Asia needs to spend much more to adapt to climate change and limit its damage, bank study says
2 months, 2 weeks ago

Asia needs to spend much more to adapt to climate change and limit its damage, bank study says

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 Countries in Asia will suffer worse damage from the climate crisis than other regions and are falling far behind in spending on improvements to limit the damage and adapt to changing weather patterns and natural disasters, the Asian Development Bank said in a report released Thursday. The report said financing needs in developing Asian countries to cope with climate change range from $102 billion to $431 billion a year. Most countries in the region have ratified treaties on climate change and presented national plans to cut their carbon emissions, but most also still lack clear road maps to reach “net zero” carbon emissions, the report said. The trends are already “locked in,” and warming will continue for decades, though the full implications of climate “tipping points,” such as warming seas melting polar ice caps, are not fully understood, the report said.

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History of this topic

Climate Change and the New Green Economy: The big questions for 2025
2 weeks, 5 days ago

Climate Change and the New Green Economy: The big questions for 2025

Live Mint  

The summer of 2024 was the hottest on record. More importantly, developing countries are tasked with growing without significantly adding to the global stock of GHG emissions, but the conditions to do so are not nearly supportive enough – the world’s poorest and most climate-vulnerable countries spent twice as much on repaying external debt than what they received as climate …

Developed countries spent more on fossil fuel subsidies in 2023 than new climate finance package
3 weeks, 6 days ago

Developed countries spent more on fossil fuel subsidies in 2023 than new climate finance package

Live Mint  

New Delhi, Dec 19 Developed countries spent USD 378 billion subsidising fossil fuels in 2023, surpassing the USD 300 billion they have collectively committed to provide annually to the developing world by 2035 to tackle climate change, according to the latest data. The data revealed that 23 developed nations -- mandated under the UN climate convention to provide climate finance …

Cities have much to learn from Singapore and Copenhagen on climate adaptation
1 month, 1 week 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 …

Boost Green Capex With 'Climate Deficit' to Reverse India's GDP Slowdown
1 month, 1 week ago

Boost Green Capex With 'Climate Deficit' to Reverse India's GDP Slowdown

The Quint  

However, in terms of social or political outcomes, inflation is not a statistical idea based on indices rising up from a base year but a lived experience called price rise. Developing countries, especially India, saw a grand failure in the inability of developed countries to sufficiently increase the funding to decelerate climate change. While the COP29 attended by delegates from …

Finance COP fails to offer adequate finance to developing countries for climate action
1 month, 3 weeks 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 …

Why is there a row over climate finance?
1 month, 3 weeks ago

Why is there a row over climate finance?

The Hindu  

The story so far: The 29th edition of the Conference of Parties, arguably the most important of the UN’s climate conferences, was scheduled to end on November 22, after 11 days of negotiations, and take a collective step forward in addressing rising carbon emissions. This was seen to be the New Collective Quantified Goal on climate finance which refers to …

Climate-threatened nations stage protest at COP29 over contentious deal
1 month, 3 weeks ago

Climate-threatened nations stage protest at COP29 over contentious deal

The Hindu  

The world’s most climate-imperilled nations stormed out of consultations in protest at the deadlocked UN COP29 conference on Saturday, as simmering tensions over a hard-fought finance deal erupted into the open. An unpublished version of the final text circulating in Baku, and seen by AFP, proposes that rich nations raise to $300 billion a year by 2035 their commitment to …

COP29 negotiators seek climate finance deal as deadline looms
Trending News
1 month, 3 weeks 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
1 month, 3 weeks 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?
1 month, 3 weeks 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 …

China praised for climate financial aid
1 month, 4 weeks ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

China praised for climate financial aid
Trending News
1 month, 4 weeks ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

China praised for climate financial aid
Trending News
1 month, 4 weeks ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

India pitches for $1.3 trillion in annual climate support for developing nations
1 month, 4 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
2 months 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," …

UN climate talks to focus on money to help poor nations cut carbon pollution
2 months ago

