Climate finance
Blended finance can perpetuate climate colonialism
‘Blended finance’ took centre stage at Cop28, with the Green Climate Fund among its supporters. But there are still major problems with the concept that must be addressed before considering any further expansion.
For Cop29 to succeed, rich nations must get their parliaments to agree more finance now
Rich nations always say they need their parliaments approval for climate finance at Cops – now is the time to start
Junk offset sellers push to enter new UN carbon market
Renewable energy schemes make up four-fifths of Kyoto-era projects hoping to keep selling offsets under Article 6, sparking concerns over the credibility of the new market.
Six takeaways from 2023’s climate change news
Fossil fuel fights, finance struggles, a resurgent relationship, and much more. We recap the most impactful international climate developments in 2023.
Green Climate Fund ambition at risk after ‘disappointing’ pledges
The UN’s flagship climate finance initiative can barely sustain its existing portfolio after a lackluster fundraising conference on Thursday
African leaders skirt over fossil fuels in climate summit declaration
A joint statement forming the basis of Africa’s negotiating position for Cop28 is silent on the role of oil and gas
Germany plans to keep funding new gas projects overseas despite pledge
Draft guidelines for its export credit agency signal support for some gas projects until 2025 – three years after the deadline set by the Glasgow pledge
Developing nations decry risk of UK breaking climate finance pledge
The UK promised to deliver £11.6 billion in international climate finance by 2026. But a leaked memo suggests the target is being dropped.
Senegal shows African countries are not passive beneficiaries of climate finance
While drawing up their renewables deal with wealthy countries, Senegalese government, civil society, business and researchers had their say
Public banks agree to check investments against countries’ climate plans
Ten multilateral development banks have agreed on how to make sure their investments meet climate goals. But experts told Climate Home the rules do not go far enough.
Multilateral banks’ investments in industrial livestock undermine their Paris climate commitments
Public money should stop flowing towards the expansion of animal agriculture, which is responsible for a fifth of the world’s emissions
Cop28 boss slams rich nations “dismal” $100bn finance failure
Developed nations should have met the climate finance commitment in 2020. But they are still not there.
UN’s Green Climate Fund too scared of risk, finds official review
The UN’s flagship climate fund is struggling to clearly manage risks in its projects, an independent review has found, making it wary of taking on high-impact projects in developing countries
World Bank steering committee and US urge for reforms on climate lending
At the World Bank’s spring meeting, US Treasury Secretary Janet Yellen called for the adoption of a reform that would free up funds for climate lending.
Uncertainty on renewable retraining frightens South Africa’s coal communities
An investigation by Oxpeckers and Climate Home found coal-reliant communities in South Africa have scarce details on how funds for reskilling workers from its $8.5 billion deal will be implemented.
Nature’s stewards under attack – Climate Weekly
Sign up to get our weekly newsletter straight to your inbox, plus breaking news, investigations and extra bulletins from key events
Vietnam’s energy transition deal is a ‘black box’, partner warns
A Vietnam government partner suggested that even Hanoi is unaware of the details of the energy transition package
World Bank backs mega dam threatening to displace thousands in Mozambique
The World Bank argues the project will accelerate the energy transition in southern Africa, but people facing displacement say their voices are not being heard
Canada sets out green investments guide amid complaints of industry capture
The process to create Canada’s first guide for green investiments has been accused of being undemocratic and extending the life of polluting fuels.
India set to push for green World Bank reforms at G20
India wants the World Bank to lend more money for climate finance, at cheaper rates, in developing countries and will use its G20 chair to push this agenda