Bridging the gaps in public finance for climate adaptation
2 weeks, 4 days ago

Bridging the gaps in public finance for climate adaptation

Hindustan Times  

The current gap in global adaptation finance for developing countries is estimated at $194-366 billion per year. The brief also examines innovative approaches to expand adaptation finance beyond traditional public funding, particularly in developing countries, where climate vulnerabilities are highest. The two-year work programme was carried out by two technical bodies that support the Meeting of Parties to the Paris Agreement CMA—the Subsidiary Body for Scientific and Technological Advice and the Subsidiary Body for Implementation. While the work programme highlighted that adaptation action has a time-bound goal, the adoption of the global goal at COP28 fell short due to a lack of quantified targets and financial support. The COP28 decision reiterates that, by 2025, parties need to double their collective climate finance for adaptation to developing countries from 2019 levels.

Adaptation Climate Developing Countries Public Finance  adaptation  gaps  bridging  developing  programme  work  goal  support  climate  global  public  finance

History of this topic

Climate resilience funding: Experts call for blended finance and policy innovation
1 week, 6 days ago

Climate resilience funding: Experts call for blended finance and policy innovation

Firstpost  

Experts emphasised the urgent need to address the funding gap for climate adaptation and resilience, particularly in vulnerable regions. They also expressed optimism about the potential for innovative financing mechanisms and collective action to address the climate resilience gap, urging governments, investors and people to prioritise adaptation as a critical component of climate action. The Raisina Dialogue 2025 brought together …

Cities have much to learn from Singapore and Copenhagen on climate adaptation
3 months, 3 weeks ago

Cities have much to learn from Singapore and Copenhagen on climate adaptation

Live Mint  

Raise your hand if you’ve been victimized by bad weather in the last year or so. In 2021, the UK’s Climate Change Risk Assessment said “there is a very small chance" of the UK exceeding 40° Celsius by 2040. The London Climate Resilience Review, commissioned by Mayor Sadiq Khan and chaired by Emma Howard Boyd, former head of the Environment …

Climate myopia: This year’s CoP was a big disappointment but small surprise
3 months, 3 weeks ago

Climate myopia: This year’s CoP was a big disappointment but small surprise

Live Mint  

The 29th Conference of the Parties to Climate Change came to an end on 24 November 2024 with deep disappointment on the outcomes—not just on finance, but on most other aspects of the agenda. With grossly inadequate mitigation of the crisis, the climate finance that developing countries can legitimately asl for will increase exponentially, leading to continued disappointment from a …

COP29: How $300 billion climate funding is an ‘optical illusion’
4 months ago

COP29: How $300 billion climate funding is an ‘optical illusion’

Firstpost  

Much of the funding relies on mobilising private finance, which often translates to loans rather than grants. Nations already grappling with crippling debt burdens face the prospect of trading financial solvency for climate action A demonstrator displays hands that reads "pay up" during a protest for climate finance at the COP29 UN Climate Summit, November 23, 2024, in Baku, Azerbaijan. …

Finance COP fails to offer adequate finance to developing countries for climate action
4 months, 1 week ago

Finance COP fails to offer adequate finance to developing countries for climate action

Live Mint  

New Delhi: After an extension and over two weeks of intense negotiations, the 29th UN climate change conference or COP29 in Baku finally reached a consensus on a new collective quantified goals on climate finance but disappointed developing countries with only $300 billion per year by 2035 as against a required $1.3 trillion. Onus on developed countries The final draft …

Tweak climate finance goals for inclusive carbon market
4 months, 1 week ago

Tweak climate finance goals for inclusive carbon market

Hindustan Times  

As the 29th Conference of Parties to the United Nations Framework Convention on Climate Change progresses, the global spotlight is once again on the importance of climate finance, particularly in sectors like agriculture, forestry, and other land use and in emerging economies that bear a disproportionate burden of climate impacts. For countries like India, where the livelihoods of small and …

As deadline looms, divide over climate pact widens
4 months, 1 week ago

As deadline looms, divide over climate pact widens

Hindustan Times  

Baku: A deep divide over climate finance erupted into the open on Thursday at the UN climate summit COP29, as developed nations and developing nations roundly rejected a new draft proposal that offered two starkly different options for funding climate action, leaving the talks in disarray with barely a day remaining. A controversial proposal to count developing countries’ domestic resources …

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment
4 months, 1 week ago

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It’s like developed countries are saying the dog ate their homework.” open image in gallery Activists demonstrate for climate …

