Climate finance
Senegal shows African countries are not passive beneficiaries of climate finance
While drawing up their renewables deal with wealthy countries, Senegalese government, civil society, business and researchers had their say
Public banks agree to check investments against countries’ climate plans
Ten multilateral development banks have agreed on how to make sure their investments meet climate goals. But experts told Climate Home the rules do not go far enough.
Multilateral banks’ investments in industrial livestock undermine their Paris climate commitments
Public money should stop flowing towards the expansion of animal agriculture, which is responsible for a fifth of the world’s emissions
Cop28 boss slams rich nations “dismal” $100bn finance failure
Developed nations should have met the climate finance commitment in 2020. But they are still not there.
UN’s Green Climate Fund too scared of risk, finds official review
The UN’s flagship climate fund is struggling to clearly manage risks in its projects, an independent review has found, making it wary of taking on high-impact projects in developing countries
World Bank steering committee and US urge for reforms on climate lending
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.
Uncertainty on renewable retraining frightens South Africa’s coal communities
An investigation by Oxpeckers and Climate Home found coal-reliant communities in South Africa have scarce details on how funds for reskilling workers from its $8.5 billion deal will be implemented.
Nature’s stewards under attack – Climate Weekly
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Vietnam’s energy transition deal is a ‘black box’, partner warns
A Vietnam government partner suggested that even Hanoi is unaware of the details of the energy transition package
World Bank backs mega dam threatening to displace thousands in Mozambique
The World Bank argues the project will accelerate the energy transition in southern Africa, but people facing displacement say their voices are not being heard
Canada sets out green investments guide amid complaints of industry capture
The process to create Canada’s first guide for green investiments has been accused of being undemocratic and extending the life of polluting fuels.
India set to push for green World Bank reforms at G20
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
World Bank proposes freeing up $4bn by loosening lending rules
The bank is under pressure to free up more money to tackle climate change but one expert said this measure does not go far enough
World Bank chief to step down early after climate controversy
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
Colombia gets $70m from new global renewable integration fund
Colombia will get the first pay-out of a $300m Climate Investment Funds pot for transmission lines, batteries, EV chargers and green hydrogen
Rich nations mobilise $15.5bn for Vietnam’s coal-to-clean transition
The deal will help Vietnam to peak its greenhouse gas emissions five years earlier than planned and scale up renewable energy generation
Cop27 tees up speed dating for climate investment deals
Sharm el-Sheikh talks are expected to approve a series of matchmaking events between investors, governments and project developers
Republican gains quash hopes of US delivering on climate finance
The results of the US midterm elections make it harder for president Joe Biden to meet his promise to developing countries
EU opens the door to a loss and damage facility – if China pays
Frans Timmermans gave the strongest signal yet the EU is willing to consider a fund for climate victims – but no decision this year
Latin America closes ranks at Cop27 around climate finance
Debt and climate shocks, combined with political shifts, have united historically left- and rightwing countries behind common asks