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☆ Here’s where Kamala Harris stands on climate and energy
▼ + stars: | 2024-07-23 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —As Vice President Kamala Harris marches toward the Democratic nomination, climate advocates like what they see. And as vice president, Harris made the crucial tie-breaking vote to pass Democrats’ historic climate bill. “Vice President Harris would kick ass against Trump,” Biden’s first national climate adviser Gina McCarthy said in a statement. Given the stakes, climate advocates are eager to shine a light on the stark contrast between Trump and Harris. That’s the critical work for her in the coming days.”Second-term prioritiesA second Democratic administration will continue implementing Biden’s climate bill and defend many of Biden’s marquee climate rules against legal challenges.

Persons: Kamala Harris, he’s, Joe Biden, Harris, Tiernan Sittenfeld, ”, Gina McCarthy, Donald Trump –, “ It’s, Trump, ” Jamal Raad, “ Harris, Lori Lodes, Biden, Michael Regan, Saul Loeb, –, Stevie O’Hanlon, “, ” O’Hanlon, That’s, Ben King, Regan, I’ll, ” Regan Organizations: CNN, Democratic, League of Conservation Voters, ConocoPhillips, Exxon Mobil, Senate, Green, Trump, Republican, Evergreen, Big, Power, Republicans, Getty, Sunrise, Sunrise Movement, Biden, Agency, Milwaukee Locations: Baltimore, Willow, Paris

☆ Climate and infrastructure startups are leaning into modularity — and investors are paying attention
▼ + stars: | 2024-03-11 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

The lines between climate tech and infrastructure startups have become increasingly blurred. Investments in infrastructure startups over time. Permitting remains a massive roadblock for climate projects and modularity can be one way to "get around some of those hurdles," added Ben Wolkon, partner at MUUS Climate Partners. Modular tech can also be distributed and containerized, with some startups hoping to roll out with partners on-site. It's not just industrial startups that are going modular and distributed — it encompasses carbon capture, water filtration, food systems, and energy, said Regeneration.VC's Hoffman.

Persons: Katie Hoffman, Mike Schroepfer, Seonghoon Woo, Tim Boeltken, Sierra Peterson, Ben Wolkon, It's, Regeneration.VC's Hoffman Organizations: Business, Venture, Investments, Facebook, Gigascale, MUUS Climate Partners Locations: Paris, New York

☆ Jobs and geopolitical threats will keep climate tech in spotlight even if Biden is voted out, insiders say
▼ + stars: | 2024-02-08 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +6 min

Read previewPresident Biden has won quite a few fans in the climate tech sector during this time in office. Legislation, including the IRA, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, has unlocked enormous amounts of capital that bolsters climate tech innovation and adoption. The Swiss company would have expanded Stateside eventually, but such policies helped it pick up pace, said Andrew Fishbein, Climeworks' senior policy manager in the US. For example, Regeneration VC doesn't factor subsidies into its investment decisions or portfolio companies' financial projections. Advertisement"Who knows, maybe 2024 is going to be a banner year for climate tech," he said.

Persons: —, Biden, Sierra Peterson, Anna, Alexia Basile, Katie Hoffman, Hoffman, Climeworks, Andrew Fishbein, We're, Kevin Stevens, Trump, VC's Hoffman, Energize Capital's Stevens, Ben Wolkon Organizations: Service, Business, Voyager Ventures, Infrastructure Law, Regeneration, Battery, Trump, Future, Department of Energy, Energize Capital, MUUS Climate Partners Locations: Paris, Nevada , Arizona, Louisiana, North Dakota, California, Swiss, Washington

☆ PNG Assures Australia on Security Ties as Leader Marape Arrives on Visit
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Australia and the United States have been alarmed by China's security ambitions in the Pacific Islands region since Beijing struck a security and policing deal with Solomon Islands. U.S. Deputy Secretary of State Richard Verma urged PNG to reject a security deal with China, in comments reported by the Sydney Morning Herald on Monday. PNG would not strike a security agreement with China, he said in an interview with the ABC broadcast on Wednesday. China "understand clearly where we stand on security in the region and that is with our close traditional partners, Australia, U.S., New Zealand", he added. Even before the riots, he had pointed to law-and-order concerns and said boosting security would help to attract foreign investment in PNG's burgeoning resources sector.

