Climate finance
Dreaming big on climate action means finding the money to pay for it
The Paris summit failed to unlock real money for climate finance, potentially driving developing countries further into debt without boosting real climate solutions
Scrooges block progress in Bonn – Climate Weekly
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Confusion surrounds China’s pledged climate finance towards the Global South
China is not obligated to provide financial aid but has pledged to “make available’ $3.1bn to other developing countries
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.
US pledges $1 billion to Green Climate Fund amid call to keep 1.5C in reach
Joe Biden urged leaders of major emitting economies to step up efforts to roll out zero-emission vehicles, cut methane emissions and deploy carbon capture technologies
Saudi Arabia, Russia push for more World Bank money into carbon capture
At a meeting discussing the World Bank’s stronger focus on climate, Russia has also urged the lender to extend its support for gas projects.
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.
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.
IPCC highlights rich nations’ failure to help developing world adapt to climate change
Scientists say funding needs to increase ‘many-fold’ in order to reach climate goals and protect communities disproportionately affected by global warming
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
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
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
World Bank chief to step down early after climate controversy
Last year, the World Bank’s president David Malpass refused to accept the scientific consensus on global warming, leading to calls for the US government to push him out
After finally passing a climate bill, US calls on others to act
Climate negotiators expressed relief as the US secured congressional support for climate spending, but said developing countries need direct support to follow
Colombia’s new president calls for debt swap to protect the Amazon
“We can turn the entire population of the Colombian Amazon into a population that cares for the forest, but we need the world’s funds to do it,” says Gustavo Petro
Rich countries fall $17bn short of 2020 climate finance goal
2020 was the deadline for delivering the $100bn climate finance promise
Brussels sets out new green aid rules, with ‘pragmatic exceptions’ for gas
The new guidelines include a special clause for natural gas, allowing member states with the lowest GDP to transition from coal to gas
Poor nations call for more financial support to cope with climate impacts
At a summit of least developed countries, leaders said they needed aid to overcome climate disasters and put ambitious climate plans into action
Oxfam: Rich countries are not delivering on $100bn climate finance promise
Nearly 80% of climate finance is in the form of loans that must be repaid, adding to the debt burden of the poorest countries, anti-poverty campaigners found
COP22: UN reports increase in climate aid flows
Report launched at Marrakech summit highlights modest progress in climate spending, but gaps remain