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Public financing: Public financing from developed countries will never be sufficient for this purpose. Funding mechanisms that are independent of public treasuries of the developed countries can substantially complement the mobilisation of L&D funds.
UK-based private power firm Globeleq has contracted Toyota Tsusho Corporation (TTC) to construct a $108 million (Sh13.5 billion) Menengai Geothermal Project in Nakuru.
What is the arrangement for this funding mechanism? Who will pay into the fund? Who is eligible?
Ironically, the UAE has appointed Sultan Al Jaber, the Chief Executive Officer of the Abu Dhabi National Oil Company (ADNOC), one of the world’s largest oil producers, to preside over COP28.
Latest news on COP28, the 28th session of the UN's Climate Change Conference, which will be held from 30 November to 12 December 2023 in Dubai, UAE.