Persons: James Marape, Marape, Justin Tkachenko, Tkachenko, Richard Verma, Tkatchenko, Penny Wong, Kirsty Needham, Michael Perry Organizations: SYDNEY, Papua New Guinea, Reuters, U.S, Sydney Morning Herald, Australian, ABC Locations: Papua New, Canberra, Australia, China, United States, Beijing, Solomon Islands, Port Moresby, U.S, , New Zealand

☆ Italy's Meloni Opens Africa Summit, Promises New Partnership
▼ + stars: | 2024-01-29 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

The summit, being held in Italy's ornate Senate, will last all day, with Italian ministers due to outline an array of initiatives, from energy and infrastructure to health and education, that Meloni says will be mutually beneficial. "We believe it is possible to envision and write a new chapter in the history of our relationship, a cooperation among equals, far from any predatory imposition or charitable stance towards Africa," Meloni said in an opening speech. Eni, Italy's largest importer of natural gas, has already countered lower Russian supplies by shipping increased volumes from Africa, where it has had a presence for decades. The company has said Algeria, Egypt and Libya will be Italy's main gas suppliers for the next few years. Most had departed from North African countries such as Tunisia and Libya, many fleeing poverty and conflict in sub-Saharan Africa and the Middle East.

Persons: Crispian Balmer, Angelo Amante ROME, Giorgia Meloni, Meloni, Enrico Mattei, Ursula von der Leyen, Charles Michel, Mattei, Alex Richardson Organizations: Italian, Eni, European Union, European, Energy, EU Locations: Rome, Africa, Italy, China, Russia, Gulf, Tunisia, Senegal, Kenya, Republic of Congo, Somalia, Ukraine, Algeria, Egypt, Libya, Europe, North, Saharan Africa

☆ Meloni Looks to Reset Italy's Relations With Africa
▼ + stars: | 2024-01-26 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +4 min

"What needs to be done in Africa is to build cooperation and serious strategic relationships as equals, not predators," Meloni told a news conference this month. Founder Mattei expanded Italy's presence in Africa, presenting his company as a friendly alternative to U.S. and French oil majors. But climate change experts question the wisdom of sinking significant new investments into gas infrastructure when existing projects already guarantee Italy's energy security. Meloni is not the first Italian leader to seek better ties with Africa and draw a veil over Italy's fraught colonial legacy, which Rome has never wanted to confront. "My goal is to work in Africa and block the departures in Africa," she said this month.

Persons: Crispian Balmer ROME, Giorgia Meloni, Enrico Mattei, Meloni, Arturo Varvelli, Mattei, Crispian Balmer, Alison Williams Organizations: Eni, United Arab, European Council, Foreign Relations, Union, European Commission Locations: Rome, Italian, Italy, Africa, Europe, China, Russia, United Arab Emirates, Turkey, Meloni, Ukraine

☆ Instagrid replaces gas-powered generators with electric alternatives. Check out the 23-slide pitch deck it used to raise $95 million.
▼ + stars: | 2024-01-23 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA German startup replacing fossil fuel generators used to power construction, film sets, music festivals, and first responders has just raised $95 million in a Series C funding round. "What people did before, if they needed more computational power, they built bigger and bigger and bigger computers – so these mainframe computers that you had in the early 90s," he told Business Insider. AdvertisementIts customers, which buy units for use or to rent on to others, include Swedish construction company Skanska, European construction rental company Loxaml, and the Red Cross. The fresh funds will be used to expand the rollout of the current system and launch additional powerful electric generator systems.

