U.S. climate envoy John Kerry unveiled a carbon credit plan to cut emissions.

COP27: U.S. Unveils New Plan to Drastically Cut Carbon Emissions

Well. World leaders are gathered in Egypt for the major U. N. Climate conference cop. 27 that started on sunday and the U. S. Is top climate diplomat john Kerry unveiling a plan today proposing a new carbon trading scheme that could drastically cut emissions Kerry saying the plan, called the energy transition accelerator is aimed at ramping up funding from wealthy economies to help developing countries cut back on fossil fuels. It would allow countries in the developing world to sell credits whenever they shut down fossil fuel energy sources or accelerate renewable energy construction, potentially raising tens of billions of dollars, chile and Nigeria among the developing countries showing interest, while Bank of America Microsoft and Pepsico have expressed interest in participating in the program.