WRI Finance Center’s Post

This November countries will gather at #COP29 in Azerbaijan to work out the details of the #NCQG, the new international climate finance goal. The new finance goal needs to be more ambitious, channeling much more finance for urgently needed climate action in developing countries. By increasing financial support, it should enable developing countries to step up their climate ambitions in the next round of national climate plans, helping us reach our global climate goals. At the climate talks negotiators will attempt to reach consensus on foundational questions, from the dollar amount of the goal to which countries should contribute. We delve into the seven key elements of the NCQG that they will grapple with: https://bit.ly/3YjnweK #ClimateFinance #COP29Azerbaijan #UNFCCC

China renewed its commitments to Africa in September at the Forum on China-Africa Cooperation (#FOCAC) in Beijing, a renewal that included endorsing “small and beautiful” livelihood-improving projects and bankrolling sustainable energy projects. But despite this commitment to mutually beneficial green development and the promising potential of these smaller efforts, Chinese investors remain wary of these projects. In their article for Dialogue Earth, WRI finance experts Shuang Liu and Ye WANG lay out the innovative financing mechanisms and targeted incentives that can help overcome the barriers to financing smaller projects, facilitating greater investment and encouraging future Chinese-African collaboration on sustainable development projects. https://lnkd.in/ekB9nf2Z #SustainableDevelopment #GreenDevelopment #DevelopmentFinance

Emissions reduction targets are central to a bank’s net-zero commitment. Though banks generate some emissions from their own operations, their largest impact on the climate comes from the lending and financial services they provide to clients that operate in the real economy. Banks have made some progress in setting emissions reduction targets and expanding the number of sectors covered, but as you can see, more is needed. See how 25 banks’ commitments stack up across a variety of metrics with our Net Zero Tracker: https://bit.ly/4eJKJ0y #SustainableFinance #NetZero #GreenFinance

🗓️ Join WRI on October 23rd as we bring together a panel of distinguished experts to discuss how to ramp up #ClimateFinance for developing nations. Research shows that developing countries excluding China need around $1 trillion per year in external finance to achieve climate and nature goals by 2030, including around $500 billion from international public sources. That is a hefty sum compared to current levels. How will it be possible to scale up climate finance from billions to trillions? The webinar will lay out how to increase the finance flowing through bilateral and multilateral channels and explore ways to tap into wider sources of funding such as new taxes, re-directing fossil fuel and other harmful subsidies, mobilizing more investments from the private sector and debt relief and restructuring. Our speakers will also discuss how to approach the politically sensitive issue of whether more countries should contribute to climate finance and the tools available to ensure a fair approach. ✍️ Register now! ➡️ https://bit.ly/4dHqaAk #COP29 #UNFCCC #NCQG

As #MDBs continue to incorporate climate into their operations, few arenas are as important as the #EnergyTransition in South and Southeast Asia.    By drawing on their financial firepower, their experience with private financiers, and their policy acumen, MDBs can help turn the tide on energy produced from fossil fuels and make a decisive difference in some of the world’s biggest, most energy-intensive countries in its most dynamic corner. Check out the full article: https://bit.ly/3RXPj1I #GreenEnergy #DevelopmentFinance #SustainableDevelopment

🗝 #ClimateFinance is the key to reaching global climate goals. Without the finance to back our climate commitments, these pledges are little more than words. 🎯 We must raise our ambition across the board, setting higher finance targets and ensuring that we have the systems in place to reach them. 💻 ➡ https://lnkd.in/e6wxAtkd