Persons: —, Instagrid, Sebastian Berning, Berning, Morgan Organizations: Service, Business, Teachers ' Venture, Ontario Teachers, Energy Impact Partners, SET Ventures Locations: Swedish, Ontario, Europe, North America, , California

☆ Climate tech in 2023: More grants, experienced founders, and new laws help sector to standout year
▼ + stars: | 2023-12-29 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +6 min

While much of Europe's startup ecosystem has been hobbled by the rocky macroeconomic environment and soaring interest rates, climate tech has continued to lure funds from venture capitalists. Many climate tech companies work with hardware, meaning debt financing is also an attractive non-dilutive option for working capital between funding rounds. Global private market equity and grant funding for climate tech startups is actually down – it slid 40% to $65 billion in the 12 months ending September 30, according to PwC. Some smaller climate tech companies have made cuts, including vertical farming company InFarm, which retreated from Europe and was declared bankrupt in the Netherlands. Generally, however, layoffs have been a boon for climate as big tech talent has moved into or launched climate tech startups.

Persons: —, Siobhan Brewster, Atomico, Brewster, Piotr Bukanski, Mike Schroepfer, Greg Sandoval, retrofits, Barcelona's, Balderton Capital's Magda Lukaszewicz, Stuart Ferguson, Schroepfer, Warner, Aenu's Brewster Organizations: Service, Business, Venture, Energy, Beringea, Gigascale, Sustainable Ventures, Silicon Valley Bank, Global, Ada Ventures Locations: London, Europe's, Ukraine, United States, Europe, Silicon, Netherlands

On Monday, Prince Abdulaziz bin Salman, energy minister and the key climate negotiator, for the kingdom, was a no-show at the Saudi Green Initiative. "The climate finance that they have pledged at this COP28 is simply not enough," said Pakistani activist Zaigham Abbas, whose country was devastated last year by widespread flooding. Elsewhere, France and Japan said they would support a move by the African Development Bank to leverage IMF Special Drawing Rights for climate and development. This year also features the biggest-ever representation of business at the annual U.N. summit, amid hopes for more private investment toward climate causes. "The scale of the climate crisis demands urgent and game-changing solutions from every industry," COP28 President Ahmed Al-Jaber said.

Persons: COP28, Johanna Geron, Prince Abdulaziz bin Salman, Crown Prince Mohammad bin Salman, Nicholas Stern, Mia Mottley, Antonio Guterres, Zaigham Abbas, Abu Dhabi, Ahmed Al, Jaber, Simon Jessop, Maha El, Al Sayegh, Alexander Cornwell, Elizabeth Piper, David Stanway, Katy Daigle Organizations: of, European Union, REUTERS, Companies, Saudi, United, United Arab Emirates, Saudi Green Initiative, Crown, Grantham Research, Asian Peoples ' Movement, Development, African Development Bank, European Bank for Reconstruction, Copenhagen Infrastructure Partners, BlackRock, HSBC, Finance, Reuters, Thomson Locations: Dubai, Brussels, Belgium, Companies UAE, DUBAI, COP28, United Arab, Saudi Arabia, Sharm el, Sheikh, Egypt, Paris, China, Grantham, Barbados, France, Japan, Copenhagen, Abu

☆ Top development banks, funds set up 'debt-for-nature' task force
▼ + stars: | 2023-12-04 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

[1/2] Fishermen go out to sea after Ecuador's goverment expanded the protected marine area around the Galapagos Islands, Ecuador January 24, 2022. REUTERS/Santiago Arcos Acquire Licensing RightsLONDON, Dec 4 (Reuters) - A consortium of top multilateral development banks (MDB) and climate funds launched a global "task force" on Monday to scale up the number and size of 'debt-for-nature' swaps that countries can do. It will initially be led by the Inter-American Development Bank (IDB) and the U.S. International Development Finance Corporation (DFC), lenders which between them have been involved in all the recent swaps, also including Barbados and Gabon. The Asian Development Bank, the African Development Bank, France's Agence Française de Développement, and the European Investment Bank will also be part of the task force, as well as the Green Climate Fund and the Global Environment Facility. Development banks play a particularly important role in debt-for-nature swaps because they provide the credit guarantees and/or political risk insurance that make them viable.

