United States to Assist LAC Increase Renewable Energy Capacity
BUENOS AIRES, Argentina – The United States Wednesday announced that it would provide assistance to Latin America and the Caribbean so as to increase significantly renewable energy capacity across the region by 2030.
US Special Presidential Envoy for Climate, John Kerry (Mark Makela/Getty Images)The first ever United States Special Presidential Envoy for Climate, John Kerry, told a virtual High-Level Dialogue on Climate Action in the Americas that Washington is hoping that through several initiatives, like lowering emissions, by accelerating forest financing, relief programs, it will also increase renewable energy capacity.
“We are mobilizing public financing in order to try and reduce emissions from cars and restore those eco-systems,” Kerry said.
He said that Washington has been working with the six major banks in the United States “and they have now stated publicly…of what they are willing to invest through the course of the next 10 years in order to accelerate this transition”.
The conference is being hosted by the government of Argentina, and brings together countries in the Americas to discuss shared commitment to enhancing climate ambition.
The dialogue will build further momentum for climate action ahead of the 26th UN Climate Change Conference (COP26), which will be held October 31 to November 12, 2021, in Glasgow, Scotland.
The virtual conference is being co-organized by the governments of Argentina, Barbados, Chile, Colombia, Costa Rica, the Dominican Republic, and Panama, and will include interventions from governments, the private and financial sectors, development banks, academia, and civil society organizations.
The dialogue will include panel discussions on topics including enhancing climate ambition on the road to Glasgow, accelerating climate action through regional cooperation, and strengthening adaptation and resilience to the impacts of climate change.
Kerry told the conference that the total amount of money from the six banks over the next 10 years “as a floor is US$4.16 trillion and that’s before you get to asset managers, private investors and philanthropists.
“So I think we have the ability to pit finance on the table, what we need are the political decisions in order to make this happen.
‘We are partnering with Caribbean islands in their efforts to enhance resilience and the local 20/30 islands network is going to build an island to island network of adaptation projects and experts and practitioners.”
He said Washington would also be working through the US-Caribbean Resilience Partnership to share US government expertise, scientific knowledge and resources to strengthen disaster preparedness and to enhance climate adaptation and resilience throughout the region.
“We are also partnering with the Caribbean islands to enhance resilience and the local 20/30 islands network is going to build a network throughout the Caribbean to enhance this. I think today we have a great opportunity to share with each other our thoughts about how we can implement together , how we can create a hemispheric powerhouse of innovation and implementation”.
