US Rejoining Paris Agreement

• February 19, 2021: US formally rejoins Paris Climate Agreement after 4-year absence
• Paris Agreement adopted by 195 nations, came into force 2016
• Established targets/mechanisms for zero-emissions future
• US withdrew under previous administration, now returning under Biden-Harris

Current Climate Challenge Assessment

• Current Paris pledges insufficient to keep warming below 2°C or 1.5°C
• Emissions still rising globally
• Need massive acceleration of climate action
• Global emissions breakdown:
  • US: 15% of global emissions
  • China: 30%
  • EU: 11-14%
  • India: 7%
  • Combined top 4 entities: 60%+ of global emissions
• Even if any single major emitter went to zero, still wouldn't solve crisis

Kerry's Approach as Climate Envoy

• Approaching re-entry with humility, not telling others what to do
• Listening to countries that carried load during 4-year US absence
• Acknowledging US maintained some progress during Trump years:
  • 38 states passed renewable portfolio laws
  • 1000+ mayors continued climate action
  • Republican and Democratic governors pushed forward

Key Diplomatic Strategy and Timeline

• April 22 summit bringing together major emitting nations
• Including previously marginalized voices (island states, Bangladesh, poorer nations)
• Building toward Glasgow COP26 through:
  • G7, G20, UN General Assembly meetings
  • Biodiversity convention in China
  • Final 6 weeks push into Glasgow
• Glasgow described as "last, best hope" for setting proper path

Domestic US Climate Action

• All-of-government approach involving:
  • Energy Department
  • Homeland Security
  • Defense Department
  • Treasury (Janet Yellen working on finance mobilization)
• Infrastructure rebuild plans post-COVID legislation
• Grid capacity expansion for electricity transmission
• Regulatory queue of backed-up renewable projects needs clearing

International Outreach Efforts

• Meetings/discussions with India, Latin America, Europe
• Conversations with Australia (previous disagreements)
• Reaching out to Brazil (was problem in Madrid)
• Building new coalitions and approaches
• Working with Xie Zhenhua (China's climate envoy)

Glasgow COP26 Priorities

• Get 17 major emitting nations committed to:
  • 2050 net zero targets
  • Decade-specific roadmaps
  • Accelerated emissions reductions keeping 1.5°C alive
• Real implementation plans, not just promises
• Demonstrate actual pathway to net zero

Technology and Innovation Outlook

• Rapid cost reductions in solar energy
• Advances in battery storage
• Expectation of breakthrough technologies
• Examples of innovation potential:
  • Moon landing analogy - unexpected household products resulted
  • Tesla as most valuable auto company (electric only)
• Faster transitions possible for:
  • Electric vehicles
  • Coal phase-down
  • Renewable deployment

Climate Finance Strategy

• Private sector as critical/key player, not just government funding
• Venture capital investment driving innovation
• Standardizing disclosure requirements (Janet Yellen leading)
• Harmonizing definitions across markets
• Risk assessment incorporating climate crisis costs
• Example: $265 billion spent cleaning up after 3 storms (Maria, Harvey, Irma) vs difficulty raising $100 billion for Green Climate Fund
• Leveraging multiple institutions:
  • IMF discussions
  • World Bank engagement
  • US Finance Development Corporation
• 13-17 trillion dollars in negative interest parking globally (2019-2020)
• Major announcements expected in coming weeks

Environmental Justice Focus

• Central to climate transformation
• Ensuring no communities left behind
• Avoiding concentration of negative impacts in low-income areas
• Learning from 138+ nations with <1% emissions
• Example: Palau President Tommy Remengesau - beyond adaptation, needs relocation planning
• US differential impacts on Black, Brown, Indigenous communities as early warning

US-China Climate Cooperation

• Essential for solving climate crisis (two biggest emitters/economies)
• Concern about continued Chinese coal investment
• Previous constructive relationship with Xie Zhenhua
• Hope for cooperation similar to 2013 Paris build-up period
• Contentious broader US-China relationship complicates climate cooperation

Business and Private Sector Role

• Biggest single players in green transition
• Government tax credits important (solar tax credit example)
• Private sector investment driven by smart investing, not just government cash
• ESG and climate investing showing good returns
• CEO awareness of alternatives increasing
• Tesla example: most valuable auto company, electric-only production

Youth Climate Movement Impact

• Greta Thunberg and Fridays for Future described as "gigantic and spectacular"
• Historical parallel to 1960s youth movements (environment, peace, women's rights, civil rights)
• Adult leadership failure requiring 15-16 year olds to skip school for attention
• Climate became real voting issue in 2020 election
• Need to keep young people engaged through implementation

Just Transition for Workers

• Honest acknowledgment some jobs will change
• Real mechanisms needed to help worker transitions
• Collaboration with AFL-CIO (Richie Trumka) on integration
• Targeting new jobs/companies to coal communities:
  • Southeastern Ohio, Kentucky, West Virginia
• Marketplace (not government) driving away from new coal plants
• Auto industry example: same workers, different technology (batteries vs internal combustion)
• Grid infrastructure build-out creating new employment
• Transmission lines needed across US (currently fragmented: east coast, west coast, Texas, northern regions)

COVID-19 Context and Build Back Better

• Pandemic exposed costs of ignoring systemic risks
• Risk of sleepwalking back to old habits
• Biden's build back proposal directing funds to responsible sectors
• Opportunity for better, more sustainable recovery
• New technologies emerging (negative emissions, CO2 capture in Iceland turning to stone)