Monday, 20 January 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.

Bleached and dead coral around Lizard Island on the Great Barrier Reef, in April 2024 (AFP)
BiodiversityClimateClimate FinanceNewsPoliticsUnited Nations

COP16 biodiversity talks to restart in February: UN

The last biodiversity meeting ended in November with no agreement on a roadmap to ramp up funding for species protection.

City Hall in San Antonio, Texas.
AnalysisBuildingsClimate FinanceElectric Vehicles (EVs)EmissionsPoliticsPublic TransitReportsUnited Nations

Most greenhouse gas emissions come from cities. Why not involve them in NDCs?

Collaboration between national and subnational governments — cities, states, and regions — can strengthen NDCs under the Paris Agreement.

Ed Miliband and Sir Keir Starmer committed to cutting UK greenhouse gas emissions by 81% by 2035 (Rebecca Speare-Cole/PA)
ClimateClimate FinanceEconomyElectric Vehicles (EVs)EmissionsEnvironmentNewsPolitics

Miliband warns of ‘extreme’ climate change impacts in UK while defending COP29

Energy Secretary Ed Miliband warns climate change impacts in Britain will worsen without action, defending government emission targets.

COP29 President Mukhtar Babayev is seated, delivering a speech, with two attendants visible behind him.
Climate FinanceEmissionsEnvironmentNatural GasNewsOilUnited Nations

COP29 president blames rich countries for ‘imperfect’ deal

The contentious deal on Sunday saw wealthy polluters pledge $300B annually to support developing countries.

AnalysisClimate FinanceCritical MineralsElectric Vehicles (EVs)ElectricityEmissionsManufacturingRegulationsReportsTransport

More chargers, less red tape: How to speed up electrifying Ontario’s MHDVs

Ontario must address high costs, regulatory hurdles and grid readiness to build chargers needed for electrifying road-freight vehicles.

A silhouette of the skyline is pictured at sunset in Quezon City, Metro Manila, Philippines.
AgricultureClimate FinanceEmissionsEnvironmentNews

ADB approves $500 million loan for Philippines’ climate change efforts

The loan will boost reforms in Southeast Asia, driving agriculture, energy, and transport toward a low-carbon future.

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