Climate Change Finance

Caribbean Confidence High Post COP28, But Vigilant Follow-Through on Key Deals Needed

Buoyed by USD 800 million in pledges to the Loss and Damage Fund and an unprecedented agreement to transition away from fossil fuels, but grounded in the reality of the work ahead to meet key climate targets, the Caribbean will need to maintain its focus on sustainable agriculture, renewable energy, and climate resilience.

‘Imperfect COP28’ Gives Direction For Managed, Equitable Move From Fossil Fuels

While the outcomes of COP28 are being hotly debated in both the scientific and social justice arenas, the climate conference has taken an unprecedented step forward toward a just transition, says Yamide Dagnet, Director for Climate Justice at the Open Society Foundations.

COP28: Deal to ‘Transition Away’ From Fossil Fuels Agreed

It was an extraordinary COP Summit in a year characterized by record-breaking temperatures combined with El Niño, producing a climatic carnage in Africa—deaths from fatal floods in the Democratic Republic of the Congo, Kenya, and Libya, where floods wiped out a quarter of a city. Deadly cyclones in Malawi, Madagascar, Mauritius, Mozambique, and Zimbabwe; a severe drought in Kenya, Niger, Somalia, Ethiopia, Mauritania, and Djibouti; and a months-long winter heatwave in southern African countries—the need for COP28 to deliver the highest ambition on all items.

What Is the Cost of Phasing Out Fossil Fuels in Latin America?

One of the most heated debates at the annual climate summit coming to a conclusion in this United Arab Emirates city revolved around the phrasing of the final declaration, regarding the "phase-out" or "phase-down" of fossil fuels within a given time frame.

‘Stop Wars and Step Up ‘Measly’ Contributions’ to Climate Finance—Jeffrey D. Sachs

The United State's contribution to the Loss and Damage Fund equals nine minutes of Pentagon spending, says Jeffrey D. Sachs, a world-renowned economist, bestselling author, innovative educator, and global leader in sustainable development.

Finance at COP28: After the Euphoria, Come Questions Galore

On November 30, the first day of COP28, the much-awaited Loss and Damage Fund—a landmark decision to compensate the world’s most climate-affected and climate-vulnerable people—was declared operational. Announcing the decision, COP28 President Dr Sultan Al Jaber said, ‘the fact that we have been able to achieve such a significant milestone on the first day of this COP is unprecedented. This is historic.”

It’s Time To Align Climate Finance and Social Justice, Says Youth Climate Activist

During his childhood, Joshua Amponsem spent a lot of time in his dry rural community collecting water from the streams. “It was normal,” the co-director of the Youth Climate Justice Fund says in an interview on the sidelines of COP28. “We didn’t talk about climate change.”

Africa’s Negotiators Urged to Leverage on African Science at COP28 High Table

African scientists and researchers are concerned that the data shows that the continent is being cornered by the spiraling effects of climate change, that the real impact of climate devastation is yet to unfold, and that the region is on the cusp of more severe and catastrophic consequences.

Climate Justice is the Responsibility of the Wealthier Nations, Says Bangladesh Climate Envoy

Wealthier nations must deliver the finances so developing countries can adapt—the time for excuses is over, says Saber Hossain Chowdhury, Bangladesh's Special Envoy for Climate Change in the Prime Minister's Office.

Farm to Fork: COP28 Provides RoadMap to Fix Africa’s Broken Food Systems – IFAD

In the absence of sufficient urgency to curb greenhouse gas emissions, it is becoming too hot to farm in Africa. Confronted by extreme, intense, and frequent climate events such as record-breaking prolonged dry spells, current agriculture and farming systems are ill equipped to adapt to or alleviate climate change.

Greening Education: Education Paying Highest Cost for Ongoing Climate Crisis

It is a global catastrophe of astounding proportions that millions of children are on the run today, forcibly displaced from their homes. As conflict and climate change increasingly become the most pressing challenges facing the world now, the number of displaced children has doubled in the last decade alone, reaching a record high of 43.3 million children.

