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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.
UN seabed regulator defends authority as mining firms seek to halt inquiry
Matched: climate
The UN's International Seabed Authority has defended its right to investigate deep-sea mining companies after The Metals Company attempted to halt an inquiry into its subsidiaries. Campaigners accused the firm of obstruction, while the company argues it is being targeted without procedural basis.