COP29 negotiators seek climate finance deal as deadline looms
Trending News
4 months, 1 week ago

COP29 negotiators seek climate finance deal as deadline looms

Al Jazeera  

Vulnerable nations are seeking $1.3 trillion to deal with damage from climate change and to adapt to that change. With time running down, negotiators at the United Nations’ annual climate talks have returned to the puzzle of finding an agreement to bring far more money for developing countries to adapt than wealthier countries have shown they are willing to pay. …

Money to respond to climate change is key. Here’s how nations are raising it
4 months, 1 week ago

Money to respond to climate change is key. Here’s how nations are raising it

Associated Press  

BAKU, Azerbaijan — Just as a simple lever can move heavy objects, rich nations are hoping another kind of leverage — the financial sort — can help them come up with the money that poorer nations need to cope with climate change. Money could be in the form of loans, grants or private investment Experts put the number needed for …

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?
4 months, 1 week ago

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?

New Indian Express  

Climate cash could be in the form of loans, grants or private investment Experts put the need closer to $1 trillion, while developing nations have said they'll need $1.3 trillion in climate finance. “That's a big lever,” said Melanie Robinson, global climate economics and finance director at World Resources Institute. For developing nations, the talk of loans brings fear of …

India pitches for $1.3 trillion in annual climate support for developing nations
4 months, 2 weeks ago

India pitches for $1.3 trillion in annual climate support for developing nations

Live Mint  

Intervening on behalf of like-minded developing countries, India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal till 2030. Developing countries require up to $1.5 trillion a year for their unique climate needs and net zero transition, according to various estimates. Also Read: COP29 stresses global …

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare
4 months, 2 weeks ago

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare

BBC  

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare Getty Images As countries negotiate a new global goal to raise climate cash, these five charts show why discussions are so fraught. "Developing countries eager to act are facing many obstacles: scant public finance; raging cost of capital; crushing climate disasters; and debt servicing that soaks up funds," …

High-level report calls for $1 trillion boost in climate finance at COP29
4 months, 2 weeks ago

High-level report calls for $1 trillion boost in climate finance at COP29

India Today  

As the COP29 climate summit continues in Baku, a new report highlights an urgent call for climate finance to meet critical global targets. Published by an independent high-level expert group, the report recommends mobilising $1 trillion annually for developing countries by 2030, a move that would help address climate challenges under the Paris Agreement. The group aims to support policy …

Developed countries should walk the talk on climate
4 months, 3 weeks ago

Developed countries should walk the talk on climate

China Daily  

Driven by nations who've already been hit hard by climate change, there's been a growing consensus that global efforts must be intensified to elevate climate ambitions in order to restrict the rise in temperature this century to well below 1.5 C, thus preventing catastrophic irreversibility. They underscore the critical importance of COP29 in Baku, Azerbaijan, where establishing a New Collective …

Developed countries should walk the talk on climate
4 months, 3 weeks ago

Developed countries should walk the talk on climate

China Daily  

Driven by nations who've already been hit hard by climate change, there's been a growing consensus that global efforts must be intensified to elevate climate ambitions in order to restrict the rise in temperature this century to well below 1.5 C, thus preventing catastrophic irreversibility. They underscore the critical importance of COP29 in Baku, Azerbaijan, where establishing a New Collective …

Multilateral banks are key to financing the fight against global warming. Here is how they work
4 months, 3 weeks ago

Multilateral banks are key to financing the fight against global warming. Here is how they work

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “That has forced finance to be ever-more prominent at …

Can $1 trillion in climate finance be achieved amid political hurdles
4 months, 3 weeks ago

Can $1 trillion in climate finance be achieved amid political hurdles

New Indian Express  

CHENNAI: The World Meteorological Organisation has declared that 2024 is on track to be the warmest year on record, which means it will be the first year of more than 1.5 degrees Celsius warming above pre-industrial levels. It is the most consequential of climate summits since the Paris Agreement as the discussions are set to address the New Collective Quantified …

UN report calls for trillion of dollars in climate finance to aid developing countries
4 months, 3 weeks ago

UN report calls for trillion of dollars in climate finance to aid developing countries

Live Mint  

Developing nations will need around $1.1 trillion annually in climate financing by 2025, a figure expected to climb to $1.8 trillion by 2030, according to a new report by the United Nations Conference on Trade and Development. The report outlines a daunting roadmap for climate finance and calls for developed countries to meet escalating financial commitments to support global climate …

