Egypt climate champion calls for new metric on climate finance

CAIRO - Developing country climate financing needs should start being reframed at the UN climate summit in November, in order to move beyond the outdated - and unfulfilled - US$100 billion that rich nations had pledged to deliver each year, the UN high-level climate champion for Egypt said.the world needs to deliver more financing to help developing nations for their energy transition and ability to adapt to climate challenges such as drought or sea level rise, Mahmoud Mohieldin said.

He said countries were also working to change the perception that climate-related investment in developing countries was too risky by putting together a pipeline of viable climate projects that could be presented at November's summit.

Many questions remain unresolved, including where the funds would come from, and how they would be paid out.

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Egypt climate champion calls for new metric on climate financeCAIRO: Developing country climate financing needs should start being reframed at the UN climate summit in November, in order to move beyond the outdated - and unfulfilled - US$100 billion that rich nations had pledged to deliver each year, the UN high-level climate champion for Egypt said. With food and en
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Egypt climate champion calls for new metric on climate financeCAIRO: Developing country climate financing needs should start being reframed at the UN climate summit in November, in order to move beyond the outdated - and unfulfilled - US$100 billion that rich nations had pledged to deliver each year, the UN high-level climate champion for Egypt said. With food and en
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »