Developed nations should have met the climate finance commitment in 2020. But they are still not there.
Joe Biden urged leaders of major emitting economies to step up efforts to roll out zero-emission vehicles, cut methane emissions and deploy carbon capture technologies
At a meeting discussing the World Bank’s stronger focus on climate, Russia has also urged the lender to extend its support for gas projects.
At the World Bank’s spring meeting, US Treasury Secretary Janet Yellen called for the adoption of a reform that would free up funds for climate lending.
Cop27 resulted in the historic decision of setting up a loss and damage fund to help vulnerable countries, but success depends on a few key actions.
Scientists say funding needs to increase ‘many-fold’ in order to reach climate goals and protect communities disproportionately affected by global warming
Indigenous people in Nicaragua have accused a Green Climate Fund project of exacerbating violence with settlers invading their land
Researchers are working with eight developing countries to pool resources and respond to climate disasters with local solutions
India wants the World Bank to lend more money for climate finance, at cheaper rates, in developing countries and will use its G20 chair to push this agenda
Last year, the World Bank’s president David Malpass refused to accept the scientific consensus on global warming, leading to calls for the US government to push him out
Climate negotiators expressed relief as the US secured congressional support for climate spending, but said developing countries need direct support to follow
“We can turn the entire population of the Colombian Amazon into a population that cares for the forest, but we need the world’s funds to do it,” says Gustavo Petro
2020 was the deadline for delivering the $100bn climate finance promise
The new guidelines include a special clause for natural gas, allowing member states with the lowest GDP to transition from coal to gas
At a summit of least developed countries, leaders said they needed aid to overcome climate disasters and put ambitious climate plans into action
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
Report launched at Marrakech summit highlights modest progress in climate spending, but gaps remain
NEWS: Report aims to build confidence in funding for poor countries ahead of Paris summit, but analysts say challenges remain