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☆ $100 billion climate finance for developing countries is a 'drop in the ocean': Egypt climate envoy
▼ + stars: | 2023-12-04 | 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 Email$100 billion climate finance for developing countries is a 'drop in the ocean': Egypt climate envoyMahmoud Mohieldin, U.N. Climate Change High-Level Champion, says the figure is "only 10% to bridge the gap."

Persons: Mahmoud Mohieldin Locations: Egypt, U.N

☆ Guest view: “1% for 1.5C” can power green finance
▼ + stars: | 2023-04-11 | by ( Mahmoud Mohieldin | ) www.reuters.com time to read: +6 min

Developing countries excluding China require approximately $2 trillion annually by 2030, as per the Finance for Climate Action report. But current arrangements to get climate finance from developed to developing states are inefficient, insufficient and unfair. The difference could be subsidized in part through the as-yet unpaid portion of the promised $100 billion climate finance pledge, estimated conservatively at $20 billion annually. And it helps minimize developing countries’ indebtedness, in comparison to the current practice. The scheme would also unlock concessional funds for adaptation and resilience projects, which relative to the mitigation of emissions remains the Cinderella of climate finance, attracting less than 10% of global climate finance.

☆ Earthquake could cost Turkey up to $84 billion - business group
▼ + stars: | 2023-02-13 | by ( Nevzat Devranoglu | ) www.reuters.com time to read: +2 min

ANKARA, Feb 13 (Reuters) - Turkey's worst earthquake in almost a century has left a trail of destruction that could cost Ankara up to $84.1 billion, a business group said, while a government official put the figure at more than $50 billion. A report published at the weekend by the Turkish Enterprise and Business Confederation put the cost of the damage at $84.1 billion - $70.8 billion from the repair of thousands of homes, $10.4 billion from loss of national income and $2.9 billion from loss of working days. Nonetheless, economists and officials estimated the quake would cut economic growth by up two percentage points this year. The government forecast growth at 5% in 2022 and had estimated growth at 5.5% in 2023 before the quake. Turkey is due to hold presidential and parliamentary elections this summer - the biggest challenge to Erdogan during his two decades in power.

☆ Earthquake impact on Turkey's GDP unlikely to be as much as in 1999
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Feb 12 (Reuters) - The impact of last week's earthquake on Turkey's growth domestic product (GDP) is unlikely to be as pronounced as after the earthquake that hit the country in 1999, IMF Executive Director Mahmoud Mohieldin told reporters on the sidelines of the Arab Fiscal Forum on Sunday. Mohieldin added that, after the initial impact over the next few months, public and private sector investments in rebuilding could boost GDP growth going forward. Reporting by Yousef Saba Writing by Nafisa Eltahir Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

"We can now show that a meaningful pipeline of investible opportunities does exist across the economies that need finance most," Mahmoud Mohieldin, one of the U.N. appointed experts, known as U.N. After a year of meetings with stakeholders around the world, they released the initial list so that banks and others can assess the projects. "We now need a creative collaboration between project developers and public, private and concessionary finance, to unlock this investment potential and turn assets into flows," said Mohieldin, High-Level Champion for COP27. For daily comprehensive coverage on COP27 in your inbox, sign up for the Reuters Sustainable Switch newsletter. Reporting by Simon Jessop and Kate Abnett; Editing by Katy Daigle and Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

"We can now show that a meaningful pipeline of investible opportunities does exist across the economies that need finance most," Mahmoud Mohieldin, one of the U.N. appointed experts, known as U.N. After a year of meetings with stakeholders around the world, they released the initial list so that banks and others can assess the projects. "We now need a creative collaboration between project developers and public, private and concessionary finance, to unlock this investment potential and turn assets into flows," said Mohieldin, High-Level Champion for COP27. World Bank President David Malpass addressed delegates on Wednesday, running through the bank's climate efforts and involvement in a partnership under which Western nations would provide $8.5 billion to South Africa for its energy transition. For daily comprehensive coverage on COP27 in your inbox, sign up for the Reuters Sustainable Switch newsletter.

☆ Climate fight’s main event battles sophomore slump: podcast
▼ + stars: | 2022-11-01 | by ( George Hay | Virginia Furness | ) www.reuters.com time to read: 1 min

LONDON, Nov 1 (Reuters Breakingviews) - COP26 put climate change centre stage in 2021, but this year war and energy crises have distracted attention. In this episode of The Exchange, the United Nations’ key COP27 players Mahmoud Mohieldin and Nigel Topping tell George Hay why the event could still make a splash. Listen to the podcastFollow @gfhay on Twitter(The host is a Reuters Breakingviews columnist. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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