Kerry launches carbon offset plan

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US climate envoy John Kerry yesterday announced the creation of a carbon offset plan meant to help developing countries speed their transition away from fossil fuels. Kerry launched the Energy Transition Accelerator (ETA) with the intention of funding renewable energy projectsand accelerating clean energy transitions in developing countries. The United States will develop the program with the Bezos Earth Fund and Rockefeller Foundation, with input from the public and private sectors which would operate through 2030 and possibly be extended to 2035. Kerry said Chile and Nigeria were among the developing countries to have shown early interest in the ETA, and that Bank of America, Microsoft, PepsiCo and Standard Chartered Bank had voiced interest in “informing the ETA’s development”.