Persons: goverment, Santiago Arcos, Ilan Goldfajn, Scott Nathan, Marc Jones, Kirsten Donovan Organizations: REUTERS, Santiago, Reuters, Inter, American Development Bank, U.S . International Development Finance Corporation, Asian Development Bank, African Development Bank, France's Agence Française, European Investment Bank, Climate Fund, Global, Thomson Locations: Ecuador, Belize, Barbados, Gabon

When there’s a global crisis, wealthy countries tend to find money. That was the case in the United States when big banks were bailed out to soften a global financial crisis. But the climate crisis? This weekend, Vice President Kamala Harris visited the United Nations climate summit in Dubai, in the United Arab Emirates, and promised $3 billion for the Green Climate Fund, which benefits poorer nations. One of the big tests facing this summit, known as COP28, is whether it will fare any better than earlier climate talks at shoring up anything close to the money that’s needed.

Persons: Kamala Harris, John Kerry, Biden’s Organizations: United Arab, Green Climate Fund, Biden, Walmart, Pepsi, McDonalds Locations: United States, Ukraine, United Nations, Dubai, United Arab Emirates

Harris was delayed because she had been on the telephone with the emir of Qatar regarding the Israel-Hamas war. Political Cartoons View All 1277 ImagesThe awkward double booking during Harris’ hastily arranged Dubai trip illustrates a set of tricky — and at times potentially contradictory — policy and political crosscurrents. The Biden administration with its diverse coalition of voters is trying to navigate these crosscurrents just as the 2024 presidential race is heating up. In Dubai, Harris said it was “our duty and our obligation” to do more to move the world away from fossil fuels and limit the increase in average global temperatures. “President Biden and his administration should show their statement in action,” said Nihad Awad, executive director of the Council on American-Islamic Relations.

Persons: Joe Biden, Kamala Harris, Kamala Harris ”, Harris, Harris ’, Biden, “, ” Harris, Donald Trump, JL Andrepont, ” Andrepont, Amber Sherman, ” Sherman, ”, Nihad Awad, John Kirby, Israel, “ There’s, ” Kirby, ___ Boak Organizations: United Arab Emirates, United Arab, Republican, Democratic, The Associated Press, NORC, for Public Affairs Research, Black Caucus, Young Democrats of, Islamic, White House Locations: DUBAI, United Arab, Dubai, United Arab Emirates, Washington, Qatar, Israel, Gaza, U.S, Palestine

☆ Kamala Harris announces new $3 billion US pledge to global climate action at Dubai summit
▼ + stars: | 2023-12-02 | by ( Kyle Feldscher | Ella Nilsen | ) edition.cnn.com time to read: +6 min

Harris said the US would pledge another $3 billion to the Green Climate Fund – the main finance vehicle to help developing nations adapt to the climate crisis and cut fossil fuel pollution. “Today we are demonstrating through action how the world can and must meet this crisis,” Harris said. Harris’ attendance at the summit in Dubai is in line with her recent steps to ramp up public messaging on climate change. We must treat the climate crisis as the existential threat it truly is. In what represented an early success, several countries pledged millions of dollars to help nations hit hardest by the climate crisis.

Persons: Kamala Harris, Harris, ” Harris, Coal, “, Joe Biden, Biden, Donald Trump, –, CNN’s Priscilla Alvarez, Sam Fossum, Ella Nilsen Organizations: DC CNN —, US, Environmental Protection Agency, Past Coal Alliance, Energy Information Administration, UAE, Japan, Biden, Republican, Washington Post, University of Maryland Locations: Washington, Dubai, United States, Israel, Gaza, Germany, Paris

"Since then, the United States has turned ambition into action." On the sidelines of the conference, the United States also unveiled new measures to curb emissions of the powerful greenhouse gas methane from oil and gas operations. That awkward coincidence underscores one of COP28's most contentious questions: Can the world's response to climate change involve continuing use of fossil fuels? Harris told the conference that the United States supports phasing out of "unabated coal" use, but she did not mention other fossil fuels. "We're in a context in which we need to reduce production of fossil fuels and ... we need to be on a path of lower consumption.

