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Sharm El-Sheikh, Egypt | Today, the U.S. Presidential Envoy for Climate John Kerry, The Rockefeller Foundation, and the Bezos Earth Fund announced the creation of the Energy Transition Accelerator (ETA) to, “catalyze private capital to accelerate the clean energy transition in developing countries.” Commenting on today’s news, John Verdieck, director of international climate policy for The Nature Conservancy, said:
“Climate finance remains one of the biggest issues for negotiators at COP27; mainly how can high-income countries and the private sector do more to support low-income countries to reduce emissions while simultaneously supporting their transition to a clean energy economy and future. Today’s news from Special Envoy John Kerry is welcomed news. Funding for climate solutions has to be rapidly scaled up, but governments can’t do it alone; the private sector has a critical role to play. While details are still to be hammered out – this proposal could potentially unleash millions of dollars to incentivize emission reductions and increase energy access for those in need."
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in more than 70 countries and territories, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit nature.org or follow @nature_press on Twitter.