It’s a crucial time for the World Bank, with growing calls for reform and sky-high expectations of what one leader needs to do. A former World Bank official explains the challenges ahead.
Russia tried to weaponize energy to keep European nations from opposing its war in Ukraine, but the real pain from Putin’s actions and Western sanctions has been felt far from Europe.
We can be much better at exploiting finance and economics to tackle climate change.
As the costs of disasters climb, working out who will finance climate adaptation has become increasingly urgent for developing nations.
The big news of COP27 was agreement to establish a fund for ‘loss and damage’. But many lamented the summit’s overall outcome, saying it falls short of a sufficient response to the climate crisis.
When it comes to loss and damage, COP27 negotiations seem likely to reach a dead end. But as we enter the final days of the summit, anything can happen.
Developed nations threaten to consume more than their fair share of Earth’s dwindling carbon budget.
Cities, which account for 70% of emissions globally, should be at the frontline of tackling some of the most severe effects of climate change.
A look back at what the COPs have actually achieved.
The biggest issues at COP27 involve financing for low-income countries hit hard by climate change. A former World Bank official describes some promising signs she’s starting to see.
The lack of a clear formula to distinguish between donors’ adaptation and mitigation funds is hurting Africa’s climate response.
Wealthy nations have been reluctant to put loss and damage on the COP27 agenda. If negotiations fail, they could ‘unravel the fragile hopes for climate solidarity’
Heading into COP27, those at the sharp end of climate change are seeking a better deal.
Stronger pledges, more climate finance, and payments for loss and damage.
Remember hearing about COP26 in Glasgow last year? There’s a lot at stake in this year’s climate summit, so here’s your essential guide to prepare.
Financial turmoil will make it harder to invest in climate action on a massive scale.
Developing countries want industrialised countries to pay reparations for loss and damage caused by climate change. Even with disasters ramping up, wealthy nations are resisting.
In the absence of a clear plan for affording the high costs of decarbonisation, it’s time for the UK Treasury to tax fossil fuel companies.
The damage from storms, droughts and sea level rise is in the news almost daily. Some money is flowing to help poor countries, but what isn’t clear is how much impact the funds are having.
Oilsands producers can expect banks to do extensive reviews of their creditworthiness over the next several months.