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Tag Archives: climate finance

‘Rich nations need to bridge climate finance gap’ – Activists react to UNGA 76 outcomes

UNGA 76

With just weeks to go before COP26, it is clear rich countries and major emitters still need to ramp up efforts to bridge the gap in climate finance, submit new and enhanced nationally determined contributions and address the needs of vulnerable communities experiencing loss and damage. The 76th Session of the UN General Assembly (UNGA 76) Members of Climate Action ...

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Progress reports: LDCs Group demands deep emissions cuts, scaled up climate finance

Sonam P. Wangdi

The release of two reports last week providing updated information on the level of ambition of national climate plans around the world and the amount of climate finance provided and mobilised are the cause of concern for the least developed countries. Mr Sonam P. Wangdi, Chair of the Least Developed Countries (LDCs) Group As world leaders meet at the UNGA, ...

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Campaigners react as US pledges to double climate finance for vulnerable nations

Joe Biden

President Joe Biden announced on Tuesday, September 21, 2021, at the United Nations General Assembly (UNGA) that he would double US climate finance for vulnerable nations from the previously promised $5.7 billion a year by 2024, including for adaptation. U.S. President Joe Biden The climate movement welcomes the pledge but reinforces the need for stronger and more ambitious commitments, especially ...

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Financing critical for climate change targets in developing countries – OPEC

OPEC

The Organisation of Petroleum Exporting Countries (OPEC) says financing remains critical in meeting any climate change target for developing countries. Mohammed Barkindo, Secretary General of OPEC (Organisation of the Petroleum Exporting Countries) speaks during the 25th Caspian International Oil and Gas Conference in Baku, Azerbaijan on May 30, 2018. Photo credit: Resul Rehimov/Anadolu Agency/Getty Images Dr Mohammad Barkindo, OPEC Secretary ...

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Sharma meets Kenyatta, highlights need for developed nations to honour climate finance pledges

Uhuru Kenyatta

COP26 President Alok Sharma, on Tuesday, July 20, 2021 held talks with Kenyan President Uhuru Kenyatta in London, ahead of the United Nations Climate Change Conference in November. The two presidents discussed the upcoming climate conference and the need for developed nations to honor their pledges towards climate finance to developing countries, in Africa and beyond. President of Kenya, Uhuru ...

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UN chief urges rich countries to redeem $100bn pledge to climate finance

Antonio Guterres

UN Secretary General, António Guterres, has said that the world was running out of time to limit global temperature rise to below two degrees Celsius, saying that it was a matter of life or death for climate vulnerable countries. UN Secretary General, Antonio Guterres Speaking to the first Climate Vulnerable Finance Summit of 48 nations systemically exposed to climate related ...

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$500m in climate finance under consideration as GCF board meets

Javier Manzanares

The 29th meeting of the Green Climate Fund (GCF) Board that commenced on Monday, June 28, 2021 is considering new funding proposals that total over $500 million in climate finance for adaptation and mitigation. Javier Manzanares, Deputy Executive Director of the Green Climate Fund (GCF) The four-day virtual meeting, the second of the year, is alongside these proposals considering a ...

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Rich countries’ indifference to scale up finance could undermine COP26, activists warn

Leaders’ Climate Summit

Midway through 2021, civil society organisations from Climate Action Network (CAN) are deeply concerned about the lack of substantial progress from developed countries on meeting their climate finance obligations under the Paris Agreement. Leaders’ Climate Summit hosted by US President Joe Biden The Leaders’ Climate Summit hosted by President Joe Biden, the Petersberg Climate Dialogue hosted by Chancellor Angela Merkel, ...

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Gender groups urged to notify authorities of interest in climate finance

Green Climate Fund Readiness Support Programme

Women and gender groups have been called upon to make their interest in climate finance matters as they relate with the Green Climate Fund (GCF) known to the appropriate authorities and entities. Participants at the Training Workshop on Green Climate Fund Readiness Support Programme and Consultative Forum on Nigeria’s Readiness Support Ms. Titilope Akosa, Executive Director, Centre for 21st Century ...

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AfDB commits $12.5bn to climate finance

Akinwunmi Adesina

The African Development Bank (AfDB) has committed an additional $12.5 billion to climate finance between 2020 to 2025 in Africa. AfDB president, Akinwunmi Adesina President of the AfDB, Dr Akinwumi Adesina, said this at the first online international Climate Adaptation Summit (CAS) 2021 on Monday, January 25, 2021.  The two-day summit, hosted by the Dutch government, aimed to adopt a roadmap ...

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