Immediate Action Needed: Focus on Cooling and Decentralized Renewable Energy for Climate Adaptation
5 months ago

Immediate Action Needed: Focus on Cooling and Decentralized Renewable Energy for Climate Adaptation

Hindustan Times  

The critical step that needs to be taken in the wake of the mounting climate crisis is to provide resources to communities, especially those that are vulnerable, and equip them to withstand the changing climate. This is where most of the climate plans falter. Financing support for adaptation actions remains alarmingly inadequate. Developing countries that are facing the brunt of …

Asia-Pacific risks growth amid climate crisis: ADB
5 months ago

Asia-Pacific risks growth amid climate crisis: ADB

China Daily  

A view of CBD area in Beijing on June 20, 2023. Rising sea levels and falling labor productivity would slash growth in the Asia-Pacific region, which needs an annual investment of at least $102 billion in the next five years for adaptation measures to help offset the huge economic losses brought by climate change, the Asian Development Bank said on …

Developing Countries Face Greater Climate Finance Risk, Need More Support
5 months, 1 week ago

Developing Countries Face Greater Climate Finance Risk, Need More Support

The Hindu  

Developing countries face a significant risk due to their geographical factors and reliance on sectors like agriculture, which are particularly sensitive to climate change. Despite contributing relatively little to the cumulative emissions that cause climate change, they require external financing for climate action due to their smaller domestic financial systems and higher costs of capital. The New Collective Quantified Goal …

India provided more climate funds than many rich nations; US, UK failed to contribute fair share: Report
6 months, 4 weeks ago

India provided more climate funds than many rich nations; US, UK failed to contribute fair share: Report

India TV News  

New Delhi: India contributed USD 1.28 billion in climate finance through multilateral development banks in 2022, surpassing the contributions of many developed countries, according to a new analysis. India provided USD 1.287 billion in climate finance to other developing countries through MDBs in 2022, a sum larger than what was contributed by some developed countries like Greece, Portugal, Ireland and …

Budget 2024: What is taxonomy for climate finance?
8 months, 1 week ago

Budget 2024: What is taxonomy for climate finance?

The Hindu  

The story so far: The 2024 Union Budget, presented by Finance Minister Nirmala Sitharaman on Tuesday, includes developing a taxonomy for climate finance to enhance the availability of capital for climate adaptation and mitigation. Climate finance taxonomy refers to a set of standardised regulations and guidelines to inform companies and investors on making impactful investments towards environmental conservation and combating …

Climate finance gaps
10 months, 1 week ago

Climate finance gaps

China Daily  

MA XUEJING/CHINA DAILY Since its launch 10 years ago, the Belt and Road Initiative has made remarkable progress across various fields. Therefore, it is critical and urgent to promote international cooperation on climate finance in BRI countries, so as to channel more funds toward climate change adaptation and environmental protection, and enhance these countries' capacity for mitigating and adapting to …

Climate accountability: Disclose more, put checks before financing mega projects
10 months, 2 weeks ago

Climate accountability: Disclose more, put checks before financing mega projects

New Indian Express  

The ‘Draft Disclosure Framework on Climate Related Financial Risks’ released by the RBI in February enjoins financial institutions, such as banks, to provide the public detailed information on how they are addressing risks to their investments arising from the climate crisis. Big-ticket investments by FIs in sectors like infrastructure and energy face direct physical risks from environmental changes like rise …

West needs to bear its climate funding duty
10 months, 3 weeks ago

West needs to bear its climate funding duty

Hindustan Times  

The refusal of the developed nations to shoulder their fair share of responsibility in the climate crisis is baffling, given the window for action to contain warming to 2 degrees Celsius by 2100 is closing fast. At the Cartagena Ad Hoc Work Programme talks — in the run up to the actual negotiations at the Conference of Parties — the …

Private sector holds key to climate finance
1 year ago

Private sector holds key to climate finance

China Daily  

A man sells camels at El Hirka Dhere livestock market in Mogadishu, Somalia, on July 30, 2020. The private sector, government and international organizations have reiterated that Africa needs to attract more private sector finance in order to bridge its climate finance gap. During the Climate Change Global Business Summit, speakers called on multilateral development finance institutions to strengthen their …

Financing climate actions in the ‘race to zero' campaign
1 year, 3 months ago

Financing climate actions in the ‘race to zero' campaign

Hindustan Times  

A critical step in addressing the climate crisis comes in the form of climate finance that enables climate action in the form of adaptation and mitigation efforts. In terms of private climate finance, 5% of total private climate finance raised by developed countries was for mitigation actions in the energy sector during the 2016-2020 period. Developed countries mobilised private climate …

