Climate finance
Angola’s oil dependency thwarts its exit from the group of poorest nations
Graduation from the UN group of least developed countries is usually seen as a win, but Angola deferred the move after oil exports plummeted during the pandemic
Three ways the EU, China and US should deepen cooperation on climate in 2021
Building coalitions on green finance and carbon pricing and putting climate at the heart of diplomacy will allow the big three emitters to deliver on net zero goals
US campaigners call on Joe Biden to commit $8bn to the Green Climate Fund
A letter signed by 46 climate and green groups urges the White House to fulfill its $2bn outstanding pledge to the UN-backed fund and double its initial contribution
Covid-19 normalised social protection. Now apply it to the climate crisis
Almost every country rolled out measures such as cash transfers, food and sick pay to cope with coronavirus. Victims of climate shocks need the same support
John Kerry promises ‘significantly’ more climate finance at adaptation summit
Presidential climate envoy John Kerry said the US would work to protect the vulnerable and make amends for a four-year absence from international climate action
UK plans climate donor summit to address ‘dismal’ support for poorer nations
The presidency of next year’s Cop26 climate talks will bring vulnerable countries and donors together to address climate and development challenges
UK aid budget cuts undermine trust ahead of Cop26 summit, experts warn
As developing countries prepare to negotiate a scaling up of climate finance at next year’s Cop26, the UK host faces criticism for reneging on its aid commitment
EIB approves €1 trillion green investment plan to become ‘climate bank’
The EU investment arm’s climate roadmap ends lending to airport expansions but does not require all the bank’s intermediaries to have decarbonisation plans
Asian development banks resist coal phase-out pledge at French summit
Despite net zero pledges from the governments of China, Japan and South Korea, the ADB and AIIB are reluctant to commit to reducing finance to fossil fuels
As young people, we urge financial institutions to stop financing fossil fuels
Development banks supporting dirty projects are exacerbating climate chaos. This year needs to be a turning point to a just and sustainable future
OECD: One-fifth of climate finance goes to adaptation as share of loans grows
Donor countries mobilised $78.9 billion of climate aid in 2018, but developing nations are expected to pay back nearly three quarters of the money
Oxfam: Rich countries are not delivering on $100bn climate finance promise
Nearly 80% of climate finance is in the form of loans that must be repaid, adding to the debt burden of the poorest countries, anti-poverty campaigners found
Ballooning debt cripples poor countries’ hopes of green recovery from Covid
Vulnerable countries are struggling to survive the economic impacts of the coronavirus pandemic, let alone build back better, as debts mount up
Campaigners confront IMF chief over green recovery contradictions
Analysis shows IMF advice to countries accessing Covid-19 emergency funds fails to systematically address climate risks and implicitly endorses fossil fuel subsidies
UN fund pays Indonesia for forest protection as deforestation rises
Campaigners accuse the Green Climate Fund of letting governments game the UN’s Redd+ forest protection scheme, as Indonesia is awarded $103 million
The EIB has further to go to become the “EU Climate Bank”
The European Investment Bank should stop supporting airport expansion and close the loopholes in its policy against lending to fossil fuels
UK aid and foreign ministry merger raises fears for politicisation of climate finance
The move puts Britain’s economic interests abroad above efforts to eliminate poverty and protect the most vulnerable, experts warn
Coronavirus delays work to protect the world’s poor from climate shocks
Travel restrictions and patchy internet access are slowing down efforts to improve resilience to weather extremes like cyclones Amphan and Nisarga
Clean energy is vital to the Covid-19 response in the world’s poorest countries
Renewable mini-grids can power health facilities and irrigation systems, making communities more resilient to future pandemics and climate shocks
Merkel: don’t neglect climate finance to the world’s poor
As rich countries spend billions bailing out industries hit by the Covid-19 slump, the German chancellor urged them not to forget their climate commitments