In a Shift, U.S. Says Companies Are Pivotal to Climate Talks’ Success
The private sector is being pressured to play leading role in climate action
With war, inflation and electoral chaos preoccupying world leaders, the Biden administration is looking for corporations to take center stage as the U.N. Climate Change Conference gets underway in Sharm el-Sheikh, Egypt.
At the summit, known as COP27, the administration and its partners will unveil a plan for private companies to finance the energy transition of developing countries, according to U.S. officials who spoke on the condition of anonymity because of the sensitivity of discussions.
While government action typically dominates these talks, political paralysis and public pressure are pushing companies to step up with their own emission pledges — and money to help poorer countries bearing the brunt of climate change’s impacts.
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