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BankingItaly and African Development Bank Sign $420 Million Co-Financing Deal
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BusinessTotalEnergies, Bp, Equinor and Shell Commit $500 Million to Boost Energy Access
EU Must Spend 39 Billion Euros a Year for Net Zero Transport Targets, Campaign Group Says
Date: November 4, 2024
By Alessandro Parodi (Reuters) – Europe needs to spend 39 billion euros ($42.46 billion) a year to reach its net zero targets in the transport sector by 2050, campaign group Transport & Environment (T&E) said on Monday, issuing five key recommendations for the European Union. The EU is seeking a more coordinated industrial policy involving...
UN COP16 Nature Talks Gridlocked as Conservation Funding Trickles In
Date: October 29, 2024
By Jake Spring and Oliver Griffin CALI, Colombia (Reuters) -Countries were at an impasse over how to fund conservation and other key decisions as the U.N. COP16 biodiversity summit entered its second week on Monday, with nations pledging millions of dollars rather than the billions needed. Seven countries and one provincial government pledged an additional...
G20 Welcomes Recommendations to Unlock Funding for Climate Transition Projects
Date: October 25, 2024
By Marcela Ayres WASHINGTON (Reuters) -A group of funds backed by the world’s 20 largest economies aimed at financing climate transition projects needs to be more targeted and operate with greater efficiency to improve the slow pace of disbursements, according to a report on Thursday from the G20’s sustainable finance working group. The G20...
Exclusive-African Countries Eye World’s First Joint ‘debt-For-Nature’ Swap
Date: September 27, 2024
LONDON (Reuters) – At least five African countries are working on what could be the world’s first joint “debt-for-nature” swap to raise at least $2 billion to protect a coral-rich swathe of Indian Ocean, according to a global conservation group. Debt-for-nature deals are becoming increasingly popular for poorer nations to pay for conservation. Bonds...
Development Banks Get Ratings Boost on Climate Clauses and Hybrid Bonds
Date: July 3, 2024
Development banks get ratings boost on climate clauses and hybrid bonds By Marc Jones LONDON (Reuters) – The World Bank and other top development banks got a double boost on Tuesday as Fitch said debt payment freezes for climate-disaster hit countries would not hit the banks’ credit rating and it would no longer cap ratings...
Analysis-A Year On, Europe Less Fearful of U.S. Green Subsidies Push
Date: August 18, 2023
Analysis-A year on, Europe less fearful of U.S. green subsidies push By Jan Strupczewski BRUSSELS (Reuters) – When the United States launched its massive green subsidies push a year ago, many in Europe feared it would be a fresh blow to their regional economy grappling with the knock-on effects of war in Ukraine and lingering...