Filtered by category: Climate Change News, tag: climate finance × Clear
A legal fiction blocking billions in climate finance will be challenged this week
Matched: climate
UN member states are meeting in New York this week to negotiate a new international tax framework that could unlock up to $500 billion annually in climate finance. At issue is a legal convention allowing multinational corporations and wealthy individuals to shelter money in low-tax jurisdictions, depriving developing nations of funds needed for climate action. Supporters say reforming these rules could significantly boost available climate finance.
The case for making polluters pay has moved into the mainstream
Matched: climate
Fossil fuel companies are expected to report large profits linked to the Iran war, while Europe faces heatwaves and wildfires. The coincidence is fueling mainstream debate about whether polluters should bear the costs of climate-related damage. The idea of making fossil fuel firms financially responsible for climate harm, once considered fringe, is gaining broader public and political traction.
Will new UK PM’s green measures at home cause climate finance pain overseas?
Matched: climate
UK Prime Minister Keir Starmer's government has introduced domestic green measures including reduced bus fares and lower household electricity taxes. However, concerns have emerged over climate finance implications abroad, after the UK converted its contribution to a new global forest fund from a grant to a loan — a change critics say could undermine international climate commitments and burden developing nations seeking funding for forest protection.
Loss and damage fund delays first project approvals as needs dwarf resources
Matched: climate
The Loss and Damage Fund has delayed approving its first projects after receiving far more funding requests than it can meet. Board members opted for more time to decide which proposals to prioritise. The fund, established to help vulnerable nations cope with climate-related losses, faces a significant mismatch between available resources and the scale of need from applicants.
The loss and damage fund needs far more finance to deliver climate justice
Matched: climate
Campaigners are calling for the loss and damage fund, established to help vulnerable nations cope with climate-related disasters, to be significantly scaled up. Critics say current financing falls far short of what is needed and argue the fund must allow affected communities direct access to grants, rather than routing money through governments or intermediaries, to effectively deliver climate justice.
Billions unlocked as Green Climate Fund agrees to spend more and save less
Matched: climate
The Green Climate Fund's board has agreed to let management invest more money in climate projects in developing nations while holding smaller reserves. The decision unlocks billions of dollars previously held back, directing greater resources toward climate action in poorer countries through the UN's primary climate finance mechanism.
World Bank’s climate work can endure without finance target, experts say
Matched: climate
The World Bank has dropped its headline climate financing target under US pressure but will continue its broader climate action plan. Experts say the institution's climate work can remain effective without the numeric goal, as underlying programs and commitments stay intact. The removed target had been a visible benchmark for the bank's climate ambitions.