Climate finance goals declared but campaigners highlight omissions over fossil fuels and poor nations’ support
The world’s publicly financed development banks have pledged to tie together their efforts to rescue the global economy from the Covid-19 crisis and the climate emergency, using their financial muscle to assist a green recovery for poor countries.
But the banks stopped short of pledging an end to fossil fuel finance, and did not set out firm targets for how much funding they would devote to a green recovery in a declaration signed on Thursday by 450 development banks worldwide.
Continue reading…Climate finance goals declared but campaigners highlight omissions over fossil fuels and poor nations’ supportThe world’s publicly financed development banks have pledged to tie together their efforts to rescue the global economy from the Covid-19 crisis and the climate emergency, using their financial muscle to assist a green recovery for poor countries.But the banks stopped short of pledging an end to fossil fuel finance, and did not set out firm targets for how much funding they would devote to a green recovery in a declaration signed on Thursday by 450 development banks worldwide. Continue reading…