Albert Park’s Post

Warren Evans, climate envoy at the Asian Development Bank (ADB), talked to CNBC International about the bank's priorities, and revealed how the institution is thinking about driving private capital into climate adaptation and resilience. Here's the key quote 👇 "One of the keys is to increase the amount of private sector capital going into that. And just as an example, on the mitigation side it's fairly easy to identify revenue streams from investments in renewable energy for example. So that's relatively easier to get private capital into those investments. Much more difficult is the adaptation side. And one of the areas we're focused on now is the use of what we call nature-based solutions, investing in natural capital to actually build resilience, to sequester carbon, and to generate jobs and economic growth and improve biodiversity across the region. So these are win-win-win-win types of investments and we're really scaling that up. When we look at those kinds of investments the opportunities for revenue streams for the private sector are emerging in a very major way." #climaterisk #adaptation #resilience #climatechange #climatefinance https://lnkd.in/ekcRwYet

Great to hear David Lammy speaking today about his commitment to tackling the climate crisis. It is heartening to hear government talking about: - the challenges faced by the global south in funding energy transition; - the challenge presented by the high cost of capital in emerging markets; - unlocking global finance on a much larger scale than currently; - the opportunity to help emerging economies leapfrog fossil fuels and roll out renewable energy; and - recognising the fact that Africa receives only 3% of climate finance flows despite being at the forefront of the impacts of climate change. Energise Africa looks forward to working with the Global Energy Alliance that David and his team bring together to address these challenges. https://lnkd.in/ej-amiSq

The inagural Asia Pacific Climate Report 2024 by ADB is out and as per its findings climate change will reduce gross domestic product in the region by 17% by 2070 under high emission scenario. Impacts on Asia Pacific region would be more than global expected trends. Though concern about climate change is high as well as ambition to act is high it needs more financial viable support to move forward. Continous assessment of climate adaptation and its financial aspects needs more focus. Private sector participation in climate adaptation is more required along with public financing, its crucial to rope in private playes for climate actions. #Learn4Climate #AsiaPacific #ClimateActions #UNSSCforclimateactions #PACCDA2021 #PACCDA2022 #SPSD2021

🌍 South Africa's $9.3 billion climate finance pact on the line. The delayed closure of key coal-fired plants could impact our energy future and global commitments. What do you think is the best path forward for balancing energy needs and environmental goals? Share your thoughts below! 🌱💡 #ClimateAction #EnergyTransition. Full article link in comment

https://lnkd.in/dgrKNatJ Is China a ‘Developing’ Country? That’s the Trillion-Dollar Question at U.N. Climate Talks Western powers want China, Saudi Arabia and other wealthy countries to join climate-finance pledge for poorer nations By Matthew Dalton Nov. 21, 2024 9:00 am ET BAKU, Azerbaijan—A few dozen miles from the United Nations climate conference here, a company controlled by the United Arab Emirates recently opened the region’s largest solar-power park. Nearby, a Saudi state-backed company is building a large wind farm. Both projects break the mold of the Paris climate accord: They are funded by countries that are designated as developing nations, entitling them, in theory, to receive climate financing from developed nations. But, in practice, the oil-rich Gulf nations are increasingly investing in green projects in poorer countries—not mainly as a form of development aid but to make money.

National Adaptation Plans are the difference between life and death for billions of people. Between strong supply chains or more climate disruption and inflation. And let’s talk about the huge transformational power: more opportunity, equality and prosperity for all. Every country can and must submit their National Adaptation Plans by 2025. 👉 https://bit.ly/3CHkJVe

Crystal clear, opinionated panel on « Navigating Geopolitical Dynamics: Implications for the Energy » at the World Economic Forum’s #SpecialMeeting24 in Riyadh. Two take-aways: - energy transition pathways will be country- and, most likely, entity-specific, as highlighted in S&P Global’s recent #LookForward on the Multidimensional Transition; see https://lnkd.in/eMvZGWUj; - the need for private capital to complement public spending for climate adaption and mitigation initiatives is imperative, and will require tight, global cooperation; check out S&P Global Ratings’ webpage on the #ClimateFinanceGap at https://lnkd.in/eY-W7VYg.

Climate change is projected to have significant, adverse effects on human lives, property and economic growth in China. Acknowledging this, Beijing updated its Climate Change Adaptation Strategy in 2022. But as the Chinese Communist Party has become hypersensitive to national security threats, climate change is now perceived as just one of the dangers to the […] # The post China’s lead in green and dirty energy a hurdle for EU climate agenda first appeared on East Asia Forum.

Reflecting on the dynamic discussions at the 5th Africa Climate Talks, it's evident that Africa is at the forefront of shaping progressive climate strategies. Key points included assessing Global Stock Take outcomes, leveraging new NDCs for impactful climate action, analyzing financing trends, and emphasizing just transitions in delivering NDC 3.0. These insights pave the way for a resilient and sustainable future for Africa and the planet. #ARFSD10 #EnergyAccess #ClimateTalks #ClimateAction #NDCs #Africa Read more here: https://lnkd.in/dpHu4_8K

South Africa's path to climate resilience was underscored by President Cyril Ramaphosa at the Climate Resilience Symposium 2024. With a focus on economic challenges and a just energy transition, he stressed the need for collaborative efforts across all sectors. Our goal: net zero emissions by 2050. How can businesses and communities work together to achieve this vision? #climatechange #justtransition #sustainabledevelopment #southafrica