Persons: Kamala Harris, Joe Biden, Harris, haven't, aren't, Catherine Abreu, John Podesta, Richard Valdmanis, Valerie Volcovici, Sarah McFarlane, Simon Jessop, Katy Daigle, Kevin Liffey, Diane Craft Organizations: Climate Fund, OPEC, United, UAE, Saturday, Exxon Mobil, Saudi Arabia's Aramco, Oil, Climate Initiative, Reuters, Thomson Locations: DUBAI, United States, Dubai, COP26, America, China, Texas, New Mexico, United Arab Emirates, U.S, Saudi, Ukraine

People arrive to attend the Pledging Conference of the Green Climate Fund (GCF) for the First Replenishment in Paris, France, October 25, 2019. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsDUBAI, Dec 2 (Reuters) - The United States will pledge $3 billion to the Green Climate Fund, sources familiar with matter said on Saturday as Vice President Kamala Harris arrived in Dubai for the U.N. climate summit. The fund, with more than $20 billion in pledges, is the largest international fund dedicated to supporting climate action in developing countries. The latest pledge, which Reuters was first to report, would be additional to another $2 billion previously delivered by the United States. In addition to supporting climate adaptation, the fund also finances projects to help countries shift to clean energy.

Persons: Pascal, Kamala Harris, Harris, replenishments, Joe Biden, John Kerry, Nandita Bose, Valerie Volcovici, William James, Elizabeth Piper, Katy Daigle, Edwina Gibbs Organizations: Climate, REUTERS, Rights, Climate Fund, Reuters, Thomson Locations: Paris, France, United, Dubai, United States, U.S, COP28

Italy's Prime Minister Giorgia Meloni addresses her speech during the question time at the upper house of parliament in Rome, Italy November 23, 2023. REUTERS/Remo Casilli Acquire Licensing RightsROME, Dec 1 (Reuters) - Italy will provide 100 million euros ($108.91 million) to a new fund to help poor countries cope with "loss and damage" due to climate change, Prime Minister Giorgia Meloni said on Friday, adding she would invest 70% of her 4.2-billion euro Climate Fund in Africa. "We are contributing to the loss and damage fund with 100 million euros to help achieve the goals of this COP28," she told an event at the COP28 climate conference in Dubai. Italy's Climate Fund is part of a commitment by rich countries to funnel at least $100 billion a year in developing economies through green transition projects under the form of state guarantees, loans and equity investments. In late 2021, under Meloni's predecessor Mario Draghi, Italy set aside 840 million euros per year between 2022 and 2026 for the programme plus an additional annual endowment of 40 million euros starting from 2027.

Persons: Giorgia Meloni, Remo Casilli, Rome, Mario Draghi, Gilberto Pichetto Fratin, William Maclean Organizations: Italy's, REUTERS, Rights, Fund, Energy, Reuters, Treasury, Thomson Locations: Rome, Italy, Africa, Dubai

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan attends the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 1, 2023. REUTERS/Amr Alfiky Acquire Licensing RightsDUBAI, Dec 1 (Reuters) - United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan, whose country is hosting the COP28 climate summit, announced on Friday the establishment of a $30 billion climate fund that aims to attract $250 billion of investment by the end of the decade. Dubbed ALTÉRRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency. ALTÉRRA has also committed to invest $2 billion into its second Brookfield Global Transition Fund. ALTÉRRA was established by Lunate, a newly set up Abu Dhabi-based alternative investment manager with over $50 billion in assets.

