Countries attending the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), better known as COP24, have made several new climate finance commitments, increasing existing commitments to both the World Bank Group’s Adaptation Fund and the Green Climate Fund.
The Green Climate Fund on Sunday approved more than $1 billion in new projects and programs aimed at supporting climate action across developing nations while at the same time launching the Fund’s first replenishment.
The African Development Bank, the Green Climate Fund, and the Africa50 investment fund signed a letter of intent on the sidelines of annual meetings late May that will see the three international organizations collaborate on the Desert to Power Program, an initiative aimed at developing solar throughout the Sahel region of Africa.
The African Development Bank has this week secured $52.5 million in funding from the Green Climate Fund for Zambia’s Renewable Energy Financing Framework which will seek to finance 100 megawatts (MW) of renewable energy.
On Friday, climate change efforts across the world reached a very important milestone: the release of $5 billion to begin the work of the Green Climate Fund, which will become the main financial operator of the UN Framework Convention on Climate Change. Initial climate financing disproportionately favored middle-income developed countries and … [continued]
The UN’s Lima COP20 conference stands up very well in its final days against those who doubt or scorn international efforts to reduce climate impacts. It’s not just a lot of hot air. The congruence of international climate experts and decisionmakers is allowing organizations public and private, worldwide, to focus … [continued]
Climate news in general captured press attention on Friday and Saturday alongside the goings-on at the Lima COP20 meeting. Here’s a roundup, including several research reports, carbon capture and storage schemes, commitments and funding developments, a recent retirement, and weather in the Philippines. More bad news about the environment broke. … [continued]
