The true value of money provided by developed countries to help developing nations respond to the climate crisis may be just a third of the amount reported, according to Oxfam estimates published today.
Today’s proposal by the European Commission to cap support for biofuels made from food crops at 5% of the demand for energy in transport sends a welcome but long overdue message to markets
Progress achieved during the past two weeks at Bonn will come to nothing if developed countries don’t scale up their ambition. The mood has been more constructive but the disagreements that derailed the Copenhagen talks are still to be resolved.
A High Level Panel to explore new ways of raising $100 billion a year to help poor countries adapt climate change and reduce their emissions was launched by the prime ministers of the UK and Ethiopia and the UN Secretary General today.
Oxfam warned EU Finance Ministers, who hailed Europe’s success in meeting its Copenhagen climate finance commitments at a meeting in Brussels today, used clever accounting to make up the fi
Negotiators avoided a show-down over crunch issues like finance and increasing near term emissions cuts, but they are only delaying the inevitable. A clearer mandate from Heads of State and ministers is needed to ignite the talks and ensure key questions are answered.
After another year of extreme weather, developing countries face a looming climate ‘fiscal cliff’ at the end of 2012. Yet new Oxfam research finds most climate finance pledges so far have been recycled funds or loans.
South Africa has today tabled its climate action plan for Paris, committing to put a lid on rising emissions through to 2030. How low they are able to plateau will depend on international support meaning so climate finance will be key to unlock greater ambition, says Oxfam.