Bankers bet billions on new wave of debt-for-nature deals

More countries linking debt cost to conservation goals Seychelles, Belize, Barbados among those to strike deals Ecuador swap could be biggest yet at $800 million Cape Verde, Sri Lanka and others are also exploring deals SHARM EL-SHEIKH, Egypt, Nov 17 (Reuters) – The Galapagos Islands, whose thousands of unique species inspired Darwin’s theory of evolution, … Read more

US, Japan and partners mobilize $20 billion to move Indonesia away from coal

Deal will bring forward peak emissions to 2030 Indonesia sets net-zero goal in power sector Program based on COP26 South Africa plan NUSA DUA, Indonesia/SHARM EL-SHEIKH, Egypt, Nov 15 (Reuters) – A coalition of countries will mobilize $20 billion of public and private finance to help Indonesia shut coal power plants and bring forward the … Read more

COP27: Biden says the climate crisis is about ‘very life of the planet’

SHARM EL-SHEIKH, Egypt, Nov 11 (Reuters) – US President Joe Biden told the COP27 climate conference in Egypt on Friday that global warming posed an existential threat to the planet and promised the United States would meet its targets for fighting it. His speech was intended to pump up global ambition to prevent the worst … Read more

African nations tell COP27 fossil fuels will tackle poverty

African countries say the rich world has yet to shift to renewables Say need to end fuel poverty Energy crisis linked to Ukraine war has shifted priorities SHARM EL-SHEIK, Nov 10 (Reuters) – African nations must be allowed to develop fossil fuel resources to help lift their people out of poverty, governments said at the … Read more

Show us the money: Developing world at COP27 seeks financing details

Finance Day at COP27 puts focus on banks, investors, insurers Emerging markets demand more help to pay for transition UN experts flag dozens of climate projects worth $120 bln SHARM EL-SHEIKH, Egypt, Nov 9 (Reuters) – Finance took center stage at the COP27 climate talks on Wednesday, with UN experts publishing a list of projects … Read more

COP27: Polluters must pay for climate change, poor nations tell rich

Island nations call for global carbon tax ‘While they are profiting, the planet is burning’ Fears grow for jailed hunger strikers in Egypt SHARM EL-SHEIKH, Egypt, Nov 8 (Reuters) – Leaders from poor countries criticized wealthy governments and oil companies for driving global warming, using their speeches on Tuesday at the COP27 climate summit in … Read more