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.
No home left behind: a postcode approach to electrification
A community-driven pilot project in Australia promises to show how household electrification can be accelerated and co-ordinated at scale.
Government advisers call for 81% cut in UK emissions by 2035
The British government is preparing to unveil plans for cutting emissions by 2035 under the global Paris Agreement.
World Bank gears up to launch debut debt-for-development swap, treasurer says
Debt swaps have grown in popularity, especially where funds saved are used for environmental projects, so-called debt-for-nature swaps.
Trump hates Biden’s climate law. His allies are making money from it
Donald Trump promises to cut Biden's climate subsidies if elected. Yet many of his allies benefit from them through clean energy investments.
After sundown: India must ramp up wind energy capacity to meet electricity demand
Ember: Wind energy can play a critical role in India's energy transition, particularly for its complementary role with solar power after sunset.
World on track for ‘catastrophic’ 3.1C of global warming this century, UN warns
The world is on track for a “catastrophic” 3.1C of global warming, the UN warns calling for efforts to cut emissions driving climate...
Clean energy adoption in Global South overtakes North on path to growth
The Global South is adopting renewable energy technologies at a faster rate than the Global North: Rocky Mountain Institute (RMI)
As coal plants shut in Romania, some miners transition to green energy while others are reluctant
Romania's coal workers resist retraining for green jobs despite industry decline, fearing change amid political inaction.
Pakistani venture Sarmayacar says Green Climate Fund pledges $15 million
Sarmayacar secures $15M from Green Climate Fund to back startups addressing climate challenges amid funding drop.
Finance guide could spur extra $200 billion for sustainable development, JPMorgan says
A JPMorgan executive says a new finance guide could unlock an extra $200B annually for projects with positive social or environmental impact.
