Climate finance
Colombia gets $70m from new global renewable integration fund
Colombia will get the first pay-out of a $300m Climate Investment Funds pot for transmission lines, batteries, EV chargers and green hydrogen
Africa objects to US chairing UN climate fund, citing unpaid $2bn
The Green Climate Fund is making cutbacks to its project portfolio, while the US fails to deliver on a years-old funding pledge
World Bank adaptation funds slept through Pakistan’s record flooding
A $100 million project was meant to protect Karachi slumdwellers from flooding, but instead made many homeless before work stalled
World Bank moots stronger strategic focus on climate action
A draft document suggests the bank will broaden its “twin goals” of boosting prosperity and ending extreme poverty to encompass climate action
‘Kunming-Montreal’ deal sets up new fund for biodiversity by 2023
Countries committed to mobilise $200 billion “from all sources” to protect 30% of the world’s land and water ecosystems by 2030
The sweet life goes sour – Climate Weekly
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After developing country walkout, ministers arrive to rescue nature talks
Tensions are running high at the Cop15 biodiversity summit over a finance gap estimated at $700 billion per year
Rich nations mobilise $15.5bn for Vietnam’s coal-to-clean transition
The deal will help Vietnam to peak its greenhouse gas emissions five years earlier than planned and scale up renewable energy generation
Which countries are ‘particularly vulnerable’ to climate change?
The European Union pushed to restrict loss and damage funds to “particularly vulnerable” nations, but the definition is still up for debate
‘Don’t fail us’ – Climate Weekly
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Who should pay for loss and damage? Spoiler: not China
While there is a case for South Korea, UAE and Israel to join the donor pool, whichever way you measure it the US should pay more
Scientists warn data gaps must not block loss and damage
A shortage of weather stations across Africa shouldn’t stop climate victims accessing critical funds, scientists say
Greenwash alert as Cop27 draft allows double claiming of carbon credits
Companies and countries could take credit for the same tonne of CO2 cut under rules being negotiated in Sharm el-Sheikh
Cop27 tees up speed dating for climate investment deals
Sharm el-Sheikh talks are expected to approve a series of matchmaking events between investors, governments and project developers
Republican gains quash hopes of US delivering on climate finance
The results of the US midterm elections make it harder for president Joe Biden to meet his promise to developing countries
EU opens the door to a loss and damage facility – if China pays
Frans Timmermans gave the strongest signal yet the EU is willing to consider a fund for climate victims – but no decision this year
German, US cash aims to cut Egypt’s gas use and boost exports
Egypt has agreed to consider a net zero target and speed up renewable deployment with the multimillion dollar package
Latin America closes ranks at Cop27 around climate finance
Debt and climate shocks, combined with political shifts, have united historically left- and rightwing countries behind common asks
Vulnerable nations publish climate spending wish-lists
Over 30 countries are putting together “prosperity plans” – but their priorities are not always the same as funders’
Cop27 bulletin: Could polluter taxes fund loss and damage?
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