Raskin invited to join Senior Consultative Group for the Energy Transition Accelerator
Raskin, a leading voice on financing the clean energy transition, joins a group that will catalyze private capital to fund high-integrity carbon credits and incentivize sectoral transformation.
Sarah Bloom Raskin
Sarah Bloom Raskin has been invited to become a member of the Senior Consultative Group for the Energy Transition Accelerator, an initiative of the U.S. Department of State, Bezos Earth Fund, and The Rockefeller Foundation that is aiming to accelerate the just clean energy transition by mobilizing private capital to pay for carbon credits.
The consultative group, chaired by John Kerry, the inaugural U.S. Special Presidential Envoy for Climate and former Secretary of State, brings together independent experts with a range of experience and knowledge in areas including carbon markets, energy transition, equity, and diplomacy.
Raskin, the Colin W. Brown Distinguished Professor of the Practice of Law and Senior Fellow at the Duke Center on Risk, is a leading voice on the transition to a less carbon-intensive economy and stabilizing the financial sector in the face of increasing risk to assets from climate change.
Prior to joining Duke Law in 2021, Raskin served as Deputy Treasury Secretary and was a governor of the Federal Reserve Board and a member of the Federal Open Market Committee, where she helped conduct the nation’s monetary policy and promote financial stability. Raskin is the only law professor in the group.
The Energy Transition Accelerator (ETA), announced by the partners at the United Nations Climate Change Conference (COP 27) in November 2022, strives to curb global warming by catalyzing private investment and "forming a coalition of companies and institutions committed to paying for verified power sector emission reductions through high-integrity carbon credits," according to its website. Its core framework was presented the following year at COP 28.
The approach will directly compensate developing countries for verified emissions reductions. Pilot countries joining the ETA include Chile, the Dominican Republic, and Nigeria. Participating corporations include Amazon, Bank of America, Boston Consulting Group, Mastercard, McDonald’s, Morgan Stanley, PepsiCo, Salesforce, Schneider Electric, and Standard Chartered Bank.
In addition to Kerry and Raskin, the other members of the Senior Consultative Group are:
- Fatih Birol, Executive Director, International Energy Agency
- Arunabha Ghosh, Founder-CEO, Council on Energy, Environment and Water
- Rachel Kyte, Co-Chair, Voluntary Carbon Markets Integrity Initiative
- Annette Nazareth, Chair, Integrity Council for the Voluntary Carbon Market
- Mary Nichols, Vice Chair, California-China Climate Institute
- Damilola Ogunbiyi, Special Representative of the UN Secretary-General, and Chief Executive Officer for Sustainable Energy for All
- Vera Songwe, Co-Chair, High Level Expert Group on Climate Finance