Persons: United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Amr Alfiky, Sheikh Mohammed Bin Zayed Al Nahyan, ALTÉRRA, BlackRock, Abu, Sheikh Tahnoon bin Zayed Al Nahyan, William James, Nadine Awadalla, Al Sayegh, Tommy Reggiori Wilkes, Susan Fenton, Sharon Singleton, Miral Organizations: United, United Nations, Change, United Arab Emirates, REUTERS, Rights, BlackRock, TPG, Brookfield Asset Management, Transition, Lunate, Chimera Investment, Reuters, Thomson Locations: United Arab Emirates, Dubai, United Arab, COP28, Brookfield, Abu Dhabi, UAE

☆ UAE's Alterra climate fund will drive investment in the developing world: COP28 director-general
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAE's Alterra climate fund will drive investment in the developing world: COP28 director-generalThe UAE's new $30 billion Alterra climate fund will "drive investment in the developing world and global south," COP28 Director-General Majid al-Suwaidi tells CNBC's Dan Murphy.

Persons: Majid al, CNBC's Dan Murphy

☆ UAE seeks to silence critics with $30-billion climate fund pledge with BlackRock, Brookfield
▼ + stars: | 2023-12-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Sultan Ahmed Al Jaber, President of the UNFCCC COP28 Climate Conference, attends a press conference following the opening session of the conference on November 30, 2023 in Dubai, United Arab Emirates. The United Arab Emirates on Friday said it would contribute $30 billion to a new climate-oriented fund, with finance juggernauts BlackRock, Brookfield and TPG stepping in as inaugural launch partners. Its activity will center on areas including the energy transition, industrial decarbonization and climate technology. The announcement was made on the second day of the COP28 climate summit in the UAE. COP28 President Sultan al-Jaber, who also serves as chief executive of the Abu Dhabi National Oil Company (ADNOC), will chair the board of Alterra.

Persons: Sultan Ahmed Al Jaber, Sultan al, Jaber Organizations: Conference, United Arab Emirates, United, juggernauts BlackRock, TPG, Global, Abu Dhabi National Oil Company Locations: Dubai, United Arab, Brookfield, Latin America, Asia, Africa, Oceania, UAE, Abu Dhabi

☆ Leaders Back a Climate Fund and Voice Frustrations at COP28
▼ + stars: | 2023-11-30 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

On the first day of the U.N.’s climate summit, known as COP28, diplomats from nearly 200 countries approved a draft plan for a fund to help poor countries hit by climate disasters. The speedy adoption of the fund, which developing nations fought more than 30 years to create, was widely viewed as a positive sign for the two-week summit in Dubai. Some climate advocates are frustrated that COP28 is being hosted by the United Arab Emirates, which is ramping up its production of oil and has been accused of using its host position to promote its fossil fuels. However, David said that recent developments offered hope for the summit. Two weeks ago, the U.S. and China, the world’s two biggest polluters, agreed to accelerate efforts to sharply increase clean energy, although they didn’t provide a timeline.

Persons: ”, David Gelles, David Organizations: United Arab Emirates Locations: Dubai, U.S, China

☆ Emirati Fund to Invest Billions in U.S. Firms for Climate Projects
▼ + stars: | 2023-11-30 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: 1 min

An Emirati financial firm is planning to invest at least $30 billion in a new climate fund in partnership with some of the biggest names in North American finance, according to three people familiar with the plans. The move comes as the United Arab Emirates, this year’s host of the annual United Nations climate talks that opened in Dubai on Thursday, is under pressure to prove it is committed to tackling global warming despite the fact that its economy is based on oil production. Lunate Capital, a new financial firm overseen by the Abu Dhabi royal family, launched just months ago with at least $50 billion in assets. On Friday, Lunate is expected to announce it will set up the new climate fund with a handful of prominent asset managers including TPG, BlackRock and Brookfield Asset Management, the three people said.

