US Climate Envoy Kerry Announces New Carbon Market

LOS ANGELES, CALIFORNIA - JUNE 09: Special Presidential Envoy for Climate John Kerry speaks during a panel during the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. The CEO Summit entered its second day of events alongside the Summit of the Americas, which is hosting leaders from across the Western Hemisphere. (Photo by Anna Moneymaker/Getty Images)

At a glance

  • U.S. climate envoy John Kerry announced plans for companies to buy carbon credits to support countries switching out of coal power on Wednesday.
  • Speaking at the U.N. Climate summit COP27, Kerry said that companies including Microsoft and PepsiCo were involved in the plans, while countries and environmental groups were also supportive.
  • Fossil fuel companies were excluded, however, he said.

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