COP 26 Day 3 | Who’s paying for it?
Euronews Green delivers a Special COP26 email to my mailbox every day during the two weeks it is running (01-12 November 2021). I’ll publish it in its entirety for those who are interested. This is the second in the series.
Today’s takeaway
With world leaders gone and their big speeches delivered, COP26 negotiators turned their focus to money on Tuesday.
Cash pledges from both governments and the private sector poured in as COP26 Finance Day wrapped up.
The UK presidency said that wealthy countries would deliver on their promise to provide $100 billion a year (€86 billion) to finance climate-related projects in the developing world, after failing to meet the initial 2020 target.
And in one of today’s most discussed announcements, the world’s largest financial players pledged a massive $130 trillion (€112 trillion) of private capital to decarbonise the economy, while the UK vowed to become “the world’s first net-zero aligned financial centre.”
But climate activists were calling for scrutiny of investors’ motives, warning that the same financial players who profited from fossil fuels were now posing as green champions.
If you weren’t able to follow along on Tuesday, here are the six key takeaways from day 2 of COP26.
At a glance
Don’t blame the climate crisis on India and China, campaigners urge
The Indian Prime Minister’s announcement that the country will reach net zero emissions by 2070 has been met with mixed reactions from COP-watchers. But environmental campaigners say it is “deeply unfair” to blame middle-income countries for the climate crisis.
Read more
What is the ‘carbon budget’, the latest term coming out of COP26 talks?
“Carbon budgets” is one of the most-often mentioned terms at the COP26 talks in Glasgow, but many are wondering who set them and what role they play in fighting climate change.
Read more
These countries are forcing banks to reveal their climate impact
New Zealand has introduced a new law that forces its financial institutions to disclose their climate impact. These other countries have already taken similar steps
Read more
Social exclusive
2 Responses to “As Seen from Afar 11/03/2021”
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Comment from Mitch –
It all sounds so nice, but then you’ve got Boris on his private jet. So, we will see. I’ve become cynical about all the good intentions.Mitch
Goes along with each of the billionaire space trips spewing more than the poorest billion people spew in a year. Also the money cannot be in the so-called carbon credits that just moves who “owns” the carbon around without reducing it like earlier funding for poorer nations going to corporations under that scheme.