UN climate talks to focus on money to help poor nations cut carbon pollution

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. Curbing and coping with climate change's worsening heat, floods, …

Developed countries should walk the talk on climate
2 months 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
2 months 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 …

A shadow ‘financial crisis’ has cost the world $2 trillion
2 months ago

A shadow ‘financial crisis’ has cost the world $2 trillion

CNN  

CNN — Last month, two major storms, Hurricane Helene and Hurricane Milton, caused a total of between $51.5 billion and $81.5 billion of property damage, mostly to Southeastern US states, according to estimates from CoreLogic. The report from the International Chamber of Commerce, which comes as the United Nations Climate Change Conference begins in Azerbaijan this week, estimated that the …

New climate financing goal expected
2 months, 1 week ago

New climate financing goal expected

China Daily  

China will collaborate with other Global South countries at an upcoming conference to push for a new, ambitious climate financing goal from developed nations that can adequately support climate actions in developing countries. Xia especially underscored the pivotal importance of a specific climate financing target from developed countries for developing nations to achieve a successful COP29. A key task for …

Asia-Pacific risks growth amid climate crisis: ADB
2 months, 2 weeks 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 …

Adaptability key to nation's environmental progress
3 months, 3 weeks ago

Adaptability key to nation's environmental progress

China Daily  

Electricians inspect a lake-based photovoltaic array in Chuzhou, Anhui province, last month. SONG WEIXING/FOR CHINA DAILY On the global stage, Lees sighed at the unfavorable developments regarding tackling climate change. As the largest user of coal, China is still contributing enormously to the problem in spite of its immense, successful efforts to limit emissions, he said, adding what China does …

India provided more climate funds than many rich nations; US, UK failed to contribute fair share: Report
4 months, 1 week 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 …

Developed countries should intensify climate actions
5 months, 1 week ago

Developed countries should intensify climate actions

China Daily  

An employee undertakes turbine blade installation at a wind farm in Ruichang, Jiangxi province, last week. Hence, developed countries should continue to provide the developing nations with more economic and technological support to mitigate and adapt to climate change. In 2009, developed countries committed to jointly mobilize $100 billion a year in climate finance by 2020 to boost climate actions …

Developed countries should intensify climate actions
5 months, 1 week ago

Developed countries should intensify climate actions

China Daily  

An employee undertakes turbine blade installation at a wind farm in Ruichang, Jiangxi province, last week. Hence, developed countries should continue to provide the developing nations with more economic and technological support to mitigate and adapt to climate change. In 2009, developed countries committed to jointly mobilize $100 billion a year in climate finance by 2020 to boost climate actions …

Climate change could slash global income by 19%
8 months, 1 week ago

Climate change could slash global income by 19%

New Indian Express  

VIZAG: The global economy cannot avoid a reduction in its income by 2025 irrespective of how it deals with future emissions, a recent study has established. This reduction is six times larger than the costs required to limit global warming to 2°C under the Paris Climate Agreement, the study published in the journal Nature said. But it arises owing to …

New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049
8 months, 4 weeks ago

New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049

Associated Press  

Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said. “Our analysis shows that climate change will cause massive economic damages within the next 25 years …

Countries promise millions for damages from climate change. So how would that work?
1 year, 1 month ago

Countries promise millions for damages from climate change. So how would that work?

NPR  

Countries promise millions for damages from climate change. Enlarge this image toggle caption Spencer Platt/Getty Images Spencer Platt/Getty Images As climate change negotiations kicked off in Dubai, countries reached a historic agreement for a new fund to help developing countries which bear the brunt of climate impacts. More than $400 million was announced, with the largest pledges coming from Germany …

Climate change already reducing global GDP: report
1 year, 1 month ago

Climate change already reducing global GDP: report

The Hindu  

Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. The report by the University of Delaware estimated that impacts from human-caused climate change cut 6.3% from global economic output last year, when weighted across populations. "The world is trillions of dollars poorer …

