Money talks How Baku negotiators could raise $1tn a year
The Guardian|November 11, 2024
Countries meeting in Baku for the Cop29 climate summit are under pressure to find ways to raise money to help poorer nations cut greenhouse gas emissions, shift to a low-carbon economy, and adapt to the impacts of extreme weather.
Fiona Harvey
Money talks How Baku negotiators could raise $1tn a year

At least $1tn a year is needed. Here are some of the main ideas being considered.

Reform of the World Bank, International Monetary Fund and other development banks

The World Bank and other multilateral development institutions are supposed to help poor and vulnerable countries alleviate poverty, develop their economies and give citizens access to basic services. Climate finance should be a major focus. But many developing countries complain that this finance is meagre, difficult to access, costly and bureaucratic.

If the World Bank were to help "de-risk" investments in poor countries, for instance by providing loan guarantees, that could unlock billions in finance from both the private sector and public funds.

The World Bank could also provide far more climate finance if its replenishment round, coming up next month in South Korea, elicits sizeable pledges from donor countries. That prospect may, however, have been damaged by the election of Donald Trump in the US - unless other developed countries step up.

Taxes on profits from fossil fuels

Fossil fuel companies, both private and state-owned, have enjoyed an unprecedented bonanza since Russia's invasion of Ukraine in February 2022. Five of the biggest private companies alone made more than $280bn in profit in the two years after the invasion.

Diese Geschichte stammt aus der November 11, 2024-Ausgabe von The Guardian.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der November 11, 2024-Ausgabe von The Guardian.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS THE GUARDIANAlle anzeigen
Bentancur to get long ban over alleged racist remark
The Guardian

Bentancur to get long ban over alleged racist remark

Tottenham are resigned to Rodrigo Bentancur being given a lengthy ban of at least six matches by the Football Association for making an allegedly racist remark about Son Heung-min.

time-read
1 min  |
November 14, 2024
Kane faces Carsley axe Shock as captain set to be left out for crunch Greece match
The Guardian

Kane faces Carsley axe Shock as captain set to be left out for crunch Greece match

Harry Kane is set to be a shock omission from Lee Carsley's England team for tonight's must-win Nations League match against Greece in Athens.

time-read
3 Minuten  |
November 14, 2024
Infantino to avoid scrutiny with virtual 2026 draw
The Guardian

Infantino to avoid scrutiny with virtual 2026 draw

Gianni Infantino will avoid any scrutiny of the controversial decision to give the 2034 World Cup to Saudi Arabia next month after Fifa opted to stage the qualifying draw for the 2026 tournament as a virtual event.

time-read
2 Minuten  |
November 14, 2024
Gordon heeds England's call as no-shows hinder Carsley
The Guardian

Gordon heeds England's call as no-shows hinder Carsley

While a depleted side face tricky tests against Greece and Ireland, there will be big opportunities for some

time-read
4 Minuten  |
November 14, 2024
Lawrence caps quick Chelsea comeback after Agnew's early strike
The Guardian

Lawrence caps quick Chelsea comeback after Agnew's early strike

Chelsea's aspiration of claiming this season's Women's Champions League was hardly in danger as Murphy Agnew handed Celtic a shock lead.

time-read
3 Minuten  |
November 14, 2024
Paul's big-money fight is a circus but the YouTuber is no clown
The Guardian

Paul's big-money fight is a circus but the YouTuber is no clown

Despite the absurd persona, his business savvy and support of female fighters must be acknowledged

time-read
4 Minuten  |
November 14, 2024
Tyson offers reminder of boxing's glory days before weary return
The Guardian

Tyson offers reminder of boxing's glory days before weary return

Former Baddest Man on the Planet is reflective but determined in open workout as he gears up for inglorious fight with YouTuber, reports

time-read
4 Minuten  |
November 14, 2024
Lineker leaves second BBC presenting role
The Guardian

Lineker leaves second BBC presenting role

Gary Lineker has stepped down from his role as presenter of Sports Personality of the Year (Spoty), the BBC has confirmed.

time-read
1 min  |
November 14, 2024
Coe pulls no punches with his IOC pitch
The Guardian

Coe pulls no punches with his IOC pitch

Sebastian Coe has promised to introduce an \"uncompromising and clearcut\" policy to protect women's sport and to look into awarding prize money to all Olympic medallists if he is elected International Olympic Committee (IOC) president.

time-read
2 Minuten  |
November 14, 2024
Slade vows 'not to shut up shop' against Springboks
The Guardian

Slade vows 'not to shut up shop' against Springboks

England are looking to banish their autumn frustrations at South Africa's expense this Saturday and have vowed \"not to shut up shop\" against the reigning world champions.

time-read
2 Minuten  |
November 14, 2024