US to double climate change finance to poorer nations, says Biden
The US will again double the money it gives to help developing nations respond to climate change, President Biden has announced.
Mr Biden said in April that America would double its contribution to $5.7bn (£4.2bn), but speaking at the United Nations General Assembly he said it would increase again to over $11bn (£8bn).
In his first appearance at the UN since taking office in January, the president said he would work with the US Congress to secure the extra money.
Mr Biden hopes this commitment, along with increased private finance and contributions from other donors, will help developed countries meet the long-promised goal of delivering $100bn (£73bn) a year for developing countries to deal with the crisis.
The pledge was made in 2009 and was supposed to be achieved by 2020, but was missed by about $20bn, with the greatest shortfall coming from the US, according to ODI analysis.
The news will likely be welcomed by the British Prime Minister Boris Johnson who has used the Assembly to galvanise commitments on climate finance ahead of COP26, crucial climate talks hosted in Glasgow in November.
Meeting the climate finance pledge is seen as key to securing a successful outcome to COP26, where developing countries – who have usually done the least to contribute to climate change – will be reluctant to engage and make ambitious climate pledges without sufficient funding help.
President Biden told the UN the world must “work together as never before” in a year that has “brought widespread death and devastation from the borderless climate crisis” in the form of “extreme weather events… in every part of the world”.
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PM: COP26 a ‘turning point for the world’
“Scientists and experts are telling us that we’re fast approaching a point of no return,” warned the president.
He laid down the gauntlet to other nations, urging every state to “bring their highest possible ambition to the table” at COP26 in order to “keep within our reach the vital goal of limiting global warming to 1.5C”.
Mr Biden has been keen to re-establish America’s prime position on the world stage, as well as international alliances, after years of “America First” policies under Donald Trump.
He moved to reinstate the US commitment to the Paris climate agreement just hours after being sworn in.
Many more leaders will address the UN General Assembly on Tuesday, including Iran’s recently elected hardline president Ebrahim Raisi, and Chinese President Xi Jinping – who will give a pre-recorded video address.
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Police in riot gear have raided Columbia University and arrested pro-Palestinian protesters after demonstrators occupied one of its buildings.
It comes after New York City Mayor Eric Adams said on Tuesday that the demonstration at the Ivy League school “must end now” and claimed it had been infiltrated by “professional outside agitators”.
University bosses said they called in the New York Police Department (NYPD) after protesters “chose to escalate the situation through their actions”.
“After the university learned overnight that Hamilton Hall had been occupied, vandalised, and blockaded, we were left with no choice,” the university said in a statement.
Police enter Hamilton Hall. Pic: Reuters
Police gather around Columbia University before moving in to break-up the protest. Pic: Reuters
Police stand guard near an encampment of protesters on the grounds of Columbia University. Pic: Reuters
Arrested protesters from Columbia University are loaded onto a bus. Pic: Reuters
“The decision to reach out to the NYPD was in response to the actions of the protesters, not the cause they are championing.
“We have made it clear that the life of campus cannot be endlessly interrupted by protesters who violate the rules and the law.”
The protest began when students barricaded the entrance of Hamilton Hall at the Manhattan campus on Tuesday and unfurled a Palestinian flag out of a window.
Video footage showed protesters locking arms in front of the hall and carrying furniture and metal barricades to the building.
A group called Columbia University Apartheid Divest (CUAD) said they had renamed the building “Hind’s Hall” in honour of Hind Rajab, a six-year-old girl killed in a strike on Gaza in February.
Protesters unfurled a flag with the words ‘Hind’s Hall’. Pic: Reuters
Protesters hang banners on the exterior of Hamilton Hall building.
Pic: Reuters
Demonstrators said they planned to remain at the hall until the university conceded to the CUAD’s three demands: divestment, financial transparency and amnesty.
However, officers moved in on the campus on Tuesday night after university bosses wrote to New York City officials and the New York Police Department formally asking for assistance.
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A large group of officers dressed in riot gear entered the campus late on Tuesday evening. Officers were also seen entering the window of a university building via a police-branded cherry-picker-style vehicle.
Earlier, Mayor Adams urged demonstrators to leave the site. “Walk away from this situation now and continue your advocacy through other means,” he said.
Columbia University also threatened academic expulsions for students involved in the demonstration.
Protesters block the entrance of Hamilton Hall at Columbia University. Pic: AP
Demonstrators block the entrance of Hamilton Hall. Pic: AP
Protests at Columbia earlier this month kicked off demonstrations which have spread to university campuses from California to Massachusetts.
