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.
What does that mean? A guide to COP29 climate jargon
With U.N. climate talks tackling complex topics from energy policy to global financial aid, the annual summit has developed its own lexicon.
UN climate talks to focus on money to help poor nations cut carbon pollution
Curbing climate change's impact will cost trillions, but poor nations lack the funds, sparking debate at UN talks.
ADB increases climate finance after US, Japan give world’s first sovereign guarantees
The Asian Development Bank to boost climate lending by $7.2B as the U.S. and Japan back loans with world first sovereign guarantees.
COP29 primer: Canada’s priorities at the global climate talks, and the Trump impact
Canada could play a key role in climate talks this year, says Minister Steven Guilbeault, despite Trump's win.
Multilateral banks are key to financing the fight against global warming. Here is how they work
Multilateral banks play a crucial role in climate finance, but trillions are needed for developing countries' energy transition.
Taliban administration officials to attend UN climate conference in Azerbaijan
Taliban officials to attend COP29 in Azerbaijan as observers, marking a rare high-profile U.N. event since 2021.
Azerbaijan is the host of the UN’s climate conference, shining a spotlight on the petrostate
Countries will gather in Azerbaijan for COP29 — a place that was one of the birthplaces of the oil industry.
Explainer: What is the point of a UN climate COP?
Next week, COP29 gathers thousands in Baku for the U.N. climate summit to address global climate challenges. Here’s why it matters.
Explainer: Who are the key voices at the COP29 climate summit in Baku?
Nearly 200 countries meet at COP29 in Baku, Azerbaijan, to negotiate climate action with major blocs and leaders.
Biden’s Amazon visit comes as US climate policy to shift under Trump
Biden will become the first U.S. president to visit the Brazilian Amazon, meeting with leaders to discuss its preservation.
