Climate finance
The Global South is surging ahead in the renewables revolution
Many developing countries are rich in renewable resources and growing them fast – with more investment, they can tip the balance towards green industrialisation
To capture renewable energy gains, Africa must invest in battery storage
With rich raw materials and rising interest in manufacturing capacity, the continent can become a global leader in the battery storage value chain – but it needs international capital
UN approves carbon market safeguards to protect environment and human rights
Developers of carbon credit projects will have to carry out a risk assessment and minimise any social or environmental impacts
How the world can set itself up for success at COP29
A new climate finance goal is the top priority for the Baku summit – and there are signs of convergence on critical issues
Progress on structure for new global climate finance goal but trickier divides persist
Negotiators cite “convergence” on the shape of the post-2025 finance goal but gaps remain on contributors and amounts
Japan backs fossil fuels in Southeast Asian “zero emission” initiative
Japan’s Asia Zero Emission Community (AZEC) supported 56 projects using fossil fuel technologies in Southeast Asia — including LNG and carbon capture
Guyana’s carbon-credit deal to protect forests undermines its forest protectors
Guyana’s Indigenous communities are under siege from all sides – including an opaque carbon-offsetting scheme agreed by the government on our lands
Colombia adds nature to the mix with its $40-billion energy transition plan
The investment plan mirrors the model of Just Energy Transition Partnerships (JETPs) – and includes $8.5 billion to conserve and restore nature
Amazon state that will host COP30 strikes “largest carbon credit sale in history”
A coalition of governments and multinational corporations promises to pay Pará state $180m to save its rainforest
UN climate chief warns of “two-speed” global energy transition
Simon Stiell tells investors in NYC that rich countries are benefiting most from clean energy growth while poorer nations are deprived of finance for cheaper renewables
Senegalese banker Ibrahima Cheikh Diong picked to lead new loss and damage fund
Diong has experience in development banking, government and insurance against climate disasters in Africa
Biodiversity finance grew ahead of COP16 but came mostly as loans, says OECD
Funding for efforts to protect and restore nature increased to $15.4 billion in 2022 – mostly driven by concessional loans from multilateral banks
UK calls for “ambition” on COP29 climate finance goal but won’t talk numbers
The UK’s new foreign minister, David Lammy, says Global North rhetoric on climate action must be matched by funding but stays silent on the size of a new global finance goal
Developing countries denounce rich nations’ disregard for just transition talks
One negotiator said it was “very unfortunate” that no developed-country officials travelled to Ghana for UN climate talks on “response measures”
Slow progress in Baku risks derailing talks on new climate finance goal at COP29
Azerbaijan’s COP29 president calls for determination and leadership from all countries to bridge the gaps on finance
Green Climate Fund restructures, aiming to become donors’ “partner of choice”
GCF chief Mafalda Duarte tells Climate Home how she plans to boost the fund’s impact and position it to secure more resources
UN climate chief calls for “exponential changes” to boost investment in Africa
Action on clean energy and adaptation can be the single greatest opportunity to lift up African people and economies, Simon Stiell says
As Pacific Islanders, we need climate action – not greenwashing – from Azerbaijan
As host of the COP29 summit, Baku must stop fossil fuel expansion, cut its emissions further, and work to deliver an ambitious climate finance goal
Verra axing of Shell’s rice-farming carbon credits in China fuels integrity fears
The carbon market standard found “serious” quality issues with the projects, prompting questions about their initial approval
Leaders are cutting fossil fuel finance – next comes unlocking clean energy for all
While international public finance for coal, oil and gas has fallen by two-thirds, little of that money has gone to boost green energy in poorer countries