Climate finance
European Investment Bank ends lending to fossil fuel projects
EU finance ministers agreed to phase out EIB lending to unabated oil and gas projects, overcoming opposition from some member states in marathon board meeting
GCF partners with Chilean private equity firm as unrest continues
Board members call for reform to accreditation process after civil society warns of due diligence shortfalls
How to make the Green Climate Fund a better force for change
Vastly more of the fund’s money should go to projects that adapt to the impacts of climate change
Green Climate Fund replenishment fails to fill hole left by Trump’s US
After the US, Russia, and Australia did not contribute, other developed countries fell $500m short of the fund’s starting capital
As rich countries slow walk green finance, Putin offers Africa an alternative
Two summits in one week presented a choice for African leaders: stalled promises of climate finance in Paris or business deals in Sochi
‘New Bretton Woods’ needed to fix global system and climate: outgoing UN official
As she steps down from leading UN sustainable energy push, Rachel Kyte said global institutions must be rebuilt and aligned with action on climate change
China and India demand cash for climate action on eve of UN summit
World’s largest and fourth largest emitters said the onus remained on the countries historically responsible for climate change to move money
Only one-fifth of climate finance going to adaptation, finds OECD
Donors overwhelmingly favour supporting projects that cut emissions rather than cope with the impacts of climate change, despite calls for parity
Poor countries will hold the rich to account on climate finance
The major UN climate fund is running short of money, will rich countries live up to the promises they have given?
Preparations for the climate crisis will save trillions, commission finds
Every $1 spent on climate adaptation could see between $2 and $10 of net economic benefit, but current investments are lagging way behind
Asset managers worth $15 trillion make climate risk promise to Macron
The French president gathered the world’s biggest investors this week to push them to back climate-friendly projects
AIIB must stop backing gas in climate-hit Bangladesh
The Beijing-headquartered development bank is skewed towards fossil fuels, when it should be helping poorer countries access clean renewable power
African ministers lobby UK for control of climate aid
Ministers from Uganda and the Gambia met the UK’s development secretary to ask for more say over how climate finance is spent
Climate finance misses its mark in Ugandan landslide zones
On the slopes of Mount Elgon, residents live in fear of the next deadly landslide, as tree-planting solutions fail to take root
One billion without power need new World Bank president to keep faith
As the bank welcomes its new boss, he must fulfil its mission to prevent climate change by bringing clean energy to those currently in the dark
Macron puts European climate bank on EU election agenda
French proponent ‘pleased’ Macron has backed a new institution, although the president’s support was left deliberately vague, said a government official
Bill Gates throws new weight and cash into climate fight
In back-to-back events this week, the billionaire launched projects to slow global warming and limit the damage it causes
Bangkok bulletin: No one’s talking about ambition
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Struggling climate funds must be renewed, says Uruguay minister
Promises of climate cash remain unfulfilled, said Eineda de León, who also called for unity in a region split by the collapse of Venezuela
One tenth of UK climate aid spent through western consultants
Corporate role in UK overseas climate projects revealed for the first time, with critics saying it undermines development of expertise in poor countries