The agreement reached at COP28 in Dubai, which for the first time calls for a phase-out of fossil fuels, is a “historic turning point”, the US said today president joe biden.

“A lot of work remains to be done to reach the 1.5 degree target (of limited warming), but today’s result brings us a big step closer,” he said in a statement.

The Democratic president, 81, says he has launched what he calls the “biggest investment in the world” against climate change through a major energy transition law.

Biden, who is also working to reduce the price of gasoline in the US, reiterates in his announcement that climate change is an “existential threat”.

“As America has always done, we will turn crisis into opportunity,” he points out.

Biden, who will seek a second term next year, is often attacked by Republicans — some of whom openly question climate change — over his energy transition policy.

The US is currently the second largest emitter of greenhouse gases, behind China. However, counting emissions accumulated since 1850, they remain in first place.