Sunday, 30 March 2025

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.

FILE PHOTO: A view of the Amazon rainforest at Yasuni National Park, during a tour led by Indigenous Waorani people in the Pastaza province, in Ecuador, July 29, 2023. REUTERS/Karen Toro/File Photo
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Ecuador’s $1 billion bond buyback to fund Amazon conservation

Ecuador launches $1B bond buyback to fund Amazon conservation, leveraging new 2042 bond at 6.034% yield, IFR reports.

Airplanes on runway
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Fueling net-zero aviation: why SAFs need better policy support to take off

SAF is key to decarbonizing aviation, but major adoption and production challenges threaten net-zero targets: Resources for the Future report.

The island of New Guinea is home to the third-largest expanse of rainforest on the planet and has long been celebrated as one of the 'lungs of the Earth' (AFP)
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Papua New Guinea PM vows to return to UN climate talks

Papua New Guinea's prime minister promised to return to UN climate summits after boycotting this year's talks.

Sheep look for water in a dry pond used by local farms for their livestock, in Contrada Chiapparia, near the town of Caltanissetta, central Sicily, Italy, July 19, 2024. (AP Photo/Andrew Medichini, File)
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Earth’s lands are drying out. Nations are trying to address it in talks this week

The U.N. estimates that between 2007 and 2017, droughts cost $125 billion worldwide.

Presiding Judge Nawaf Salam, fourth from right, opens hearings into what countries worldwide are legally required to do to combat climate change and help vulnerable nations fight its devastating impact, at the World Court in The Hague, Netherlands, Monday, Dec. 2, 2024. (AP Photo/Peter Dejong)
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Closely-watched international climate case in the Hague wraps up its first week of testimony

International climate case at UN court debates obligations to combat climate change, aid vulnerable nations, and cut emissions.

FILE PHOTO: FILE PHOTO: A man walks in a flooded street a day after Hurricane Rafael made landfall in Batabano, Cuba, November 7, 2024. REUTERS/ REUTERS/Norlys Perez/File Photo
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Climate-vulnerable countries push for credit rating overhaul

Ratings given by the "Big Three" agencies consider the risks and potential for economic harm from climate change.

FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File Photo
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World Bank wins pledges for $100 billion replenishment of fund for poorest countries

The World Bank made the announcement on Friday at a pledging conference for the International Development Association.

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Denmark disappointed after offshore wind tender draws no bids

Danish Energy Agency says it will consult with market participants to understand why there were no bids on its offshore wind farm tender.

FILE PHOTO: The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. Picture taken September 16, 2016. REUTERS/Luc Gnago/File Photo
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Italy and African Development Bank sign $420 million co-financing deal

The deal is part of Italy's €6b Mattei plan to boost African development.

A woman uses a donkey cart to transport a barrel of water in drought affected areas in Higlo Kebele, Adadle woreda, Somali region of Ethiopia, in this undated handout photograph. Michael Tewelde/World Food Programme/Handout via REUTERS/ File Photo
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Climate Investment Funds board backs $500 million Ethiopia nature plan

CIF backs a $500M plan to restore degraded land in Ethiopia, protect forests, boost food security, and fight climate change.

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