Kerry calls for climate action from private sector

US Secretary of State John Kerry on Tuesday called on businesses to drop fossil fuels to combat climate change and boost global economic growth.

Mr Kerry addressed the Bloomberg New Energy Finance Summit in New York as the Obama administration continues its efforts to reduce carbon emissions and promote clean energy development.

In a speech at the BNEF summit, Mr Kerry said: “If we’re going to stave off the worst impacts of climate change, we have to accelerate this transition… When we talk about the future of energy, we are actually talking about the future of everything.”

President Obama and Chinese President Xi Jinping confirmed on Thursday that their governments will sign the Paris Agreement to limit emissions and prevent dangerous global at the official signing ceremony in New York on 22 April.

The White House also issued a new report on Monday showing that climate change could damage public health in the US.

Kerry emphasised that government regulation cannot solve climate change on its own and focused on engaging business leaders as well as politicians.

The US Secretary of State added: “Government can provide the structure, the incentives, the framework, but… it’s the private sector that will ultimately take us to the finish line… Clean energy is one of the greatest economic opportunities the world has ever seen.”

The private sector has demonstrated an increased willingness to address climate change in recent years as clean technologies have become more cost-efficient.

Mr Kerry noted that only 13 business representatives attended the first United Nations talks on climate change in 1992 compared with 1,000 at the COP21 summit in Paris in December.

Kerry added: “Every person on the planet has an interest in making sure that transition happens as soon as possible… We have the opportunity to transform the way people live and safeguard the future for generations to come.”