Sitharaman said India has fulfilled all its commitments made at the COP21 climate change conference using its own funds and that the country has been moving towards the path of adopting renewable energy. Union finance minister Nirmala Sitharaman on Tuesday said developed countries should talk less and cooperate more on climate change goals as she […]
Joint EIB and European University Institute conference to explore ways to scale up climate finance
Leading experts from finance, industry, government and civil society will convene in Luxembourg Themes include the energy transition, innovation and how to make the United Nations COP27 climate conference a success Conference takes place on 9 June at 14.00 (CET) in hybrid format On 9 June 2022, the European Investment Bank (EIB), together with the EIB […]
Current pace and scale of climate finance and technology support from developed countries not match the global aspiration to combat climate change – EQ Mag Pro
Multilateralism and its rules based order should be honoured by all Reiterating India’s commitments to the ambitious targets announced by Prime Minister Shri Narendra Modi in the form of five nectar elements “Panchamrit” including the ambitious target of 500 GW of non-fossil energy at the COP 26 summit held in Glasgow in November 2021, Minister […]
MDBs Pledged to Align Financial Flows with the Paris Agreement. They’re Not There Yet – EQ Mag Pro
Two years after the 2015 Paris Agreement, the world’s multilateral development banks (MDBs) committed to align their financial flows with the landmark climate pact’s goals. Now, four years later, it’s clear that as a group, the MDBs are still a long way away from realizing their commitment throughout their portfolios. While MDBs have focused on […]
RELEASE: Progress lagging across all sectors to limit warming to 1.5 C, but rapid change is possible, finds new report – EQ Mag Pro
To achieve the rapid, far-reaching transformations required to address the climate crisis, public and private climate finance must increase thirteen times faster. WASHINGTON : To keep the window open to achieve the Paris Agreement’s goal to limit global warming to 1.5°C, decision-makers across all corners of society need to accelerate transformations toward a net-zero carbon […]
Promises of climate finance, low-cost tech transfer to developing nations must be fulfilled: India – EQ Mag Pro
New Delhi : India on Friday said the promises of climate finance and low-cost technology transfer from developed to developing nations must be fulfilled without delay, and stressed that combating climate change is a shared global challenge. Speaking at the Major Economies Forum (MEF) on Energy and Climate, convened virtually by US President Joe Biden, […]
The Good, the Bad and the Urgent: MDB Climate Finance in 2020
Multilateral development banks (MDBs) play an important role in financing developing countries’ efforts to reduce emissions and protect against the effects of climate change, and 2020 was a critical waypoint for MDB climate finance. For one, it marked the due date for the climate finance targets many MDBs set in 2015. 2020 was also the […]
Canada, Germany to Lead Roadmap in Mobilizing Climate Finance
The countries were clear that COP26 needs to deliver actions, not just words. Many highlighted the importance of ending coal power, coal financing and fossil fuel subsidies. Climate ministers have taken a step forward towards a successful UN climate summit named COP26, as a constructive meeting in London concluded with countries, including India, coming closer […]
MDBs Climate Finance Hit $66 Billion in 2020, Joint Report Shows
MANILA, PHILIPPINES : Climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, according to the 2020 Joint Report on Multilateral Development Banks’ Climate Finance, published today. Of this, 58%—or $38 billion—was committed to low- and middle-income economies. The total climate cofinance […]
STATEMENT: G7 Leaders Agree to Enhance Climate Action But Leave Developing Countries Without Adequate Climate Finance
WASHINGTON : G7 leaders met in the U.K. over the weekend, where they discussed a broad agenda including next steps for climate action. Together, they agreed to reach net zero emissions no later than 2050 and to halve their collective emissions by 2030. These and other commitments were noted in a new Communique. There were […]