Climate finance
As Cop27 kicks off, where are the coal to clean deals at?
Rich countries have been discussing “just energy transition partnerships” with South Africa, Indonesia, Vietnam, India and Senegal
South Africa pitches $84bn plan to shift from coal to clean energy
President Cyril Ramaphosa set out a 200-page investment plan ahead of Cop27 climate talks, urging partners to finance his vision
John Kerry: Carbon offsets can help wean developing countries off coal
The US special envoy wants the voluntary carbon market to finance energy transitions in emerging economies – but partner countries aren’t keen
Rich nations deflect GCF climate finance burden to private sector
The US wants to open the door for philanthropists and businesses to contribute to the Green Climate Fund, despite fund staff’s doubts
Climate finance isn’t reaching African communities – Cop27 must fix this injustice
Indigenous peoples and local communities receive less than 1% of all climate funding despite scoring wins for people and nature
Climate fund approves plan to speed up coal retirement in Indonesia
The Climate Investment Funds aims to mobilise $4 billion from public and private sources to start decarbonising Indonesia’s power sector
Breakdown: Who is contributing what to South Africa’s clean energy shift
A leaked summary shows Germany and France are providing cheap loans while the UK is making the biggest contribution to mobilise private finance
South Africa approves $8.5bn energy transition investment plan
Insiders say less than 3% of the money rich countries promised is earmarked as grants, raising concerns about fairness and South Africa’s debt burden
Small island states to propose ‘response fund’ for climate victims at Cop27
As rich countries resist creating a ‘funding facility’ to address damages caused by climate change, island states are refining their demands
Financial system shake-up – Climate Weekly
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US, Germany back ‘fundamental reform’ of World Bank to scale climate finance
A group of 10 countries led by the US and Germany have presented the bank’s management with a plan to reform the institution this week
Funds for Pakistan flood relief come too little, too late
Nearly two months on from devastating floods, only $51 million of aid has been delivered, forcing humanitarian groups to make tough decisions
EU outlines funding options to help climate victims recover
At pre-Cop talks in Kinshasa, Frans Timmermans called for ways to address losses and damages caused by climate impacts to be on the agenda at Cop27
EU ministers back €20 billion plan to ditch Russian fossil fuels
Finance ministers agreed to raise funds from the bloc’s carbon market but lawmakers are concerned it could compromise other green measures
Hurricane Ian could cost US $67bn in economic damages
The Category 4 hurricane, one of the most powerful to ever make landfall in the US, has destroyed homes, infrastructure and citrus farms
Corporate pushback against climate action is getting desperate
Our UN-backed initiative was told we could be sued for saying new coal isn’t compatible with science-based targets. We need regulatory reform
Compact for the climate frontlines – Climate Weekly
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Mia Mottley builds global coalition to make financial system fit for climate action
In July, Barbados’ prime minister invited leaders to a retreat to discuss plans to scale-up international finance for the climate frontlines. Now, she’s asking the world for support
When the EU and US score climate points off China, Africa suffers
Frans Timmermans and John Kerry are downplaying historic responsibility for the climate crisis. That’s a red flag for Africa
UN chief: Windfall tax on oil and gas can pay for loss and damage
António Guterres told rich countries taxing fossil fuel companies’ record profits can fund vulnerable nations’ recovery from climate disasters