John Kerry addresses COP27 on clean energy transition

At this year's U.N. climate meeting, US climate envoy John Kerry announced his country's plan to offset global carbon emissions by raising cash from private companies to help developing countries shift away from fossil fuel. The US government will work with the Bezos Earth Fund and the Rockefeller Foundation to launch the program, which is designed to entice companies to purchase carbon offsets.

John Kerry, US climate envoy said " I am so pleased today to be joined with my good friends, Rasha of the Rockefeller Foundation and Andrew Steer of the Bezos Fund to announce a new partnership to catalyse private capital to accelerate the energy transition in developing countries and we're calling this effort the 'Energy Transition Accelerator.'"

The money will be given to developing nations to help them move to renewable energy resources. Nigeria and Chile had expressed their interest in the program.