel energy and extraction projects in developing countries; and the establishment of an international clean energy private finance fund to support the development of large-scale renewable energy projects in middle income countries; the Chief Executive Officer of the United States International Development Finance Corporation should commit to— divesting the United States International Development Finance Corporation from future fossil fuel energy development and extraction projects; and investing a significant portion of the annual portfolio of the United States International Development Finance Corporation in clean energy development projects; and the Administrator of the United States Agency for International Development should commit to prioritizing building resilience and adaption capacities in the most climate-vulnerable countries.