Climate finance
US trade agency backs oil and gas drilling in Bahrain despite Biden pledge
Ex-Im’s financing would boost fossil fuel production in the Gulf state with the construction of over 450 new oil and gas wells
“Shameful”: Shell uses carbon credits under investigation to meet climate targets
The oil and gas giant offset part of its emissions with over a million credits from Chinese projects suspended because of integrity concerns
Rich nations miss loss and damage fund deadline
Their failure to agree risks delaying help for victims of climate disasters in developing countries
For Cop29 to succeed, rich nations must get their parliaments to agree more finance now
Rich nations always say they need their parliaments approval for climate finance at Cops – now is the time to start
Junk offset sellers push to enter new UN carbon market
Renewable energy schemes make up four-fifths of Kyoto-era projects hoping to keep selling offsets under Article 6, sparking concerns over the credibility of the new market.
High stakes for climate finance in 2024
Setting finance goals without the revenues and systems to deliver on them is a recipe for disappointment – this year it must be different.
Witness bribing minister’s family own Congolese carbon credit company
The minister Jean-Pierre Bemba bribed witnesses in his war crimes trial and holds power over the environment minister Eve Bazaiba
First ever Paris Agreement offsets face integrity questions
As Switzerland buys the first ever bilateral offsets, civil society’s analysis suggests the claimed emissions reductions from Thai buses would have happened anyway
Ten climate questions for 2024
The US election and negotiations on a new global finance target are the most important things for the climate in 2024
Six takeaways from 2023’s climate change news
Fossil fuel fights, finance struggles, a resurgent relationship, and much more. We recap the most impactful international climate developments in 2023.
Countries go ahead with carbon deals despite Cop28 standoff
The US and EU couldn’t agree on common rules for bilateral carbon trades in Dubai, leaving a vacuum for voluntary certifiers
What is Alterra, the UAE’s $30 billion green investment fund?
A big part of the $83 billion “mobilised” at Cop28, Alterra is primarily a profit-seeking fund with some development goals
Dutch initiative must turn the tables on fossil fuel subsidy reform
We’ve had enough “transparency” and “dialogue” around fossil fuel subsidy reform. It’s time to change the defaults
Vietnam charts uncertain coal path as finance falls short
Vietnam’s just energy transition partnership plan has no timeline for retiring coal, as backers offer mainly commercial loans, not grants
Four questions for Cop28 to settle about a global carbon market
As carbon credits face intense scrutiny, negotiators will wrangle over how to ensure the integrity of a new global carbon market
Meet the Italian fugitive advising Emirati start-up Blue Carbon
Samuele Landi has been convicted for bankruptcy fraud in Italy. That was no problem for the UAE firm doing forest carbon credit deals across Africa.
Slow start for Indonesia’s much-hyped carbon market
Since President Widodo launched Indonesia’s exchange two months ago, there’s been barely any trading of carbon credits
OECD: Rich countries ‘likely’ to hit $100bn climate finance goal in 2022
Data shows countries provided $89.6bn in 2021, but funding for adaptation declined.
France, Kenya set to launch Cop28 coalition for global taxes to fund climate action
The taskforce, set to be launched at Cop28, will consider the feasibility of levies on shipping, aviation, financial transactions and fossil fuels.
UK aid cuts leave Malawi vulnerable to droughts and cyclones
After the UK cut short a £52m climate adaptation scheme in Malawi, vulnerable communities saw their livelihoods destroyed by Cyclone Freddy