Former US Secretary of State John Kerry (C) speaks as Larry Coben (L), chair and CEO of NRG Energy, and Semafor Climate and Energy Editor Tim McDonnell look on during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Former US Secretary of State John Kerry (C) speaks as Larry Coben (L), chair and CEO of NRG Energy, and Semafor Climate and Energy Editor Tim McDonnell look on during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Former US Secretary of State John Kerry (C) speaks as Larry Coben (L), chair and CEO of NRG Energy, and Semafor Climate and Energy Editor Tim McDonnell look on during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Former US Secretary of State John Kerry speaks during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Former US Secretary of State John Kerry speaks during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, speaks during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, speaks during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, speaks during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)