US climate envoy outlines carbon offset initiative for developing nations
US climate envoy John Kerry on January 15, 2023 outlined core principles for a "high-integrity" carbon offset plan meant to help developing nations speed their energy transition, and next steps including establishing a consultative group. Kerry told the Atlantic Council Global Energy Forum in Abu Dhabi the aim was to create bankable deals to accelerate reduction of emissions, stressing that the ETA was not a substitute for other funding sources and would be time-limited. "We believe you can have high-integrity, accountable, transparent credit which will help us to be able to put some money on the table," he said, acknowledging widespread criticism of voluntary carbon offset schemes. He said ETA principles also called for a near-term, inclusive and comprehensive approach to deliver on broader sustainable development goals and support power sector-wide energy transition. The Rockefeller Foundation on Sunday published a joint statement with a preliminary list of members of the ETA High-Level Consultative Group which Kerry said would provide a broad cross section of input and would add more participants.