Spotlight: Climate Finance
Climate finance refers to dedicating public and/or private financial resources to support climate change mitigation (which aims to reduce global greenhouse gas emissions), or adaptation (which helps build resiliency in the face of climate change). Climate finance can come from public sources, such as government or national and multilateral development banks, or from a growing array of private institutional investors and public-private institutions. Internationally, climate finance is one way to recognize that less-developed countries are often more vulnerable to climate change for which they are relatively less responsible and yet have fewer resources to address. Climate finance also refers to funding mechanisms to support the energy transition to net-zero emissions, such as clean technology development and related infrastructure. The 2015 Paris Agreement calls for developed country governments to commit to increasing climate finance commitments (currently USD $100 billion/year) at specified intervals, such as this year. Therefore, negotiating a “New Collective Quantified Goal” on Climate Finance is a major focus of the 2024 UN climate conference (COP29) in Azerbaijan.
Calculating clean energy household savings for Canadians and how government incentives could help
Canadian households could cut costs and carbon emissions with clean energy solutions, but government incentives are crucial to widespread adoption.
Nations to submit boosted climate plans at COP29: what’s at stake?
With COP29 underway, major emitters face pressure to enhance climate goals for the 1.5°C target, but most remain uncommitted.
UK says £58bn climate finance tool to launch on London Stock Exchange
A $75B scheme to fund clean energy projects in poorer countries will launch on the London Stock Exchange.
At COP29, development lenders set $120 billion climate finance goal for poorer countries
Global banks pledge $120B yearly climate aid by 2030, targeting low-income nations, boosting private sector investment.
For nearly a decade, climate talks have been hashing out so-called Article 6. But what is it?
At COP29, leaders finalize Article 6 for carbon trading, stirring debate over its impact on emissions and human rights.
COP29: Host nation Azerbaijan hits out at West in defence of oil and gas industry
At COP29, UN's Guterres urged world leaders to boost climate finance, warning, “Pay up, or humanity will pay the price.”
Singapore commits up to $500 million funding to support decarbonisation in Asia
Singapore has committed the funding to support the local central bank's initiative to help fund Asia-focused climate projects.
Companies are buying up cheap carbon offsets — data suggest it may be more about greenwashing than helping the climate
Carbon offsets are booming, but low-quality, unregulated options raise doubts about their effectiveness in cutting emissions.
Starmer ‘very clear’ on climate change but avoids responding to Trump doubts
The UK will on Tuesday set out a new target to reduce fossil fuel emissions but will not make any new financial commitments...
Nations approve new UN rules on carbon markets at COP29
COP29 approved UN standards for carbon markets, a pivotal step toward enabling countries to trade credits to meet climate goals.