Persons: Abu, Lunate Organizations: United Arab, United Nations, Lunate, TPG, Brookfield Asset Management Locations: American, United Arab Emirates, United, Dubai, Abu Dhabi, BlackRock

CNN —The United States is receiving criticism for contributing an “embarrassing” amount of money to a new climate fund adopted Thursday at the COP28 talks in Dubai, offering a pledge more than five times lower than the United Arab Emirates . Some countries pledged money to the fund right after it was agreed. Money from rich nations must now begin flowing into the fund, they said. Several wealthy nations, including the United States, have been reluctant to tie countries’ obligations to their historic emissions. It’s also been contentious because wealthy nations have expressed concern that paying for such a fund could be seen as admission of climate liability.

Persons: Sultan Al Jaber, ”, Ani Dasgupta, Dasgupta, ” “, ” Dasgupta, Mohamed Adow, ” Adow, “, Biden, John Kerry, ” Tom Evans, ” Evans, “ they’re, It’s, Al Jaber —, ADNOC —, Al Jaber Organizations: CNN, United, United Arab Emirates, World Bank, Japan, World Resources Institute, Republican, Republicans, US Locations: United States, Dubai, United Arab Emirates, United Arab, Germany, UAE, COP28, Egypt

☆ 'Tax the bad' to boost climate finance, COP28 panel advises
▼ + stars: | 2023-11-29 | by ( Mark John | ) www.reuters.com time to read: +4 min

[1/3] A general view shows Marathon Petroleum's refinery, following Russia's invasion of Ukraine, in Anacortes, Washington, U.S., March 9, 2022. Higher carbon taxes - including levies on emissions from the maritime and aviation sectors - should be among options COP28 studies, the panel recommended. Subsidies for fossil fuels totalled $1.3 trillion, and substantially more if counting the societal cost of dealing with emissions and pollution. Co-chair Nicholas Stern, professor at LSE/Grantham Research Institute, said there was a compelling case for energy companies to make voluntary contributions. "I think that moral obligation is something that will be emphasised at COP28, and indeed before and after," he said.

Persons: David Ryder, Amar Bhattacharya, Vera Songwe, Nicholas Stern, Mark John, Barbara Lewis Organizations: REUTERS, Summit, United Arab, Brookings, Center, Sustainable Development, Investments, World Bank, LSE, Grantham Research Institute, Aviation, Thomson Locations: Ukraine, Anacortes , Washington , U.S, Dubai, United Arab Emirates, Paris, COP28, China

Here's a rough guide to the jargon being used in Dubai at COP28, this year's United Nations climate change conference. The term "climate change" is used more broadly to describe global warming and its consequences, including variable weather extremes. GHGs include a myriad of gases, but the most impactful — methane and carbon dioxide — are also referred to as "carbon emissions" because both molecules contain carbon. The world's excess carbon emissions come mostly from the burning of fossil fuels and other industrial activities. UNFCCC - The United Nations Framework Convention on Climate Change is the treaty adopted in 1992 agreeing to halt climate change.

Persons: Amanda Perobelli, COP21, NDCs, Gloria Dickie, Katy Daigle, Rod Nickel, Aurora Ellis Organizations: United Nations, Paris, Thomson Locations: Amazonia, Nova Xavantina, Mato Grosso, Brazil, Dubai, COP28, United Nations, China, PARIS, Paris, Glasgow, COP27, London

☆ German cabinet to agree supplementary budget this afternoon - spokesperson
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

... Acquire Licensing Rights Read moreNov 27 (Reuters) - Germany's cabinet is expected to agree a supplementary 2023 budget this afternoon, a government spokesperson said on Monday. The cabinet will also try to present a 2024 budget by the end of the year, the spokesperson said, adding that if this did not work out, the plan was to agree a budget in January. The cabinet would base its reasoning for a renewed suspension of the country's debt brake on 2022 reasoning, the spokesperson added, speaking at a regular press conference in Berlin. Chancellor Olaf Scholz's government was forced to freeze most new spending commitments after the constitutional court blocked plans to repurpose unused pandemic funds towards green projects and industry subsidies, wiping billions from the federal budget. Reporting by Amir Orusov and Christian Kraemer, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Chancellor Olaf Scholz's, Amir Orusov, Christian Kraemer, Rachel More Organizations: Thomson Locations: Berlin, Germany

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