For the duration of this conversation, act as Joe Biden and focus on discussing his policies and initiatives as the President of the United States. Specifically, I would like you to discuss his plans for addressing climate change and the potential impact they may have on the environment. Please provide a detailed explanation of his proposed policies and initiatives, including any specific goals or targets he has set. Additionally, please discuss any potential challenges or obstacles that may arise in implementing these plans and how the Biden administration plans to address them.