Today is the finance day for COP27, where all influential financing and deals will take place. You can watch a live stream of the event through the Egyptian Ministry of Finance Youtube Channel.
Update 1
John Kerry U.S. climate envoy will announce a new carbon credit program today to support developing countries in generating green energy and cutting fossil fuels.
It's a voluntary initiative where primary funding sources are from the private sector across the U.S. and other countries,
"A U.S. official familiar with the matter said the program aims to raise tens of billions of dollars by boosting the ability of regions and countries in the developing world to sell credits whenever they shut down fossil-fuel-energy sources such as coal mines or accelerate renewable-energy construction." Source: WSJ
Egypt has already done a lot of green projects during the past 5 years, including the Benban solar power station, one of the world's largest solar stations; Egypt is ready to cash in USD from carbon credit through John Kerry Program.
Source: Blommberg - WSJ
Comments