‘We desperately need money,’ climate envoy Kerry tells CNN amid criticism of his emission credits plan
By David McKenzie, Ingrid Formanek, Chris Liakos and Ivana Kottasová, CNN
Updated 12:22 PM EST, Thu November 10, 2022
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US climate envoy John Kerry on Thursday defended his plan to raise cash for climate action by selling carbon emission offsets to companies, telling CNN there was “not enough money in any country in the world to actually solve this problem.”
Speaking to CNN at the COP27 climate summit in Egypt, Kerry said the world cannot avoid the worst effects of the climate crisis without private money – because governments are not willing to pay what’s needed.
Kerry’s plan to finance the renewable energy transition in vulnerable countries by allowing companies to pay for someone else to cut their planet-warming emissions, instead of cutting their own, raised concerns among climate experts. Many have warned that selling carbon credits could discourage companies from making real cuts to emissions.
https://edition.cnn.com/2022/11/10/world/cop27-john-kerry-interview-intl-climate/index.html
