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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on February 6, 2025

    Featured image for article about Headlines

    By Lisandra Paraguassu and Valerie Volcovici

    BRASILIA/WASHINGTON (Reuters) - Countries are staying committed to their national climate plans and looking to lead the clean energy transition, as the United States plans to exit the Paris climate agreement, the UN's top climate official said in his first speech of the year on Thursday.

    Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, laid out priorities ahead of annual climate talks in November, and encouraged countries to prepare stronger national climate plans this year, even after U.S. President Donald Trump said he will remove the world's second-biggest greenhouse gas emitter from the Paris agreement.

    "A country may step back, but others are already stepping into their place to seize the opportunity, and to reap the massive rewards: stronger economic growth, more jobs, less pollution and far lower health costs, more secure and affordable energy," Stiell said in a speech in Brazil's capital Brasilia, alongside COP30 President Ambassador André Corrêa do Lago.

    Stiell said in the 10 years since the Paris agreement was adopted, the world has become more divided but the climate negotiation process has "managed to buck the trend." 

    Some governments have faced political backlash to climate policies. Green candidates in Europe are losing support and the U.S. elected Trump, who campaigned against the Biden administration's climate-centered agenda.

    Even so, Stiell said the world has mobilized around $2 trillion in climate finance, money to support poorer countries' efforts to reduce emissions and adapt to climate impacts, from "nearly nothing" over the last decade. He called on countries to increase the amount of climate finance they agreed to target at last year's climate summit of $300 billion annually by 2035.

    Stiell said he expects the vast majority of countries to submit new national climate plans under the Paris agreement this year. The UNFCCC has a February 10 deadline for submissions of those plans but many countries said they would submit them later in the year.

    (Reporting by Valerie Volcovici; Editing by Rod Nickel)

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