Average Earner in Developed Nations Account for Higher Emission Than Richest 10% in Developing Regions
1 year, 1 month ago

Average Earner in Developed Nations Account for Higher Emission Than Richest 10% in Developing Regions

News 18  

With the biggest annual climate change conference, COP28, set to begin in the UAE this week, a new study has put the focus back on climate justice highlighting the stark emission divide between the developed and developing countries in contributing to climate change. The independent study led by New Delhi-based Council on Energy, Environment and Water documents how the carbon …

Fund to compensate developing nations for climate change is unfinished business at COP28
1 year, 1 month 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, 2 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 …

Are climate reparations finally on the way for vulnerable countries?
1 year, 4 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. …

Aiming for sustainable development
1 year, 4 months ago

Aiming for sustainable development

China Daily  

WANG XIAOYING/CHINA DAILY The extreme weather events across the world are just some of the consequences of climate change. In 2020, the UN Intergovernmental Panel on Climate Change, in its Sixth Assessment Report, painted a grim picture of the disastrous consequences of rising global temperatures, and urged UN member states to limit global temperature rise to below 1.5 C. Since …

Aiming for sustainable development
1 year, 4 months ago

Aiming for sustainable development

China Daily  

WANG XIAOYING/CHINA DAILY The extreme weather events across the world are just some of the consequences of climate change. In 2020, the UN Intergovernmental Panel on Climate Change, in its Sixth Assessment Report, painted a grim picture of the disastrous consequences of rising global temperatures, and urged UN member states to limit global temperature rise to below 1.5 C. Since …

Explained | Here’s how Asia fared in 2022 in terms of climate and extreme events
1 year, 5 months ago

Explained | Here’s how Asia fared in 2022 in terms of climate and extreme events

The Hindu  

The story so far: Drought, floods, and high temperatures were the critical disasters that plagued Asiain 2022, causing extensive damage to life and property. Central Asia, the Yangtze River Basin and the Huaihe River Basin in China, southwest and northwest Asia, and areas along the Arctic coast also recorded precipitation below normal. Siberia, northeast Asia, central India, India’s Western Ghats, …

Asia-Pacific needs disaster warning systems to counter rising climate change risks, report says
1 year, 5 months ago

Asia-Pacific needs disaster warning systems to counter rising climate change risks, report says

Associated Press  

BANGKOK — Countries in the Asia-Pacific region need to drastically increase their investments in disaster warning systems and other tools to counter rising risks from climate change, a United Nations report said Tuesday. She noted that countries that have put early warning systems in place, such as India and Bangladesh, which faces severe threats from devastating tropical storms, can save …

Climate change: Which countries will foot the bill?
1 year, 5 months ago

Climate change: Which countries will foot the bill?

The Hindu  

Record-breaking heat in China. Climate finance refers to money that wealthy countries pay toward helping poorer nations reduce CO2 emissions and adapt to a hotter, harsher world. In a meeting with Kerry on Tuesday, Chinese Premier Li Qiang stressed that developed countries should deliver their unfulfilled climate finance commitments and take the lead in cutting emissions, according to Li's office. …

What makes South Asia so vulnerable to climate change?
1 year, 6 months ago

What makes South Asia so vulnerable to climate change?

Al Jazeera  

Extreme weather events in the world’s most populous and one of the poorest sub regions susceptible to food insecurity, displacement and diseases. Food insecurity For thousands of years, South Asia was seen as the world’s “granary” for agriculture – a region with weather patterns well-suited for growing crops, Pakistan-based climate scientist Fahad Saeed told Al Jazeera. Environmentalist Anjal Prakash said …

Finance barriers are hurting Global South’s climate transitions
1 year, 6 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 …

Regional approach to climate crisis preparedness in Asia and the Pacific
1 year, 7 months ago

