Center for Global Development’s Post

Rich countries finally met their goal to deliver $100 billion in climate finance to poorer countries, a target that has been frequently cited as evidence of rich countries’ indifference, inaction, and lack of ambition on climate: https://on.ft.com/44ZTT4Y

Climate finance is as well a matter of justice - with economic benefits by avoided climate damages. The Global South must play a big role, while co-financing must be provided by the Global North.

As the world economy transitions from high carbon to low carbon, the largest global investment in history is underway. In this episode of The Sustainability Story, host Deborah Kidd, CFA, talks climate bonds, transition, and policy with Sean Kidney, CEO of Climate Bonds Initiative, an international NGO working to mobilize global capital for climate action. Listen here: https://ow.ly/qrKt50RsmjA

Pay now to help poorer countries cope with climate change or pay more later, negotiators have been warned as experts say poor states need at least $1 trillion per year by the end of the decade to move to greener energy and protect against extreme weather.

What is a Nationaly Determined Contributions NDCs? How is it related to the Paris Agreement? The Paris Agreement empowers countrys to limit the climate to within a global average temperature increase to as close to 1.5 deg as possible .." (to pre industrial measurement. "...to strengthen climate resistance and ensure financial flows are consistent with these goals." The Paris Agreement laid the foundation for the countries to collaborate together to build a better world. NDC's communicate efforts of each country. Each country puts forth their most ambitions contributions that their national circumstances allow, they include targets policies and measure looking at finance, technology, capacity building to enable ambitious climate options. Countries communicate new or updated NDCs every 5 years, starting in 2020. In 2018 guidance was provided to provide #clarity #transparancy #understanding of NDCs, goal is to be ambitious towards reaching the objectives of the Paris Agreement. Communicated NDCs are recorded in registery maintained at UN Climate Change. (Paraphrased see video for full description of NDCs) https://lnkd.in/gwvFuik5 Website UNFCCC https://unfccc.int/NDCREG UNFCCC Nationally Determined Contributions Registery (Registered Countries): https://unfccc.int/NDCREG

The Potsdam Institute for Climate Impact Research has estimated that the annual cost of rising #temperatures, heavier #rainfall, and more frequent #extremeweather will reach $38 trillion by 2049 under a medium #emissions scenario.

Trust and Climate Change Can we have robust and fair climate action and adaptation pathways without building enough trust in the stakeholders? Edelman Trust Institute's new research aims to understand 'Trust' in different aspects of the climate change debate. The report finds that optimism is the key to action and hinges on trust. Key highlights are as follows: ➡ People are losing trust in institutions to do what is correct on climate change. Only 49 percent trust businesses to do what is correct on climate change with all institutions seeing declines in trust. ➡ 3 in 4 are worried about climate change, and the majority are pessimistic about solutions. ➡ The report finds climate policies are out of place due to energy and economic growth priorities. On the other hand, the developing countries are concerned about fairness in the space for climate financing. Read the entire report here: https://lnkd.in/dp-Gagri #climatechange #trust #institutions #climateeducation

#climatechange, #businesscase EDITORs CHOICE - The damages of Climate Change are six times larger than the mitigation costs that are needed to limit warming to 2C https://lnkd.in/dgsY8h4B

The 2009 target of 100 billion was barely reached 2022. (https://lnkd.in/dWPrvkwW) The floods in Spain at the beginning of the month alone caused almost $20 billion in damage.  (https://lnkd.in/dwXxtr-G) Unfortunately, even these and similar events are not enough to mobilize developed countries. "The longer our home remains aflame, the harder and more expensive it will be to extinguish the fire and repair the damage" (https://lnkd.in/dKNWxB3Q) #climate #finance #costofinaction

Asia and the Pacific is central to global climate change efforts. By establishing robust finance frameworks, embracing transition finance, and supporting the development of carbon markets, the region can mobilize private finance and empower climate action. Learn more: https://ow.ly/vVNa50U84oP #SEAEDSforGrowth #COP29