Climate Links:
funding
Offshore oil is about to surge
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Spending on new offshore oil projects over the next two years is projected to soar to levels not seen in a decade. The revival comes amid increasingly dire warnings about global warming.
A Core Question at COP27: Who Will Pay for Climate Change?
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HSBC to end funding for new oil and gas fields
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HSBC has announced it will stop financing new oil and gas fields, as part of its efforts to drive down global greenhouse gas emissions.
Nations Must Increase Funding to Cope With Climate Shocks, U.N. Warns
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Failing to help developing nations brace for disruption will lead to increased conflict and widespread suffering, the United Nations wrote in a new report.
Switzerland Is Paying Poorer Nations to Cut Emissions on Its Behalf
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The agreements raise concerns that other countries will follow suit, delaying more difficult cuts of greenhouse gas emissions in wealthier nations.
Amount of finance committed to achieving 1.5°C now at scale needed to deliver the transition
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Capital committed to net zero now at over $130 trillion, up from $5 trillion when the UK and Italy assumed COP26 Presidency
The Great Green Investment Investigation
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European investors are pouring trillions into promises of green growth. Where does that money end up?
How Belize Cut Its Debt by Fighting Global Warming
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Developing nations are reducing their debt by pledging to protect their resources in financial deals that could give them a bigger role in the fight against climate change.
After Decades of Resistance, Rich Countries Offer Direct Climate Aid
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Several European leaders at COP27 announced funds to help poor nations recover from loss and damage caused by climate change. The United States was silent.
The Hidden Financial Pipelines Supporting New Coal
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The continued expansion of global coal infrastructure and new coal projects is one of the biggest threats facing humanity. One-third of the world’s carbon emissions come from burning coal, making it the world’s single largest contributor to climate change. Coal also contributes to toxic air and water pollution, which kills millions of people each year. The latest IPCC report unequivocally stated that no new coal facilities can be added to the existing global fleet to avoid the worst impacts of climate change. Additionally, the International Energy Agency’s Net Zero by 2050 report advised that unabated coal use for electricity must end in advanced economies by 2030 and globally by 2040. While significant progress has been made to phase out the global coal fleet, there is much work to be done to ensure the world gets on track to accelerate the transition away from coal to renewable energy, and achieve a Paris-aligned pathway. Ending coal funding is the key to stopping new coal, because without funding, the coal industry will cease to operate. With coal remaining a major part of the world’s electricity grid, it is critical to uncover how funding flows to coal infrastructure and identify solutions to curb coal’s growth.
Fossil fuel companies donated $700m to US universities over 10 years
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Funding at 27 universities can shift not just research agendas, but also policy in the direction the industry prefers, report says
EIT Climate-KIC
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EIT Climate-KIC is a Knowledge and Innovation Community (KIC), working to accelerate the transition to a zero-carbon, climate-resilient society.
In a First, Rich Countries Agree to Pay for Climate Damages in Poor Nations
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After 30 years of deadlock, a new U.N. climate agreement aims to pay developing countries for loss and damage caused by global warming. But huge questions remain about how it would work.
How China, the world’s top polluter, avoids paying for climate damage
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United Nations still considers China, now the world’s second-largest economy and biggest annual polluter, a developing country
Climate Majority Project
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Harnessing shareholder power to drive climate responsibility
Explainer: How can climate finance be increased from ‘billions to trillions’?
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From the moment in the early 1990s when nations began grappling with the threat posed by climate change, money has been at the heart of discussions.
U.N. Climate Talks End With a Deal to Pay Poor Nations for Damage
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Nations reached a landmark deal to compensate developing nations for climate harm. But some leaders said the summit didn’t go far enough in addressing the root causes of global warming.
MAKING FINANCE WORK FOR THE CLIMATE
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A financial sector that supports the transition to sustainable societies that preserve ecosystems and satisfy people’s basic needs.
Here’s Where the U.S. Is Testing a New Response to Rising Seas
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Native American tribes are competing for the first federal grants designed to help move communities away from high water and other dangers posed by climate change.
The U.S. has a plan to raise cash for developing nations. Some are skeptical.
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John Kerry, the country’s climate envoy, was expected to announce the carbon offset plan on Wednesday. Payments from companies would go to countries struggling to adopt renewable energy.
A ‘Rocking Chair Rebellion’: Seniors Call On Banks to Dump Big Oil
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Older climate activists gathered in cities around the country for a day of action targeting banks that finance fossil fuel projects.
After Decades of Resistance, Rich Countries Offer Direct Climate Aid
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Several European leaders at COP27 announced funds to help poor nations recover from loss and damage caused by climate change. The United States was silent.
How Environmentally Conscious Investing Became a Target of Conservatives
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The business world has been pulled into partisan politics, with Republicans bringing their battle against socially conscious investing to Congress.
Who Pays the Bill for Climate Change?
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A plan led by Barbados could remake the way the world of finance deals with the climate crisis.
How to Hand Out Billions in Climate Subsidies? Very Carefully.
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John Podesta, the White House aide overseeing new tax credits, said rules were expected to be in place within months. Avoiding waste and fraud is a priority.
Climate Change Is Threatening Hawaii’s Coral Reefs. So They Called the Insurance Guy.
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If worsening coastal storms damage the reefs, the Nature Conservancy will get a payout and use the money to repair the coral — work that state officials can’t afford to do.
Poor Countries Need Climate Funding. These Plans Could Unlock Trillions.
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As global warming delivers cascading weather disasters, leaders at U.N. climate talks in Egypt are increasingly calling for changes to a system that traps developing nations in debt.
UN sees climate targets a long way off
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According to UN calculations, the world is still a long way from achieving the Paris climate targets. Ahead of the next world climate conference in Egypt, there are now discussions about compensation for countries that have been particularly affected.
Silicon Valley Bank Collapse Threatens Climate Start-Ups
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The bank had relationships with more than 1,500 companies working on technologies aimed at curbing global warming.