In Short : At COP29, India plans to prioritize climate finance and the protection of vulnerable communities from climate impacts. India aims to push for increased financial support from developed nations to help developing countries mitigate and adapt to climate change. The country will also advocate for measures to safeguard marginalized communities facing the brunt […]
Climate finance, international support key to India’s energy transition: report – EQ
In Short : A recent report emphasizes that climate finance and international support are crucial for India’s successful energy transition. While the country is making significant strides in renewable energy, scaling up efforts to meet its climate goals requires substantial financial investment and global cooperation. Key areas include funding for clean energy projects, technology transfer, […]
Climate Finance by Multilateral Development Banks Hits Record in 2023 – EQ
In Short : Multilateral Development Banks (MDBs) hit a record $125 billion in climate finance in 2023, a significant rise from 2022. Of this, $74.7 billion was allocated to low- and middle-income economies for climate mitigation and adaptation efforts. The increase comes as global focus sharpens on climate finance ahead of COP29. In Detail : […]
Rich nations should provide climate finance to developing countries: Bhupender Yadav
New Delhi : Developed countries historically responsible for maximum carbon emissions should come forward and own the responsibility of providing finance to developing countries to address the climate crisis, Union Environment Minister Bhupender Yadav said on Friday. Climate finance will be at the centre of the UN climate conference in Baku, Azerbaijan, where the world […]
Rich nations should provide climate finance to developing countries: Bhupender Yadav – EQ
In Short : Bhupender Yadav emphasized that wealthy nations must provide climate finance to developing countries. This support is crucial for addressing climate challenges and achieving global environmental goals, ensuring equitable progress in mitigating climate change impacts. In Detail : New Delhi : Developed countries historically responsible for maximum carbon emissions should come forward and […]
Developing nations need $ 6 trillion by 2030 in climate finance: COP29 president designate – EQ
In Short : The COP29 president designate suggests that developing nations require $6 trillion by 2030 in climate finance. This emphasizes the substantial funding needed to support these nations in their efforts to mitigate and adapt to climate change, meeting their climate goals and fostering sustainable development. In Detail : New Delhi : The president […]
ADB Commits Record Climate Finance of Almost $10 Billion in 2023 – EQ
MANILA, PHILIPPINES : The Asian Development Bank (ADB) committed a record amount of climate finance in 2023 to help its developing member countries (DMCs) in Asia and the Pacific cut greenhouse gas emissions and adapt to the impacts of a warming planet. ADB committed $9.8 billion in climate finance from its own resources last year—$5.5 […]
Climate finance tops $1 trillion in 2021, still far from 2030 target: Study – EQ
In Short : A recent study revealed that global climate finance reached a significant milestone, surpassing $1 trillion in 2021. However, the report indicated that despite this achievement, the amount falls short of the target set for 2030 to address climate-related challenges effectively. Efforts to mobilize financial resources to combat climate change remain critical, with […]
Six Funding Innovations to Boost Climate Finance – EQ Mag
Devastating floods, deadly heatwaves, and intense droughts in Asia and the Pacific over the past year confirm what scientists have been warning for years: the impacts of climate change are here and they’re getting worse. The world must urgently step up investments to help stabilize the climate and protect people and infrastructure from the worst […]
Trillions of dollars needed to adapt green technologies: Experts at WEF – EQ Mag
To reach the 2050 emissions reduction target, trillions of dollars in public and private capital are needed to adopt and scale green energy technologies, financial experts told participants in a session on climate finance at the 53rd World Economic Forum annual meeting. told. Despite the urgent need for climate finance, several barriers have hindered the […]