Regional approach to climate crisis preparedness in Asia and the Pacific

Hindustan Times  

Asia and the Pacific region has several climate vulnerable communities ranging from pacific communities, which face sudden and slow-onset disasters, rainfall variations and El Niño and La Niña climate patterns to Himalayan communities, which encounter extreme weather events like flash floods, landslides and debris flows worsened by climate crisis and depleting Himalayan glaciers. As the United Nations Environment Programme’s flagship …

Rich countries like US, UK and Germany owe staggering amounts of ‘climate reparations’, study reveals
1 year, 7 months ago

Rich countries like US, UK and Germany owe staggering amounts of ‘climate reparations’, study reveals

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. The study published in the scientific journal Nature Sustainability finds that countries in the global north, including the US …

Over-emitting nations owe India $1,446 per capita until 2050 as climate compensation: study
1 year, 7 months ago

Over-emitting nations owe India $1,446 per capita until 2050 as climate compensation: study

The Hindu  

Economically developed countries such as the U.S. and Germany are responsible for 90% of the excessive carbon dioxide emissions and could be liable to pay a total of $170 trillion as compensation to low-emitters like India to ensure climate change targets are met by 2050, says a a new study. `Net zero’ by 2050 The researchers, from the University of …

Asia-Pacific’s climate change challenge: Can it become cleaner and greener?
1 year, 7 months ago

Asia-Pacific’s climate change challenge: Can it become cleaner and greener?

Hindustan Times  

The Asia Pacific region is experiencing a temperature rise that is causing significant environmental and social impacts. Efforts to combat climate change in the Asia Pacific region include substantial investments in renewable energy infrastructure like solar and wind farms. Despite the current efforts to mitigate climate change and domestic pollution in the Asia Pacific region, additional actions are necessary to …

South Asia’s climate migration is a ticking bomb
1 year, 7 months ago

South Asia’s climate migration is a ticking bomb

The Hindu  

June 5 marked the 50th anniversary of World Environment Day which was started by the United Nations in June 1972 at the Stockholm Conference on the Human Environment. Area of climate displacement hotspots South Asia houses the world’s most impacted climate displacement hotspots, including the Hindu Kush-Himalaya region, coastal areas, island nations, and deltaic and semi-arid regions. In South Asia, …

Pacific Island leaders say rich countries are not doing enough to control climate change
1 year, 7 months ago

Pacific Island leaders say rich countries are not doing enough to control climate change

The Hindu  

Pacific Island leaders are criticising rich countries for not doing enough to control climate change despite being responsible for much of the problem, and for profiting from loans provided to vulnerable nations to mitigate the effects. Prime Minister Mark Brown of the Cook Islands said the finance model for combatting climate change — giving out loans to reduce the impact …

Economists urge China to think 'beyond GDP' to head off climate risks
1 year, 10 months ago

Economists urge China to think 'beyond GDP' to head off climate risks

India Today  

A team of influential economists has urged China to adopt a new development model based on "wellbeing" rather than GDP growth in order to fulfil its 2060 net-zero emissions goals and head off the mounting threats of climate change. In a report published on Thursday, the team - which includes two former chief economists of the World Bank - also …

Cost-of-living crisis overshadows ‘unavoidable’ climate action
2 years ago

Cost-of-living crisis overshadows ‘unavoidable’ climate action

Al Jazeera  

Rising cost of living, energy and food supply crunches, and heavy national debt threaten to thwart the collective will needed to address the climate crisis, new report says. Climate change is the global economy’s biggest long-term challenge but one the world is least prepared to tackle because of short-term problems led by a cost-of-living crisis, the World Economic Forum said …

Can poor countries afford to go green?
2 years, 1 month ago

Can poor countries afford to go green?

The Hindu  

The 27th United Nations Climate Change Conference concluded on November 20 in Sharm el-Sheikh Egypt. Nearly 200 countries pledged to set up a ‘loss and damage fund’ to help vulnerable countries affected by climate change. How can poor countries weigh the cost of climate change against the economic cost of cutting down on fossil fuel use? COP27 | India hails …

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