Developing countries need up to $387bn a year to adapt to climate change but flows of international public cash are faltering at the same time as the effects of global warming become more disastrous, the UN has said.The amount needed had increased by some $47bn since the last annual assessment by the UN Environment Programme,...
The EU’s new climate commissioner has been criticised for backsliding on a commitment to push for a fossil fuel phase-out at the upcoming COP28 climate summit in Dubai, ahead of talks on Monday (16 October) where EU countries are expected to agree their stance. Dutchman Wopke Hoekstra was officially nominated on Monday (9 October), on...
A little more than a month remains before the start of the next United Nations Climate Summit, known as COP28, taking place in Dubai. But the already fraught talks are facing another potential obstacle: the threat of regional Mideast instability following Hamas’ terrorist attacks in Israel. Why it matters: At COP28, countries are tasked with weighing actions...
The UN failed short of a US$10 billion target after the US and other wealthy nations failed to fulfil their climate finance pledges at a crucial climate financing conference held last week in Bonn, Germany. Last week’s Bonn conference on climate change witnessed a significant setback as the US and other rich countries failed to...
A Dubai-based company, Blue Carbon, inked a deal with Zimbabwe to create carbon credits from offsetting projects in the African country involving almost a fifth of its total landmass. The two parties signed a memorandum of understanding (MoU) worth $1.5 billion to fund forest protection and rehabilitation projects. The carbon sequestered of the forests will...
NEW YORK – As we move from UN Climate Week to COP28 in Dubai later this year, we must stop the “greenwishing” and “greenwashing” and start thinking about the instruments that will enable the private sector and private investors to channel more capital toward climate resilience and sustainable development. While the public sector has an...
Fossil fuel companies should not be included in the COP 28 climate summit if they continue to block climate action, the UN’s former climate chief told reporters on Thursday. “If they are going to be there only to be obstructors, and only to put spanners into the system, they should not be there,” said Christiana Figueres, who...
Record-breaking heat in China. Wildfires forcing Swiss villages to evacuate. Drought ravaging Spanish crops. As the costs of climate change rack up, a debate is surging among governments: who should pay? The question has been in the spotlight amid this week’s climate talks between the U.S. and China, where the world’s two biggest economies tried to find ways to work...
The writer is director of the Belfer Center for Science and International Affairs, Harvard University Kennedy School of Government At the foot of the Eqi Glacier in Greenland in June, I watched ice formed thousands of years ago drop into the warming ocean. With this vivid depiction of climate change in my mind, I was...
Countries that import the most oil will have to make the biggest contribution to the fund The biggest achievement at the annual United Nations climate summit last year was committing to create a fund that would compensate the poorest for destruction wrought by global warming. One of the questions at the upcoming COP28 summit will...