The new baseline temperatures are a reflection of climate change.
Reducing greenhouse gases called hydrofluorocarbons or HFCs has support within the air-conditioning and refrigeration industries.
Those in areas prone to flooding are weighing whether it's better to stay in a home, or take a government buyout.
Swiss Re, one of the world's biggest insurers, projects that by 2050, climate pressures could reduce the world's GDP by 14%.
The administration will work with domestic and international government agencies as well as private finance.
Biden is making the announcement as a global climate summit of dozens of world leaders kicks off.
Car manufacturers want a clear vision of where the country is headed, to create a consistent production process.
The U.S is threatening further sanctions against the Nord Stream 2 natural gas pipeline linking Russia and Germany.
Former Treasury Secretary Jack Lew says the U.S. needs to mobilize around infrastructure at home and abroad.
One way to pay directly for the cost of climate damage from fossil fuels is to impose a tax on carbon.