International Climate Finance Director @nrdc.org
No relation to the glacier.
Views my own
Joe Thwaites
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@nrdc.org and @e3g.bsky.social have launched a tracker for countries' multiyear climate finance commitments to developing countries.
We'll be updating it regularly as new pledges come in, and hope it can be a useful resource for govts, media and civil society.
💬 ‘They have this amazing capacity and expertise for managing the world’s oceans.’
Ruth Davis on why small island developing states (SIDS) are key to building healthier oceans around the world.
🤝 @odi.global I UK FCDO I RESI
#biodiversity #conservation
I've attended many climate COPs over the years and it seems some nations... *cough* ...are very well versed indeed in this now-declassified "Simple Sabotage Field Manual" first issued by the CIA in 1944
China has little incentive to position itself as a climate leader and risk assuming 'climate finance' obligations
But China is still channelling large sums into climate-relevant projects around the world
@katelogan.bsky.social + Lily Hartzell explain
backchannel1.substack.com/p/chinas-del...
The more finance, the sooner, the better.
Although the deadline is a decade away and the baseline may not be settled, rich countries can’t be complacent and must immediately get to work scaling up their support for adaptation.
Colleagues @worldresources.bsky.social mapped out ways to do this:
Recognising this, the goal calls for increasing the trajectory of adaptation finance provision. This addresses an issue of previous climate finance goals where funding grew slowly before jumping as the deadline loomed.
Hockey stick graphs are not usually good in climate! @michaelemann.bsky.social
Both options would lead to a higher share of adaptation finance as part of the $300B goal in 2035 (~32% or ~41%) compared to its share of climate finance under the $100B goal in 2022 (28% of $115.9B).
They're also well above projected 2030 levels.
In short, the new goal requires increase from BAU.
The decision doesn't specify a baseline year.
Likely options are 2022 (latest reporting year) or 2025 (end of prior doubling goal and year decision adopted).
2022 levels: $32.4Bx3=$97B
2025 figures aren't due til 2027. They'll likely be higher than 2022. If the doubling goal is met: ~$40Bx3=$120B
The new #adaptationfinance goal complements the international climate finance goals (NCQG) agreed at COP29 last year.
Because it was set within the framework of the #NCQG, developed countries take the lead, all #MDB outflows can count, and other countries are encouraged to contribute voluntarily.
Some thoughts on the new #adaptation #climatefinance goal agreed @cop30brazil.bsky.social:
It wasn’t the 2030 goal that developing countries wanted, but it does address the concern that adaptation finance would stagnate after 2025, when the previous Glasgow goal of doubling from 2019 levels is due🧵
Video
This new tool keeps tabs on countries’ multiyear climate finance commitments.
When it comes to China’s role in accelerating climate finance and the global clean energy transition, the world is grappling with several competing realities.
backchannel1.substack.com
As COP30 triples the adaptation finance goal to $120 billion, we explore what banks, governments and private finance must do to meet it by 2035.
Nearly a year since governments agreed on a set of new international climate finance goals, here’s an assessment of progress and what COP30 needs to deliver to keep on track.
