Tag: John Kerry

  • U.S. launches carbon offset program to assist growing nations pace blank power transition

    US Particular Presidential Envoy for Local weather John Kerry speaks on the opening of the United States Pavilion all the way through the COP27 local weather convention on the Sharm el-Sheikh World Conference Centre, in Egypt’s Pink Sea hotel town of the similar identify, on November 8, 2022.

    Ahmad Gharabli | AFP | Getty Photographs

    U.S. Local weather Envoy John Kerry on Wednesday unveiled a carbon offset plan that will permit firms to fund renewable power initiatives in growing nations which might be suffering to transition clear of fossil fuels.

    This system, known as the Power Transition Accelerator, is in partnership with philanthropic teams just like the Rockefeller Basis and the Bezos Earth Fund and will likely be finalized over the approaching yr. Officers argue it might funnel billions of greenbacks from the non-public sector into the economies of growing nations operating to shift to renewable energy assets like wind or sun.

    The plan will create a brand new elegance of carbon offsets that constitute investments in initiatives that assist boost up renewable power initiatives or construct local weather exchange resilience in a growing nation. Companies should purchase those offsets to steadiness out some portion in their CO2 emissions, and the cash will pass to those initiatives.

    Chile and Nigeria are a number of the growing nations occupied with this system, the State Division mentioned, and Financial institution of The us, Microsoft, PepsiCo and Usual Chartered Financial institution have “expressed passion in informing the ETA’s construction.”

    Voluntary carbon offset methods were extensively criticized as insufficiently regulated schemes that permit governments and companies to undermine net-zero emission goals. Studies have proven, as an example, that land managers don’t seem to be converting their logging practices in some forests the place offsets have been bought, and that some stands of bushes that have been supposedly “stored” had already been preserved and were not slated for logging anyway.

    As a way to purchase those credit below the brand new program, firms will have to dedicate to reach net-zero emissions via 2050 and document once a year on emissions in addition to growth towards the objective, in step with a draft of the plan. Fossil gasoline firms also are now not allowed to take part in this system.

    However a number of main environmental teams mentioned they don’t seem to be supporting the plan, arguing the proposal lacked main points and may in the end undermine efforts to cut back world emissions.

    Rachel Cleetus, coverage director with the local weather and effort program on the Union of Involved Scientists, mentioned the proposal fails to satisfy the urgency of the local weather disaster and isn’t an alternative choice to the general public finance that growing nations require to shift clear of fossil fuels.

    “Carbon offsets don’t seem to be a solution in a global already on fireplace, below water and going through mounting local weather losses and harm,” Cleetus mentioned. “A voluntary carbon credit score program may not ensure deep, actual cuts in emissions — it is tantamount to rearranging the deck chairs because the local weather send is taking place.”

    Global Assets Institute CEO Ani Dasgupta mentioned in a commentary that this system “has to make sure guardrails for a way firms take part and that the investment advances growing nations’ personal priorities for a simply power transition.”

    Kerry introduced the proposal on the United International locations Local weather Alternate Convention in Egypt, often known as COP27. The summit has partially involved in directing investment to assist deficient countries get well from loss and harm led to via local weather exchange.

  • John Kerry says blank power transition is the most important marketplace the sector has ever noticed

    Particular Presidential Envoy for Local weather John Kerry listens as President Gabriel Boric Chile speaks earlier than a signing rite for the “Global Coalition to Attach Marine Secure Spaces” on the CEO Summit of the Americas on June 09, 2022 in Los Angeles, California. The CEO Summit entered its’ 2d day of occasions along the Summit of the Americas, which is internet hosting leaders from around the Western Hemisphere.

    Anna Moneymaker | Getty Pictures Information | Getty Pictures

    Rebuilding the economic system to decarbonize is vital to reduce the demise and destruction led to via international warming. However it is also probably the most greatest alternatives to earn cash in generations, in line with feedback made via the Particular Presidential Envoy for Local weather John Kerry on Thursday.

    “That is the most important marketplace the sector has ever been watching: the power transition marketplace,” Kerry mentioned on the IV CEO Summit of the Americas hosted via the U.S. Chamber of Trade in Los Angeles.

    “Each and every facet of existence can also be impacted in a favorable means. It is not one thing to worry — that we need to shun and shy clear of. We need to embody this transition which can, in any case, I ensure you, be higher than in the long run than the Business Revolution used to be.”

    The Business Revolution is the time frame from the mid-1700s to the mid-1800s, roughly, when processes went from being accomplished via hand to being accomplished via system.

    It is a possibility, on the other hand, that america isn’t taking as severely as many different countries on this planet, Kerry mentioned.

    “Each and every nation I’m visiting is extra seized via this factor than we’re but in america, regrettably,” Kerry mentioned. “And I say that truly unfortunately.”

    Kerry praised the White Space. President Joe Biden is devoted to local weather, Kerry mentioned in a dialog moderated via the mayor of Los Angeles, Eric Garcetti.

    Kerry blamed, no less than partly, political polarization for slowing down the growth america is making.

    “We will be able to do that. We will be able to do an entire bunch of this at the moment, apart from for our politics,” Kerry mentioned.

    Kerry mentioned even the numerous international locations which can be shifting sooner than america don’t seem to be shifting speedy sufficient.

