Developing countries, which bear the greatest impact from climate change, received $79.6 billion in 2019, the Organisation for Economic Co-operation and Development said in its latest report on the issue.
The 2019 figure is the most recent available and marked a two percent increase from the year earlier, a sharp slowdown from the rates of earlier years.And watchdog groups have warned that even those numbers may be inflated. "While appropriately verified data for 2020 will not be available until early next year it is clear that that climate finance will remain well short of its target," he said.
Public climate finance from developed countries accounted for the lion's share of the 2019 figure, some $62.9 billion, with another $2.6 billion in government-backed export credits.The rest, some $14 billion, came from private investment mobilised by public mechanisms.
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Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Rich Nations Head to South Africa Seeking Coal Exit DealFour of the world’s richest nations will send a delegation to South Africa as soon as next week to seek a deal to begin closing the country’s coal-fired plants, according to people familiar with the matter. They better come with deep pockets cause SA only have ears for expensive cars and houses in Dubai Good luck. Hope they understand the nature of the hyena they are trying to hold rational discussions with. Corruption tenders loading... But after 14 years they're still not even really open yet🤦♂️ eskom is a travesty
Source: dailymaverick - 🏆 3. / 84 Read more »