Dozens of people were arrested on Monday during protests at universities in Texas, Utah, Virginia, and New Jersey.
Police moved to clear an encampment at Yale University in Connecticut on Tuesday morning, but there were no immediate reports of arrests.
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Meanwhile, the president of the University of South California issued a statement on Tuesday after a swastika was drawn on the campus.
“I condemn any antisemitic symbols or any form of hate speech against anyone,” Carol Folt said.
“Clearly it was drawn there just to incite even more anger at a time that is so painful for our community. We’re going to work to get to the bottom of this immediately, and it has just been removed.”
Earlier, National Security Council spokesperson John Kirby said President Joe Biden believed students occupying buildings was “absolutely the wrong approach” and “not an example of peaceful protest”.
US
Changpeng Zhao: Former boss of world’s largest crypto exchange Binance jailed for allowing money laundering
The former boss of the world’s largest cryptocurrency exchange has been jailed for four months for allowing money laundering.
The sentence was handed down to Binance founder Changpeng Zhao, nicknamed CZ, after he pleaded guilty to breaching US anti-money laundering laws designed to prevent terrorist financing and funds going to sanctioned countries.
The prison term was far less than sought by US prosecutors who wanted a three-year term – twice the maximum 18 months recommended under federal sentencing guidelines – to be tough on the man once thought to be the most powerful person in the crypto world.
The defence had called for probation with no prison time for their client. A $50m (£40m) fine has already been paid by Zhao.
Despite the massive fine, he remains a billionaire and the wealthiest crypto executive, according to Forbes, with magazine putting his wealth at $33bn (£26.4bn).
Changpeng Zhao
Zhao apologised before his sentencing at a court in Seattle, saying: “I failed here. I deeply regret my failure and I am sorry.”
But district judge Richard Jones told him: “You had the wherewithal, the finance capabilities, and the people power to make sure that every single regulation had to be complied with, and so you failed at that opportunity.”
He is the second major crypto boss to go to prison. Last month, the founder of FTX Sam Bankman-Fried was sentenced to 25 years for stealing billions of dollars from the now-bankrupt crypto exchange.
Bankman-Fried has appealed against his conviction and his sentence.
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Sam Bankman-Fried jailed for 25 years
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A ‘wild west’ model
Zhao stepped down from his role at Binance in November after he and the company admitted evading requirements under the US Bank Secrecy Act.
The company agreed to a $4.3bn (£3.4bn) penalty as prosecutors said it used a “wild west” model that failed to report 100,000 suspicious transactions involving terrorist groups.
Prosecutors had also said Binance supported the sale of child sexual abuse material and received the proceeds of ransomware cyberattacks.
The US Justice Department brought the case as part of its clamp down on criminal activity within cryptocurrency, best known for Bitcoin.
Binance is also being investigated and sued by another US agency, the Securities and Exchange Commission.
The company had once processed about two-thirds of all cryptocurrency transactions.
A two-year-old boy has died after a bouncy castle was lifted off the ground by a strong gust of wind, US authorities have said.
The parents of the boy – named in reports as Bodhi Naaf – are “grappling with unimaginable grief” following the incident on Saturday, a Go Fund Me page said.
The “tragic accident” happened near Casa Grande, Arizona, according to a statement from the Pinal County Sheriff’s Office.
“Several children were playing in a bounce house when a strong gust of wind sent it airborne into the neighbouring lot,” the sheriff’s office said.
“A two-year-old child was transported to the hospital where he passed away.”
A second child was taken to hospital with injuries that were not considered life-threatening, Sky’s US partner NBC reported.
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A GoFundMe page has been set for up for Bodhi’s parents Karl and Cristy, who are expecting a child in late May.
“This devastating loss has left Karl and Cristy grappling with unimaginable grief,” it said.
“Adding to their challenges, Cristy is due to give birth to their second child on 31 May 2024. Amidst their sorrow, they face the daunting task of preparing for the arrival of their newborn.
“As a community, we want to offer our support and alleviate the financial burden that accompanies such tragedies.”
The fundraising page has received than $138,000 (£110,000).
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A spokesperson for the Phoenix Fire Department confirmed the couple has ties to the department, which is providing them with support, NBC said.
The statement said: “We are all devastated by this tremendous loss of life. The fire service prides itself on being one big family.
“Our membership and our department are doing everything we can to support Karl and Cristy during this difficult time.”
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