The countries were clear that COP26 needs to deliver actions, not just words. Many highlighted the importance of ending coal power, coal financing and fossil fuel subsidies. Climate ministers have taken a step forward towards a successful UN climate summit named COP26, as a constructive meeting in London concluded with countries, including India, coming closer […]
MDBs Climate Finance Hit $66 Billion in 2020, Joint Report Shows
MANILA, PHILIPPINES : Climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, according to the 2020 Joint Report on Multilateral Development Banks’ Climate Finance, published today. Of this, 58%—or $38 billion—was committed to low- and middle-income economies. The total climate cofinance […]
STATEMENT: G7 Leaders Agree to Enhance Climate Action But Leave Developing Countries Without Adequate Climate Finance
WASHINGTON : G7 leaders met in the U.K. over the weekend, where they discussed a broad agenda including next steps for climate action. Together, they agreed to reach net zero emissions no later than 2050 and to halve their collective emissions by 2030. These and other commitments were noted in a new Communique. There were […]
Climate Finance as a Way to Create Energy Access in Africa
Stories about climate finance are starting to flood the internet in the build-up to COP26 at the end of the year, but the conversations vary, depending on your geographic location. While financiers, power developers, utilities and everyone involved in producing energy can agree that financing to address climate issues is needed, the exact parameters vary. […]
4 Climate Finance Priorities for the Biden Administration
Providing funding to poorer nations to undertake climate action is not only a moral and legal responsibility for developed countries, but also a strategic investment in a cleaner and more resilient world. Such support pays dividends by reducing the severity and costs of climate impacts, including extreme weather, ecosystem loss and political instability both at […]
Outcome of COP25 balanced, with the exception of Climate Finance issues: Shri Prakash Javadekar
The 25th Session of the Conference of the Parties (COP 25) to the United Nations Framework Convention on Climate Change (UNFCCC) was held under the Presidency of Chile in Madrid, Spain on 02nd – 15th December 2018. The conference, which was expected to conclude on 13th December, was extended till 15th December 2019 to […]
Macquarie Announces Commitments to Mobilise Climate Finance
Macquarie joins leading financial services firms and governments at the UN Climate Action Summit to launch new climate finance reports and commitments Macquarie plans to develop a 20 GW pipeline of renewable energy projects, including 4 GW in emerging markets Final close approaching on a $A1 billion agriculture fund targeting improvements in on-farm energy efficiency […]
Developed Countries Need to Do More for Climate Finance: Economic Survey
Under the Paris Agreement, developed countries had agreed to provide financial support to developing countries to deal with the impacts of climate change and take measures to limit emissions. New Delhi: The Economic Survey of 2018-19 released on Thursday has criticised industrialised nations for not providing financial support to developing countries for climate change adaptation […]
Thailand in need of ‘Energy 4.0’
The transformative potential enabled by the intersection of clean energy technologies and the interconnected digital economy offers an ideal platform for powering “Thailand 4.0.” Adopted by the Thai government in 2016, “Thailand 4.0” is a model for growth that aims to transition Thailand into a high-income country through an economy centered around knowledge, innovation, and […]
