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Cautious optimism has emerged that COP26 in Glasgow can clinch a global carbon market deal unlocking trillions of dollars of green investment, with even hold-out nation Brazil signalling a desire for compromise.
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India, Indonesia and the Philippines will join South Africa as the first recipients of a multibillion dollar pilot programme aimed at accelerating their transition from coal power to clean energy, the Climate Investment Funds (CIF) said on Thursday.
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By William Schomberg and David Milliken
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EU countries will be allowed to pump more money into green projects in climate, energy and the environment under new state aid rules to be announced shortly, EU competition chief Margrethe Vestager said on Thursday.
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British finance minister Rishi Sunak pledged on Wednesday to "rewire" the global financial system for net zero, saying London will also commit 100 million pounds ($136.19 million) to make climate finance more accessible to developing countries.