Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Private sector has a key role to play in battle against climate change, says US diplomat

Private sector has a key role to play in battle against climate change, says US diplomat

The private sector is “absolutely key to our ability to be able to win” the battle against climate change, according to US climate envoy John Kerry.
Speaking during a session at the World Economic Forum on Wednesday titled “Keeping the pace on climate,” he said the world must find a way to “create the incentives that bring the private sector to the table.”

Governments alone do not have the money required to combat climate change, he added, and so the private sector needs to be involved in the global efforts to limit global warming to 1.5 degrees Celsius above preindustrial levels.

“I believe the private sector is ultimately going to get on side,” Kerry said. “I’ve met a bunch of young entrepreneurs who are doing amazing things in startups; they’re taking risks, their investors are taking risks, and they’re producing new batteries that may have a longer life that allows you to balance your entire grid. I’ve seen folks who are chasing green hydrogen.”

The number of global users of energy will increase from about 5 billion now to 9 or 10 billion in the next 30 years, he added, with demand for electricity to power services, heat and comfort rising as a result.

“And so this is a marketplace,” Kerry said. “And it has the ability to be able to move very, very rapidly, if we will create the right framework and unleash private-sector ingenuity and innovation and capacity to get this done.”

He expressed optimism about the amount of effort and investment going into new technologies to power renewable energy and limit global warming.

“I am hugely encouraged, I mean much more so than I bet at anytime in the last years, by what is happening right now, which opens up an even greater possibility of achieving this,” he said.

“Because so much human energy is going into the new technologies and the innovations that are occurring, they’re going to multiply and magnify on themselves.”

He said that emissions are still the biggest threat and the world must continue to act to reduce them.

“Our enemy is our emissions, and we have to go after the emissions and, therefore, cannot afford to build out a whole new infrastructure of one fossil fuel or another that is going to be with us for 20, 30, 40 years unless they are able to capture those emissions,” Kerry said.

“We don’t have that indication yet or even that full capacity.”
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×