(CNN) President Joe Biden on Friday convened a meeting of more than 20 of the world's largest economies to discuss steps to curb methane emissions to address the climate crisis as well as efforts to stabilize global energy markets amid Russia's invasion of Ukraine. At the US-hosted Major Economies Forum on Energy and Climate, the President argued Russian President Vladimir Putin's war has "sharpened the need to achieve long-term reliable energy security and stability," and fueled a "global energy crisis." Biden on Friday announced the US and European Union have launched the next step of their global methane pledge to reduce emissions of the planet-warming gas by 30% by 2030. "Each year our existing energy system leaks enough methane to meet the needs for the entire European power sector. Biden on Friday also announced a new global initiative focused on raising $90 billion to develop and scale new clean technologies to decarbonize.

Source: CNN June 17, 2022 21:23 UTC