Why Cop28 barely scratches the surface on the cost of climate change
1 year, 3 months ago

Why Cop28 barely scratches the surface on the cost of climate change

The Independent  

When panic-buying hit the UK in March 2020, it was a rare moment: a curious knock-on effect of the emerging Covid pandemic. The rains now are crazy; It is very different to how it was when I was a child.” Robertson is at the Cop28 climate conference in Dubai in his role as lead negotiator for “Loss and Damage” – …

How to adapt to climate change may be secondary at COP28, but it’s key to saving lives, experts say
1 year, 3 months ago

How to adapt to climate change may be secondary at COP28, but it’s key to saving lives, experts say

Associated Press  

DUBAI, United Arab Emirates — As United Nations climate talks enter their second week, negotiators who are largely focused on how to curb climate change have another thing on their plates: how to adapt to the warming that’s already here. “The problem is the fact that adaptation is actually the second long long-term goal of the Paris agreement,” said South …

Raise domestic financing to fund climate action projects: IMF’s Georgieva
1 year, 3 months ago

Raise domestic financing to fund climate action projects: IMF’s Georgieva

Live Mint  

New Delhi: Developing economies need to do more domestically to raise financing and deepen domestic capital markets to participate and invest in climate action, said International Monetary Fund managing director Kristalina Georgieva in an interview held during the climate summit in Dubai. As part of the plan, the IMF will start a new programme with the World Bank on tax, …

Cop28 opens with fund set up for countries hit by worst of climate disasters
1 year, 4 months ago

Cop28 opens with fund set up for countries hit by worst of climate disasters

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Nearly all the world’s nations on Thursday finalized the creation of a fund to help compensate countries struggling to …

Climate funding is in short supply. So some want to rework the financial system
1 year, 4 months ago

Climate funding is in short supply. So some want to rework the financial system

NPR  

Climate funding is in short supply. Enlarge this image toggle caption Ina Fassbender/AFP via Getty Images Ina Fassbender/AFP via Getty Images Developing countries need a lot more money for climate change Industrialized countries like the United States built their wealth producing and using fossil fuels. Sponsor Message "That $100 billion is a very important symbol of trust" between wealthy countries …

Fund to compensate developing nations for climate change is unfinished business at COP28
1 year, 4 months ago

Fund to compensate developing nations for climate change is unfinished business at COP28

Associated Press  

NEW DELHI — Sunil Kumar watched helplessly in July as his home and 14 others were washed away by intense monsoon rains lashing the Indian Himalayas. Developing nations had long sought to address the problem, and finally broke through with an agreement at last year’s annual United Nations climate talks, known as COP27, to create what’s known as a loss …

As climate threats grow, poor countries still aren't getting enough money to prepare
1 year, 4 months ago

As climate threats grow, poor countries still aren't getting enough money to prepare

NPR  

As climate threats grow, poor countries still aren't getting enough money to prepare Enlarge this image toggle caption Fida Hussain/AFP via Getty Images Fida Hussain/AFP via Getty Images The world is facing more extreme weather that scientists say is fueled by human-driven climate change. Sponsor Message The UN estimates the gap between how much money developing countries need to pay …

Stocktaking climate finance — a case of circles in red ink
1 year, 5 months ago

Stocktaking climate finance — a case of circles in red ink

The Hindu  

Climate finance has a crucial role in retaining the trust of the developing countries in future climate change negotiations. Estimating adequate climate finance The developed countries are required in mandatory terms to provide financial resources to developing country parties. Under Article 9 of the Paris Agreement on Climate Change, it is also mandatory for the developed countries to provide in …

Finding funds for climate action risks ending up as a pipe dream
1 year, 6 months ago

Finding funds for climate action risks ending up as a pipe dream

Live Mint  

Low-income countries are in the throes of a liquidity crunch that is not only undermining their economic development but also deepening the global climate crisis. To overcome this dilemma, the African Union’s Nairobi Declaration on Climate Change proposes that countries be allowed to reschedule debts coming due to create fiscal space for ‘green growth’ policies and reforms, financed by MDBs. …

Are climate reparations finally on the way for vulnerable countries?
1 year, 7 months ago

Are climate reparations finally on the way for vulnerable countries?

