Apr 22, 2021
Barcelona – Pressure on wealthy governments to stop financing polluting coal projects in developing nations is getting results, with more countries expected to announce this week and in coming months that they will no longer provide money for coal.
But the battle is far from won and is now shifting to include oil and gas finance, climate change campaigners say.
Britain has led the way among major donors, saying it would provide no new government financing for fossil fuel projects overseas from this month, with “very limited” exceptions.
The United States is also preparing to announce restrictions, possibly at the Leaders Summit on Climate organized by U.S. President Joe Biden on Thursday and Friday.
World leaders pledge climate co-operation despite other rifts
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In this April 19, 2021, photo, President Joe Biden speaks in the Oval Office of the White House in Washington. (AP Photo/Andrew Harnik)
WASHINGTON – President Joe Biden convened leaders of the world’s most powerful countries on Thursday to try to spur global efforts against climate change, drawing commitments from Chinese President Xi Jinping and Russian President Vladimir Putin to co-operate on cutting emissions despite their own sharp rivalries with the United States.
“Meeting this moment is about more than preserving our planet,” Biden declared, speaking from a TV-style set for a virtual summit of 40 world leaders. “It’s about providing a better future for all of us,” he said, calling it “a moment of peril but a moment of opportunity.”
White House says it was embracing ambitious but attainable goals for international aid to developing countries
Reuters
April 22, 2021
WASHINGTON:
The United States on Thursday said it will boost public climate finance to help poor countries reduce greenhouse gas emissions and adapt to a changing climate, doubling funding by 2024 from average levels hit during the Obama administration.
The White House said it was embracing ambitious but attainable goals for international aid to developing countries given the urgency of the climate crisis and to compensate for a sharp drop in US funding during the Trump administration.
As part of the goal, the White House said that by 2024 it would triple financing of climate adaptation, which focuses on adjustments to current or expected climate change. It said it will work with Congress to enact needed legislation.
Climate campaigners concerned about continued backing for gas
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Try refreshing your browser, or Rich nations under fire for funding gas as bridge fuel overseas Back to video Clean energy investment rising but far smaller than fossil fuels (Updates with announcements at Biden’s Leaders Summit on Climate and approval for UK legal case)
By Megan Rowling
BARCELONA, April 22 (Thomson Reuters Foundation) – Pressure on wealthy governments to stop financing polluting coal projects in developing nations is getting results, with more countries announcing they will no longer make such investments.
But the battle is far from won – and is now shifting to include oil and gas finance, climate change campaigners say.
EXECUTIVE SUMMARY: U S International Climate Finance Plan miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.