U.S. climate envoy Kerry outlines carbon offset initiative for developing nations

FILE PHOTO: John Kerry, U.S. Special Envoy for Climate speaks as he attends the opening of the American Pavilion in the COP27 climate summit in Egypt's Red Sea resort of Sharm el-Sheikh, Egypt November 8, 2022. REUTERS/Mohammed Salem

ABU DHABI (Reuters) - U.S. climate envoy John Kerry on Sunday outlined core principles for a "high-integrity" carbon offset plan meant to help developing nations speed their energy transition, and next steps including establishing a consultative group.

The Energy Transition Accelerator (ETA), first announced at last year's COP27 climate conference, is being developed by the United States with the Bezos Earth Fund and the Rockefeller Foundation to mobilise private capital.