Finance
Global billionaires tax to fight climate change, hunger rises up political agenda
Brazil and France want the G20 to get behind a global minimum tax on billionaires’ wealth, also backed by IMF chief, but Germany rejects the idea
As donors dither, Indigenous funds seek to decolonise green finance
Tired of waiting for donor dollars for climate and nature protection to trickle down, Indigenous rights groups are creating new funds to do things differently
Fossil fuel debts are illegitimate and must be cancelled
The Spring Meetings of the World Bank and IMF are a chance to transform outstanding debts for fossil fuel projects into grants for renewable energy systems
World Bank climate funding greens African hotels while fishermen sink
Climate Home reveals that the World Bank Group has counted support for luxury hotels as climate finance, which experts say fails the most vulnerable
SBTi needs tighter rules on companies’ indirect emissions
Businesses are not required to cut all their value chain emissions in line with a 1.5C warming limit – and allowing offsetting could weaken efforts further
Zambia’s fossil-fuel subsidy cuts help climate and kids – but taxi drivers suffer
Under pressure from the IMF, the government has redirected subsidies into education, welfare and debt reduction, leaving fuel-heavy sectors with higher costs
Expectations mount as loss and damage fund staggers to its feet
Demand for finance to pay for the aftermath of climate impacts is rocketing – but progress on getting a new UN loss and damage fund up and running is slow
Climate leaders, oil bosses pitch alternate energy-transition realities
As climate officials prepare the next steps in a globally agreed shift away from fossil fuels, oil and gas executives return fire
African dismay at decision to host loss and damage advice hub in Geneva
The UN agencies that will run the Santiago Network recommended it should be based in Nairobi but governments have instead chosen the world’s third-most expensive city
Shipping sector pushes to keep emissions-tax cash for itself
The industry and governments’ maritime ministries want a proposed levy on emissions spent on cleaning up shipping, not used for wider climate goals like loss and damage