Al Jazeera  

A ‘significant change in action’ is under way to compensate nations under direct assault from climate chaos, observers say. Climate negotiators representing two dozen countries will hold meetings on Tuesday to iron out details of the United Nations’ “loss and damage” fund, created last year in Sharm el-Sheikh, Egypt, and expected to be presented at COP28 in Dubai in November. …

India's vision for climate justice: COP28 and beyond
1 year, 7 months ago

India's vision for climate justice: COP28 and beyond

Hindustan Times  

As the world confronts the pressing reality of the climate crisis, the need for robust climate financing has never been more urgent. Notably, the establishment of the National Adaptation Fund for Climate Change and the National Clean Energy Fund serve as shining examples of India's commitment to promoting clean energy and supporting climate-resilient infrastructure. The Climate Finance Working Group's estimation …

Data | Climate finance adds another layer of inequity to climate change
1 year, 7 months ago

Data | Climate finance adds another layer of inequity to climate change

The Hindu  

In the last few years, climate justice activists have been campaigning for the world’s economically developed countries to raise their investments in climate adaptation and mitigation, including paying for other countries’ abilities to deal with the effects of climate change. Countries in Sub-Saharan Africa, Latin America, and South Asia have historically contributed the least to global warming; yet, they are …

Finance barriers are hurting Global South’s climate transitions
1 year, 9 months ago

Finance barriers are hurting Global South’s climate transitions

Al Jazeera  

It is more expensive to borrow money for climate action projects in poor countries than in wealthy countries. It is a symptom of a wider problem: the global financial system is stacked against project developers in countries on the front lines of climate change. Last year, we held regional finance forums to showcase more than 100 shovel-ready projects in emerging …

‘Adapting to climate change to cost India ₹85.6 lakh crore by 2030’
1 year, 10 months ago

‘Adapting to climate change to cost India ₹85.6 lakh crore by 2030’

The Hindu  

The cumulative total expenditure for adapting to climate change in India is estimated to reach ₹85.6 lakh crore by 2030, the Reserve Bank of India’s Department of Economic and Policy Research estimated in its Report on Currency & Finance 2022-23. India’s green financing requirement is estimated to be at least 2.5% of GDP annually till 2030 to address the infrastructure …

African nations consider swapping debt to invest in climate action
2 years ago

African nations consider swapping debt to invest in climate action

Firstpost  

Mombasa, Kenya: African countries saddled with debt and ravaged by losses and damages from extreme weather events like cyclones, drought and extreme temperatures have agreed to consider swapping debt to invest in climate action in a meeting of finance ministers in the Ethiopian capital. It was among several green financing alternative models discussed at the ongoing United Nations conference that …

African nations consider swapping debt for climate funding
2 years ago

African nations consider swapping debt for climate funding

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy African countries saddled with debt …

Budget and green growth: significant focus on government investment
2 years, 1 month ago

Budget and green growth: significant focus on government investment

The Hindu  

Arindam Guha As part of its 2022 Nationally Determined Contribution goals, India has committed to a number of ambitious objectives such as reducing GDP emissions intensity by 45% from 2005 levels by 2030, increasing its renewables capacity to 500 GW by 2030 and achieving net zero status by 2070. Some of the key initiatives for achieving these goals are around …

COP27 and the ambiguity about responsibility
2 years, 4 months ago

COP27 and the ambiguity about responsibility

The Hindu  

This year, at COP27 in Egypt, a dizzying array of topics was on the table for discussion — from the more familiar emissions reductions to the more detailed rules to govern carbon markets. And as scientists today are able to attribute these events to climate change, and derivatively, to greenhouse gas emissions, developing countries maintain that developed countries should inherit …

Sunanda K. Datta-Ray | Deal on climate, but hard decisions put off till 2023
2 years, 4 months ago

Sunanda K. Datta-Ray | Deal on climate, but hard decisions put off till 2023

Deccan Chronicle  

Hearing Gianni Infantino, Fifa’s Swiss-born ethnic Italian president, declare “I think for what we Europeans have been doing the last 3,000 years, we should be apologising for the next 3,000 years before starting to give moral lessons to people”, millions of TV watchers worldwide may have wondered if it was the moment of truth, the epiphany that would erase the …

Behind the smokescreen around private climate finance
2 years, 4 months ago

Behind the smokescreen around private climate finance

The Hindu  

Over the last few years, developed countries have insisted upon two points on the issue of climate finance. The OECD 2020 data, however, shows that the mobilisation of private climate finance has underperformed against the expectations of developed countries falling short by 60 percentage points, $13.1 billion in 2020 against $33 billion in the road map. Further, although many developed …

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