"Biden’s climate legacy hangs in the balance — we need bold leadership, not tinkering around the edges. Declaring a climate emergency would make it clear that Biden views the climate crisis as an existential threat and unlock key powers to tackle climate change head-on and hasten a just transition to clean, renewable energy," said Rees.

Credendo's new policy is meant to implement the Glasgow commitment to end international public finance for fossil fuels by the end of 2022, but it leaves loopholes for existing oil and gas fields and gas-fired power.

"We can't transition away from fossil fuels by locking in five more years of deadly extraction, and Biden can't claim to care about environmental justice while forcing oil and gas drilling on already burdened communities," said Collin Rees.

"This Supreme Court decision was illegitimate and wrong, but does almost nothing to constrain President Biden's toolbox to address the climate crisis," said Collin Rees.

The Glasgow Statement on public finance requires signatories to end new direct overseas support for fossil fuels by the end of 2022 and fully prioritize finance for a clean and just energy transition. But only a handful of signatories have begun to turn these pledges into action.