John Kerry Says, Money Is Of Utmost Importance To Tackle Climate Change

The world will eventually move to a low-carbon economy, but it may be too late to avoid the worst effects of climate change, according to John Kerry.

The World Economic Forum (WEF) meeting is ongoing in Davos, Switzerland. Speaking at the WEF, the USA presidential representative for climate John Kerry issued an unequivocal warning about Climate Change for the years ahead.

John Kerry said, “I’m convinced we will get to a low-carbon, no-carbon economy — we’re going to get there because we have to. I am not convinced we’re going to get there in time to do what the scientists said, which is avoid the worst consequences of the crisis. And those worst consequences are going to affect millions of people all around the world, Africa and other places. Of the 20 most affected countries in the world from climate crisis, 17 are in Africa.”

Kerry in his remarks also talked about the goal of limiting global temperature rise to 1.5 degrees Celsius in comparison to pre-industrial levels. This goal is mentioned in the 2015’s Paris Agreement which targets to keep temperature increase well-below 2 degrees Celsius and preferably within 1.5 degrees Celsius.

On how to get there, Kerry said, “Well, the lesson I’ve learned in the last years and I learned it as secretary of State and I’ve learned it since, reinforced in spades, is: money, money, money, money, money, money, money. And I’m sorry to say that.”

To meet the preferential target of 1.5 degrees Celsius, cutting the carbon dioxide emissions to net-zero by 2050 is absolutely crucial.

Kerry said, “Over the past few years, many multinational corporations have announced net-zero pledges. Actually achieving them is a huge task with significant financial and logistical hurdles.”

Kerry added, “Let’s face it, [a] whole bunch of companies in the world have chosen to say, ‘I’m going to be net zero by 2050. And you and I, we know they don’t have a clue how they’re going to get there. And most of them are not on track to get there.”