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As COP27 Begins, U.S. Seeks Billions in Carbon Credits to Wean Developing Countries Off Fossil Fuels

Climate envoy John Kerry to propose program as world leaders gather for climate-change summit in Egypt

In a speech at the COP27 conference in Sharm El Sheikh, Egypt, United Nations Secretary-General António Guterres said that the Earth is nearing tipping points that will make climate chaos irreversible and called for more action. Photo: Sean Gallup/Getty Images

SHARM EL SHEIKH, Egypt—U.S. climate envoy John Kerry is planning to propose a new carbon-credit program that aims to ramp up funding from businesses and governments in wealthy economies to help developing countries cut back on fossil fuels.

Mr. Kerry said in an interview that he plans to make the proposal at the United Nations climate-change conference in Egypt on Wednesday, adding that he was still consulting with representatives of other countries on the size and structure of the program.

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