    International locations world wide wish to deploy renewables, reminiscent of wind and sun, 5 – 6 occasions sooner than they’re lately to fulfill the most well liked goal of the Paris Settlement. The settlement is a objective established in 2015 via the global group to prohibit international warming to “neatly beneath” 2 levels Celsius — “and ideally” to at least one.5 levels Celsius — when put next with preindustrial ranges.

    The worldwide group must transition clear of coal six occasions sooner than we’re and deploy electrical cars 22 occasions sooner than it’s lately going down, in line with the Global Power Company, Kerry mentioned.

    Kerry mentioned that lowering emissions to restrict international warming isn’t a question that are meant to be debated.

    “It’s pushed via biology, chemistry, physics, arithmetic,” Kerry mentioned. “And it’s predictable and has been predicted for 35 years.”

    Along with the political hurdles america is dealing with, it additionally wishes a “full-fledged” buy-in from the non-public sector, Kerry mentioned.

    “Our enemy at the moment, and I say this courteously, is the established order. We’re preventing towards individuals who nonetheless need to make a choice the trail of least resistance to this problem,” Kerry mentioned. “And it occurs, sadly, to be the trail of largest destruction.”

  • ‘We’re in hassle:’ U.S. envoy warns nations off monitor on local weather objectives

    The arena is “now not on a just right monitor” to fulfill an international purpose to keep away from the worst affects of local weather exchange and must step up efforts to transport clear of fossil fuels this decade, John Kerry, the U.S. particular envoy on local weather exchange, stated on Monday.

    “We’re in hassle. I’m hoping everybody understands that,” Kerry informed an tournament referred to as Development Momentum to UN COP27 hosted via the U.S. Chamber of Trade and officers from Egypt, the host of the following UN local weather summit.

    Kerry informed the development that he’s involved in regards to the fresh uptick in using coal globally and about plans to construct new coal crops with out carbon seize generation.

    Egypt will host in November the following UN local weather summit, referred to as COP27, in Sharm el-Sheikh the place the federal government will glance to show off its personal paintings to section out coal in energy technology, support control of waste water, and release the development of public transportation initiatives.

    Egyptian International Minister Sameh Hassan Shoukry stated because the host of the UN local weather summit, Egypt will goal to be a voice of African international locations who’re a few of the maximum suffering from local weather exchange and concentrate on enforcing what has been codified within the Paris local weather settlement.

    “We will be able to be paying attention to the wishes and priorities of Africa and different growing nations who’ve suffered very much from the unintended effects of local weather exchange,” Shoukry stated.

  • Invoice Gates, John Kerry tension ‘pressing’ want for companies to sign up for local weather combat

    Invoice Gates speaks right through the World Funding Summit on the Science Museum on October 19, 2021 in London, England.

    Leon Neal | Getty Pictures Information | Getty Pictures

    Invoice Gates has stressed out the pressing want for companies to step up and put money into rising inexperienced applied sciences because the combat towards local weather trade intensifies.

    Talking by way of videoconference at The Davos Schedule digital tournament Wednesday, Gates mentioned the give a boost to and funding of the non-public sector used to be had to make the brand new applied sciences extra extensively to be had.

    Environmentally-friendly traits in spaces similar to inexperienced hydrogen, direct air seize and blank aviation gas exist already, however companies want to each assist construct — and grow to be consumers of — such merchandise to lead them to extra reasonably priced, he mentioned.

    “In any case, it in point of fact does come all the way down to economics. We need to make it way more financial,” mentioned Gates, whose corporate Leap forward Power invests in sustainable applied sciences.

    “Pairing the ones new applied sciences with the massive firms, that experience talents to construct the ones issues at scale, I see that because the pressing schedule.”

    The feedback come months after COP26 in Glasgow, which noticed file commitments to local weather motion from the non-public sector. Those incorporated company indicators ups to the First Movers Coalition, a sustainable funding initiative introduced via the Global Financial Discussion board and U.S. local weather envoy John Kerry.

    Additionally talking Wednesday, Kerry hailed the “extraordinary personal sector engagement” at COP26, calling it an important a part of the answer.

    “No govt on the planet has the amount of cash we want to have an effect on this transition,” he mentioned at The Davos Schedule. “It is going to be personal sector funding and personal sector discovery greater than anything … that is what will get us out of this hollow.”

    Tipping issues being arrived at

    Then again, Kerry additionally stressed out the urgency for extra firms to become involved.

    “We all know we will be able to do the issues. We’ve got to push the method as unexpectedly as we will be able to,” he mentioned. “That is the imaginative and prescient we need to convey to the desk within the subsequent months and years.”

    Remaining week, the Global Financial Discussion board revealed its World Dangers Document 2022, through which failure to behave on local weather trade used to be cited as the best international chance over the following 10 years.

    In a separate record additionally free up final week, the Nationwide Oceanic and Atmospheric Management discovered that 2021 used to be probably the most catastrophic local weather years on file, with the U.S. by myself being hit via 20 separate billion-dollar screw ups.

    “The NOAA record will have to scare someone,” Kerry mentioned. “We in point of fact are seeing tipping issues arrived at and the crucial to transport quicker in point of fact may no longer be higher.”

    — Do not omit Geoff Cutmore’s dialogue with ECB President Christine Lagarde, Brazilian Financial system Minister Paulo Guedes, IMF MD Kristalina Georgieva and India’s Finance Minister Sri Mulyani Indrawati at 7.30 a.m. ET Friday. They are going to be discussing the “World Financial Outlook” on the Davos Schedule. You’ll be able to watch reside right here.