As per ESG Today, almost 4 billion dollars of the whole financing will be directed to building a better energy grid system, reducing the impact extreme weather events have on it. Also, experts will look at new ways to make the grid more flexible, as well as more efficient when transmitting power.
Energy storage solutions are also said to be important points of the upcoming resilience-focused projects.
Another 2 billion USD will be directed towards strengthening local communities who are at most risk from climate change-related events, but also those that are constantly under threat from extreme weather phenomena.
At the same time, following the floods that took place between 2022 and 2023, the Biden Administration will also direct 300 million USD towards rebuilding the affected communities with better preparation and damage-prevention mechanisms. Another 100 million USD will be used by experts to address the issues water-stressed communities face, thus lowering the impact of droughts.