Climate finance
‘Breakthrough’: IMF develops fund to help debt-laden nations address climate risks
The IMF trust fund could be worth up to $50 billion and meet vulnerable countries’ call for support to address the triple crisis of debt, Covid and climate change
Heat rises on donor countries to meet overdue $100bn climate finance promise
Nearly 150 green groups have told rich governments they must make up for missing their climate aid target by delivering $600bn in total 2020-25
Latest data shows rich countries little closer to $100bn climate finance promise
OECD figures show international climate finance increased by just 2% from 2018 to 2019, leaving a $20 billion shortfall to the 2020 target
EU commits €4 billion more to climate vulnerables, calls on the US to step up
Ursula Von der Leyen called out the US for failing to deliver its fair share of climate cash – an issue poor nations say is critical to success at Cop26
Displaced Afghan negotiator calls for climate aid to war-torn states
Ahmad Samim Hoshmand, a top climate official before he fled the Taliban, says Afghans need support more than ever to cope with climate impacts
The future of humanitarian aid? Pilot scheme stops drought leading to hunger
An early intervention approach tested in Pakistan and Senegal unlocks aid for predictable and predicted extreme weather before communities suffer
The climate crisis is intensifying. So why is climate finance drying up?
As the IPCC warns of intensifying climate impacts, rich countries must deliver on their funding promises and set new commitments to the developing world
South Africa proposes global goal for adaptation at pre-Cop26 ministerial
Environment minister Barbara Creecy called for quantifiable improvements in resilience to climate impacts, to give the adaptation agenda the same weight as emissions cuts
Developing nations put numbers on the table for the next climate finance goal
Nearly 100 developing countries have come together to define what success means at Cop26, raising the stakes for donor countries to step up their finance pledges
Argentina pitches green debt swap, with the Pope’s blessing
Pope Francis is the unlikely champion of a pioneering green debt relief plan for Argentina, but it is a politically sensitive issue in his home country
Row erupts at Green Climate Fund over who defines climate adaptation
Two adaptation projects didn’t make it pass the UN’s flagship fund’s technical panel, while board members decide to partner with a fossil fuel backing Japanese bank
Norway pays Gabon $17m for forest protection despite deforestation spike
While proponents say results-based payments can support forest protection in the long term, critics say the Gabonese government has done little to earn the money
G7 offers ‘peanuts’ to developing world, putting climate ambition in doubt
While Canada and Germany set out new climate finance pledges, rich countries are still falling short of a target they promised to meet in 2020
G7 leaders told solidarity with poorer nations is critical to Cop26 success
The UK is hoping to broker agreements on climate finance and vaccine support to developing countries when G7 leaders meet in Cornwall next week
The EIB won’t become a climate bank until it fully stops supporting fossil fuels
The bank has committed to end fossil fuel financing by the end of the year but has handed out billions in support for companies wedded to the industry
US, UK and Norway launch $1bn initiative to protect tropical forests
The Leaf Coalition aims to mobilise $1 billion of public and private finance this year to cut emissions from deforestation and forest degradation
US pledges to double international climate finance at Earth Day summit
Joe Biden made a start on restoring US climate credibility after four lost years, with finance and emissions pledges, but campaigners say more is needed
Pakistan explores debt-for-nature scheme to accelerate its 10 billion tree tsunami
Creditors could grant Pakistan debt relief in exchange for meeting nature restoration targets, under a proposed first-of-its-kind bond
Under fire over aid cuts, UK hosts summit to help vulnerable nations fund climate action
Research to enhance climate action in developing countries is being threatened with aid cuts at a time when the UK is seeking ‘practical steps’ to boost climate investment
Rare IMF relief offers a hope of green recovery to debt-laden nations
As the IMF prepares a $650 billion injection of funds into the global economy, there are calls to target support to climate vulnerable nations