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Showing 1 - 10 of 46 results for "World Bank"

WEF to unlock US$2.8 tr clean energy investment in global majority nations

ROSE MARY PETRASS  |  MONDAY, 22 JAN 2024  |  NEWS
... a recent report produced by the International Energy Agency, in collaboration with the World Economic Forum and the World Bank. Also at the WEF annual summit, leaders were called upon to demonstrate responsible leadership and cooperation in addressing ...

World Bank breaks record with US$5b sustainable development bond

ROSE MARY PETRASS  |  MONDAY, 8 JAN 2024  |  NEWS
The World Bank has launched a $5 billion, seven-year bond set to mature in January 2031. The international development bank seeks to end extreme poverty and promote prosperity, with funds raised by the bond to be used towards furthering Sustainable ...

COP28: Australia signs Glasgow statement to end public finance for fossil fuels

ROSE MARY PETRASS  |  WEDNESDAY, 6 DEC 2023  |  NEWS
... Australia has funnelled up to one-fifth of our international aid annually to multilateral development banks like the World Bank, which are still funding fossil fuel projects. Precious aid dollars should lift people in low-income countries out of poverty ...

Australia joins COP28 gender and just transition partnership

RACHEL ALEMBAKIS  |  TUESDAY, 5 DEC 2023  |  NEWS
... South. The country has also announced US$200 million for SDRs and US$150 million for water security. In addition, the World Bank has announced an increase of US$9 billion annually to finance climate-related projects. Following the announcement of a loss ...

COP28: Climate finance, carbon markets take centre stage

ROSE MARY PETRASS  |  MONDAY, 4 DEC 2023  |  NEWS
... Level Expert Group on Climate Finance (IHLEG) that underpinned the declaration was released at the start of COP28. The World Bank increased its climate finance target to 45% to deploy over US$40 billion per year by 2025, of which US$9 billion is additional ...

COP28 day one recap: US$429m loss and damage fund

ROSE MARY PETRASS  |  FRIDAY, 1 DEC 2023  |  NEWS
... annually and rising. The fund does not include any mandate that wealthy nations pay into it. It will be set up under the World Bank and be reviewed every five years. 77 developing nations threatened to walk out on talks earlier this year if the bank ...

Preparing for COP28: nature and climate integration

ROSE MARY PETRASS  |  TUESDAY, 14 NOV 2023  |  NEWS
... "nothing to do with compensation and liability". In a draft deal put forward this month, committee members put the World Bank in charge of a loss and damage fund for the initial four years. Clean tech is also expected to take centre stage. The UAE is ...

Record climate spending for low and middle-income economies

ROSE MARY PETRASS  |  TUESDAY, 17 OCT 2023  |  NEWS
... (6%) on climate change adaptation finance. The amount of private finance stood at US$51.9 billion. This came as the World Bank Group and International Monetary Fund held annual meetings in Morocco where increasing public climate finance for low and middle-income ...

New Asia-based carbon standards body promises quality carbon credits

ROSE MARY PETRASS  |  THURSDAY, 14 SEP 2023  |  NEWS
... harmonises all carbon credit data from project registries, set up by the International Emissions Trading Association, the World Bank and the Singapore Government.

Global development banks release joint principles towards Paris alignment

ROSE MARY PETRASS  |  THURSDAY, 22 JUN 2023  |  NEWS
... Agreement while also defining financing coal- and peat-related activities as not aligned. The MDBs involved include the World Bank Group, Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank, European Bank ...
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