Tag Archives: climate finance

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 ...

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. ...

To help developing countries monitor and report progress in a transparent manner under the Paris Climate Agreement, a new financial initiative and an associated trust fund was approved on Tuesday in Washington, DC by the Global Environment Facility (GEF) Council. Set up in response to a Paris Agreement decision, the Capacity Building Initiative for Transparency (CBIT) trust fund will help countries in their efforts ...

Norwegian Prime Minister Erna Solberg on Monday (December 7, 2015) in Paris at the ongoing UN climate change conference (COP21) announced plans to scale up Norway’s commitments to the Green Climate Fund (GCF). Norway already pledged $258 million to the Fund last year as part of the initial resource mobilisation and has now promised to double that figure by 2020, provided that GCF can finance verified emissions reductions in deforestation and forest degradation. ...

South Africa’s Ambassador Nozipho Mxakato-Diseko, on behalf of the Group of 77 and China (to which Nigeria is aligned with), said on Wednesday in Paris at the ongoing COP21 UN climate change summit during the Open-Ended Consultation on Finance Process that the financial mechanism of the Convention must serve as the financial mechanism of the legal agreement I have the ...

Multilateral Development Banks (MDBs) at the 21st Session of the Conference of the Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) holding in Paris on Wednesday, December 2, 2015 identified climate financing for development action as a crucial step in putting the world on the pathway to sustainable development. In a joint statement, the heads of ...