The US has announced a new initiative that aims to leverage surging corporate demand for carbon credits to help bankroll developing countries' transition away from fossil fuels and towards clean energy.
US climate envoy John Kerry formally announced the scheme at the COP27 Climate Summit morning, as the overnight results of the US midterm elections suggested the White House' climate policy agenda could receive an unexpected boost after the Democrats performed better than anticipated. It remains unclear at this stage if the party can retain control of the Senate and House of Representatives, but the Republicans failed to secure many of the gains they were expecting, with the results set to be interpreted as something of a vindication of Joe Biden's presidency. The plan announced by Ke...
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