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☆ COP28’s big challenge: green cash for poor states
▼ + stars: | 2023-11-15 | by ( George Hay | ) www.reuters.com time to read: +7 min

Rather than drawing attention to this paucity of ambition, al-Jaber wants states to commit to trebling global capacity of renewable energy by 2030. Progress in China and the West is largely a function of cash: these regions accounted for 84% of the $1.3 trillion committed to global climate finance in 2022. They calculate that by 2030, developing countries need to invest around $2.4 trillion a year in order to decarbonise their economies. The problem is that the developed world has consistently missed targets to channel climate cash to less developed counterparts. In September al-Jaber announced a $4.5 billion scheme to deploy UAE state cash and private sector resources to help Africa decarbonise.

Persons: al, Jaber, hasn’t, Nicholas Stern, Stern, Ajay Banga, Mark Carney, Shriti Vadera, Larry Fink, Joko Widodo, UAE Crown Prince Mohammed bin Zayed, Nahyan, Breakingviews, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, United, Conference of, Abu Dhabi National Oil Company, United Nations, International Energy Agency, The, IEA, World Bank, concessional, Bank, Bank of England, Prudential, BlackRock, U.S, Indonesian, Africa decarbonise, UAE Crown, Thomson Locations: United Arab Emirates, Abu Dhabi, Paris, China, The U.S, British, Egypt, Indonesia, Japan, South Africa, Vietnam, U.S, Al, UAE, Africa, COP28, Dubai

☆ World Bank names CEOs to help bring private funds to climate, development finance
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, July 10 (Reuters) - The World Bank on Monday named 15 chief executive officers including financiers and asset managers to a group launched by the lender's president, Ajay Banga, aiming to marshal more private capital to combat climate change and boost investment in developing countries. Banga announced the initiative at a global finance summit in Paris last month alongside Mark Carney, the U.N. special envoy on climate action, and Shriti Vadera, chair of Prudential Plc (PRU.L). The World Bank and the CEOs will work "to develop, test, implement and ultimately scale financing structures that can most effectively mobilize private capital," Carney said in a statement. He said in a statement that the Private Investment Lab CEOs were a "crucial piece of the puzzle" to devise ways to pull more private sector investment into the intertwined challenges of poverty, climate and fragility. Reporting by David Lawder; Editing by Will Dunham and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Ajay Banga, Joe Biden, King Charles . Banga, Mark Carney, Shriti Vadera, Carney, Thomas Buberl, Larry Fink, BlackRock, Noel Quinn, Hendrik du Toit, Jessica Tan, Sim Tshabalala, Bill Winters, Dilhan, Mark Gallogly, Banga, David Lawder, Will Dunham, David Gregorio Our Organizations: Bank, Investment, U.S, Prudential Plc, World Bank, AXA, HSBC, Shemara, Mitsubishi UFJ Financial, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy, Tata Sons, Temasek, Cairns, Mastercard, Private Investment, Thomson Locations: Britain, Paris, Macquarie, Banga

OTTAWA, June 16 (Reuters) - Flags flew lowered in the Canadian province of Manitoba on Friday and relatives braced for bad news after 15 mainly elderly people died in one of the country's worst recent road crashes. "It's a terrible, terrible thing that occurred, and our thoughts go out to the families that have been absolutely devastated by this news," he told reporters in Montreal. Ron Bretecher, whose parents were on the bus, told reporters his mother had survived the crash but his father was still unaccounted for. The bus, heading south, was crossing the Trans-Canada highway when it collided with the truck, which was traveling east. "The fire was about 10 to 15 feet high and the smoke was almost 20, 30 feet high," Vadera said.

Persons: Justin Trudeau, Ron Bretecher, It's, Mike Blume, David Bosiak, Ross, William Doherty, Nirmesh Vadera, Vadera, David Ljunggren, Nick Macfie, Jonathan Oatis, Nick Zieminski Organizations: OTTAWA, Flags, Police, Canadian Broadcasting Corp, CBC, Thomson Locations: Canadian, Manitoba, Carberry, Winnipeg, Ottawa, Montreal, Dauphin, Carberry , Manitoba, Canada, Saskatchewan

☆ At least 15 dead in Canada highway collision
▼ + stars: | 2023-06-15 | by ( Sara Smart | ) edition.cnn.com time to read: +2 min

The bus was headed south on Highway 5 toward a casino near the town of Carberry, while the semitrailer was headed east on Highway 1, Royal Canadian Mounted Police officer Rob Lasson said in a news conference. First responders are pictured following the deadly road accident near Carberry, Canada, on Thursday. The injured being treated included the drivers of the semitrailer and the bus, Lasson said. Twelve ambulances responded to the collision scene, as well as an air ambulance, said Jennifer Cumpsty, executive director of Acute Health Services. “The news from Carberry, Manitoba is incredibly tragic.

Persons: Rob Lasson, ” Lasson, Nirmesh Vadera, Lasson, Jennifer Cumpsty, ”, Rob Hill, Justin Trudeau, ” Trudeau, William Doherty, Ross Organizations: CNN, Royal Canadian Mounted Police, Getty, Acute Health Services, Manitoba, Twitter Locations: Canada’s Manitoba, Carberry, Winnipeg, Canada, AFP, Dauphin, Carberry , Manitoba

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