Climate finance
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.
World Bank’s private sector arm to stop supporting new coal
The International Finance Corporation is closing a loophole that allowed its financial clients to continue funding new coal projects
OECD reforms set to give “green” projects better export finance
OECD countries agree to extend support for ‘climate-friendly’ projects. But vague definitions and inclusion of contested activities worry campaigners.
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.
Carbon discredits – Climate Weekly
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At Luxor talks, splits remain but hopes high for loss and damage fund this year
Negotiators have added an extra meeting to try and get talks finished by Cop28 – but splits over who pays and who receives funds remain
Carbon credit industry resists vulnerable nations’ call to fund adaptation
New carbon credit guidelines do not recommend a mandatory levy to fund adaptation despite calls from vulnerable countries and experts
Consultants close to industry shaped Australia’s controversial carbon credit policy
The government commissioned advice from expensive consultants from EY, a company that had also worked with carbon offsetters and the fossil fuel industry.
Cyclone Freddy prompts pleas for urgency on loss and damage finance
The first talks on how to set up a loss and damage fund were held this week. In the meantime, disaster-torn countries like Malawi appeal for urgent support.
Carbon credit rule-makers must engage Indigenous People
Indigenous people protect the forests but the organisation writing up a rule-book for high-quality carbon offsets has not adequately consulted them
Revealed: How Shell cashed in on dubious carbon offsets from Chinese rice paddies
Shell’s rice farming offset projects are under review. Climate Home found them riddled with accounting loopholes and questionable integrity claims.
I’m a COP veteran. Here are 3 suggestions for the new Loss and Damage fund
Cop27 resulted in the historic decision of setting up a loss and damage fund to help vulnerable countries, but success depends on a few key actions.
Nature’s stewards under attack – Climate Weekly
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Green Climate Fund credibility hangs over response to violence in Nicaragua project
Indigenous people in Nicaragua have accused a Green Climate Fund project of exacerbating violence with settlers invading their land
Loss and damage committee ready to start talks following Asian nominations
Six Asian countries will share two seats on the committee due to start work on establishing a fund for climate victims
IMF approves first batch of climate resilience loans
Five countries had loan packages approved under the IMF’s first sustainability fund, but concerns remain about whether it will boost resilience for the most vulnerable nations
Mafalda Duarte named as next chief of UN climate fund
The CEO of the Climate Investment Funds has been picked to head the Green Climate Fund as its board faces its first complaint case
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
Vulnerable nations set up alliance to prepare loss and damage action plans
Researchers are working with eight developing countries to pool resources and respond to climate disasters with local solutions
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