As per Reuters, Biden stated during the virtual meeting that "with the right commitment and follow-through from every nation ... on this call, the goal of limiting warming to 1.5 degrees can stay within reach."

The countries that took part of the discussion are responsible for around 80% of the globe's total CO2 emissions, White House officials say. The US will contribute with one billion USD to the climate fund, which will go towards clean energy projects and increasing the resilience against climate change-related events.

Biden added that "as large economies and large emitters, we must step up and support these economies."

The US president is also looking to request 500 million USD over the next half-decade in order to help protect the Amazon region from deforestation.

Joe Biden's goal regarding limiting his own country's carbon output is that, by 2030, the US should reduce its emissions by 50 to 52% compared to 2005 levels.

At the same time, European Commission President Ursula von der Leyen announced a EU initiated effort for new global targets regarding energy efficiency and renewable energy production output.

She added that "these targets would complement other goals, such as the phaseout of unabated fossil fuels and the ambitious goals for zero emission vehicles and ships."