Whether humankind fails or succeeds in keeping the rise in global temperatures within manageable levels, central banks will sooner or later be called upon to act, said Benoît Cœuré, a member of the European Central Bank's (ECB) Executive Board.
Private investors need to come clean and commit to science-based targets on climate change, says Paul Simpson. Unfortunately, “there is still money out there for the dirty investments in the short term,” he laments, calling on regulators to take action against opaque finance.
The Bonn Climate Conference (30 April-10 May) has made little progress on negotiations, particularly on the subject of financing. As a result, a supplementary preparatory meeting for the COP24 will be held in Bangkok in September. EURACTIV.fr reports.
The EU’s climate chief Miguel Arias Cañete has vowed to increase the bloc’s funding for climate change adaption, pledging that 20% of the EU’s foreign spending would be allocated to climate-related projects.
The European commission has announced funding of €9bn (£8bn) for action on climate change, one of a flurry of measures from governments, businesses and investors aimed at achieving the goals of the 2015 Paris agreement.
Rich countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. As of September 2017, they had pledged just $10.3 billion. And the question of who should pay remains unanswered. EURACTIV reports from the COP23 in Bonn.
Between coal-addicted Germany, and France that brings ideas but no new commitments, and the EU entangled in its contradictions, the political weight of this COP turned out lighter than expected. EURACTIV France reports.
Director general of French development agency (AFD) was appointed to lead the International Development Finance Club (IDFC), uniting credit institutions worth $3,000 billion. Their objective: to throw their weight behind sustainable development. EURACTIV France reports.
A group of financial experts has set out their vision for hardwiring sustainability goals into the European Union’s financial system, calling on 28-country bloc to stop pouring public money into polluting fossil fuels and focus spending on clean energies instead.
The European Commission's High Level Expert Group on Sustainable Finance delivered its interim report today (13 July). Ingrid Holmes, one of the members of the group, explains how the financial system can help address long-term challenges such as climate change.
The goals of EU energy policy going forward must be ambitious if European countries want investors to provide the capital required to realise a smooth transition to a low-carbon economy and the growth this could generate, writes Stephanie Pfeifer.
Former Norwegian Prime Minister Gro Harlem Brundtland told EURACTIV’s partner El País – Planeta Futuro that public awareness and civil society action is equally important as political commitment in achieving the goals of the Paris Agreement and Agenda 2030.
Less than a month before the start of the COP22 climate summit in Marrakech, EU finance ministers have pledged more funding to tackle global warming. But the exact terms of this promise are yet to be defined. EURACTIV France reports.
International cooperation at the end of 2015, illustrated by the COP21 agreement and the adoption of the SDGs, was the first major milestone. But now effective implementation has to be the priority and the EU’s pensions and investment sector will have a crucial role to play, writes Camilla de Ste Croix.
Pressure is building on global regulators and the European Commission to “stress-test” portfolios of large institutional investors against long-term objectives to reduce climate change, in a move that could shift billions in investment away from fossil fuels.
The EU needs to assess and overhaul all its policies to make sure they fit with the 1.5°C Paris target, and raise more climate finance for developing countries. Anything less would be a kick in the teeth for our vulnerable, ambitious coalition partners, writes Céline Charveriat.