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Tag Archives: climate finance

GCF boosts Vanuatu’s capacity to access climate finance

Charlot Salwai

The Green Climate Fund (GCF) has disbursed $296,000 to Vanuatu to increase this vulnerable island country’s capacity to access climate finance. The transfer of these funds is part of GCF’s readiness support, which assists developing countries ensure the climate finance they receive matches their own development needs. GCF is working with its delivery partner the Global Green Growth Institute, a Korean-based international ...

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Nigeria develops funding proposal to access climate fund


Bothered by the fact that it is yet to access the the Green Climate Fund (GCF), Nigeria has kick-started moves to turn things around and ensure the financial capability to battle the effects of the changing weather. The Department of Climate Change (DCC) in the Federal Ministry of Environment, in its capacity as the nation’s Designated National Authority (DNA) to ...

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V20 economies expand, announce new climate finance initiatives


Climate-vulnerable economies comprising the Vulnerable Twenty (V20) Group on Sunday, April 23, 2017 in Washington, D.C. expanded its membership, and announced it would pioneer innovation in climate finance to help secure continued economic development among its members while tackling the costly economic impacts of climate change.  The group said it is seeking ambitious climate action from G20 economies. V20 officially ...

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Protocol may pave way for local authorities to access climate finance


Access to climate finance by institutions and governments received a boost last week when two international organisations decided to collaborate in that regard. This came about on Friday, April 7, 2017 in Rabat, Morocco when Pan-African organisation, United Cities and Local Governments of Africa (UCLG Africa), and ENERGIES 2050, an NGO that intervenes on the International scene to implement a low ...

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GCF approves $755m in funding for eight projects

Howard Bamsey

The first Green Climate Fund (GCF) Board meeting of 2017 concluded on Thursday, April 6, 2017 by approving eight new projects and programmes valued at $755 million in GCF funding to assist developing countries respond to climate change. The decisions were reached during the 16th meeting of the Board (B.16) at GCF Headquarters in Songdo, Republic of Korea. Taking the eight new ...

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How to raise trillions for green investments

Henry M. Paulson Jr

Henry M. Paulson Jr., the chairman of the Paulson Institute, a former Treasury secretary and chief executive of Goldman Sachs, in this op-ed published recently in the New York Times, suggests way to raise trillions of dollars for investments sustainable development ventures Saving our planet from the worst effects of climate change won’t be cheap. A new report from the United Nations says ...

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Need to enthrone climate justice in negotiations

Nnimmo Bassey

Rights activist, Nnimmo Bassey, at the Nigerian side event – Taking Climate Action for Sustainable Development – on Thursday at the UNGA in New York, submits that it is time to robustly enthrone climate justice in the climate negotiations I thank my president and the minister of environment for providing this August space to outline the strides Nigeria is making ...

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Nigeria may adopt Green Bonds to finance NDCs

Justine Leigh-Bell

Nigeria appears to have identified a fresh financial mechanism towards realising its climate action plans: Green Bonds. At a Stakeholder Consultation held on Friday in Abuja at the instance of the Federal Ministry of Environment, participants debated the issuance of Green Bonds as an innovative source of funding climate and sustainable development programmes. Green (or Climate) Bonds are fixed-income financial ...

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Manila climate forum focuses on Loss and Damage


Beginning from Monday and all through Tuesday (5-6 September) in Manila, capital of the Philippines, experts are discussing the issue of loss and damage associated with the unavoidable impacts of climate change, and focus on financial instruments that address the risks of loss and damage in helping affected communities. Loss and Damage relates specifically to developing countries that are particularly ...

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G20 finance ministers pledge to scale up green finance


G20 Finance Ministers and Central Bank Governors held their third meeting on July 23-24 in Chengdu, and issued the final Communiqué before this year’s G20 Summit in Hangzhou, emphasising the development of green finance and welcoming voluntary options developed by the G20 Green Finance Study Group (GFSG). This year, green finance was incorporated for first time into the G20 agenda. ...

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