Renewable Commitments at COP28 Pose Stiffer Energy Challenges for Latin America

One of the world's largest solar power plants, the Mohammed bin Rashid al Maktoum Park, captures solar rays in the south of this United Arab Emirates city, with an installed capacity of 1,527 megawatts (Mw) to supply electricity to some 300,000 homes in the Arab nation's economic capital.

Why Climate Justice and Global Financial Reform Are Inseparable

An award-winning international development expert and a climate justice expert have called for a rethink of the global financial system that would bring reparatory justice to small, climate-vulnerable nations while offering concessionary development financing to the countries most in need of assistance. Hannah Ryder, the Chief Executive Officer of international development consultancy Development Reimagined, and Yamide Dagnet, Director of Climate Justice at the Open Society Foundations, for a side event on the margins of the Dubai Climate Talks on December 7.

COP28 Hits: Key Wins as Africa-Focused Pledges, Deals Announced

A record-breaking drought is unfolding in the Horn of Africa, where millions of people are trapped in the world’s worst acute food insecurity emergency. Food insecurity and malnutrition in West and Central Africa are on track to reach a 10-year high as coastal countries edge even closer to the debilitating effects of climate change.

Emerging Climate Finance Infrastructure to Match Africa’s Green Bankable Solutions

Although long profiled as the face of climate change, a high-risk continent with a pipeline of unbankable green projects, there are areas where Africa is leading the world. The 1987 accidental discovery of the first deposit of natural hydrogen during a water drilling campaign in Bourakebougou village, Mali, is today proving that Africa can export viable green solutions.

Taking Charge Against Plastic Pollution in India

Aditi Agarwal, a brilliant computer science engineer and Gold Medalist, once thrived in the tech world, contributing to innovations at Microsoft. However, she felt a calling to address real-world challenges, particularly those related to carbon emissions and plastic pollution. In pursuit of a nobler cause, she joined a company called Go Rewise, a youth-led initiative in India dedicated to recycling PET bottles through a circular economy approach.

Ten African Countries to Benefit From USD 100 Million Released by Green Climate Fund

The Green Climate Fund (GCF) has announced the release of USD 100 million at the ongoing United Nations Framework Convention on Climate Change (UNFCCC) 28th Conference of Parties (COP 28) in Dubai, UAE, to support 10 African countries in adapting food loss reduction solutions.

Pacific Leaders Announce Largest Conservation Effort in History

Pacific people live at the nexus of oceans, climate, and food systems, and the interaction of climate and ocean is raising sea temperatures and threatening habitats and resources vital to the region’s sustenance, Palau’s President Surangel Whipps, Jr., said at the launch of an effort to protect and rejuvenate the region's ecosystems and empower communities through to the year 2050—in what is considered to be the biggest single conservation effort in history—Unlocking Blue Pacific Prosperity.

Human Rights Crucial as Wealthy Nations Reap Energy Transition Benefits

As the world converges for COP 28, the urgency of addressing climate change has never been more palpable. In an exclusive interview with IPS, Yamide Dagnet, the Director for Climate Justice at Open Society Foundations, delves into the intricate details of this pivotal conference—from the unprecedented start to key challenges and opportunities in climate finance. She offers a comprehensive and nuanced perspective on global climate discourse.

Why is There Funding for War But Never for Climate Finance, Ask Feminists

The Feminist Green New Deal Coalition has highlighted feminist climate solutions and shared feminist policies and frameworks that are advancing just climate policies at the United Nations Framework Convention on Climate Change (UNFCCC) 27th session of the Conference of Parties (COP28) in Dubai. US-based Feminist Green New Deal Coalition shared at a press conference that to truly address the root causes, as well as the scope and scale of the climate crisis, feminist approaches and principles are necessary for a cross-cutting approach that combats historical oppression and uplifts the leadership of marginalized groups.

Climate Change Not Just Another Issue in Your Inbox, Leaders told

United Nations Secretary-General António Guterres said world leaders needed to urgently commit to three strategies: cut emissions, accelerate a just, equitable transition to renewables, and to climate justice. "The science is clear: The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. Not reduce. Not abate. Phaseout—with a clear timeframe aligned with 1.5 degrees," he said at the opening session of COP 28 in Dubai.

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