Climate Change, Climate Funding, Organisation For Economic Cooperation And Development Oecd

Climate Change, Climate Funding

Lukewarm: Rich states set to fall short of US$100b climate funding goal, says OECD | Malay Mail

Lukewarm: Rich states set to fall short of US$100b climate funding goal, says OECD | Malay Mail

17/9/2021 7:01:00 PM

Lukewarm: Rich states set to fall short of US$100b climate funding goal, says OECD | Malay Mail

BRUSSELS, Sept 17 — Wealthy countries likely missed a goal to contribute US$100 billion (RM417 billion) last year to helping developing nations deal with climate change , according to the head of the Organisation for Economic Co-operation and Development (OECD), after increasing funding by less...

channel for the latest updates.BRUSSELS, Sept 17 — Wealthy countries likely missed a goal to contribute US$100 billion (RM417 billion) last year to helping developing nations deal with climate change, according to the head of the Organisation for Economic Co-operation and Development (OECD), after increasing funding by less than 2 per cent in 2019.

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Rich countries are under pressure to commit more funds before the COP26 climate summit in November, where world leaders will attempt to strike deals to cut emissions faster and avert disastrous levels of global warming.In an update on climate finance, the Paris-based OECD said donor governments contributed US$79.6 billion in 2019, the latest year for which data are available compared to US$78.3 billion in 2018.

It means a huge jump — of US$20 billion — in funding would have been needed last year for developed countries to meet their target to contribute US$100 billion in climate finance to poorer countries each year from 2020.The outbreak of the coronavirus pandemic in 2020 prompted governments around the world to divert funding to shore up their local economies, reinforcing concerns that climate funding contributions that year will have taken a hit. headtopics.com

“While appropriately verified data for 2020 will not be available until early next year, it is clear that climate finance will remain well short of its target,” OECD Secretary-General Mathias Cormann said, calling the 2019 increase “disappointing”.UN secretary general Antonio Guterres said this week the COP26 talks risk failing because of mistrust between rich and poor countries — with tensions stoked by the unfulfilled climate finance pledge.

Most of the 2019 funding focussed on cutting emissions in developing countries, while only a quarter of contributions went on climate adaptation, the OECD said.The contributions include loans and grants, plus private investments which public bodies helped mobilise.

Without support from rich nations, developing countries say they cannot make the huge investments needed to cut emissions or bolster their defences against worsening storms, floods and rising seas.The EU this week committed more climate funds for developing countries, and urged the United States to step up.

The Biden administration in April committed to double US public climate finance by 2024 compared to average levels during the Obama administration. Experts and campaigners are urging the world’s biggest economy to do more. — Reuters Read more: Malay Mail »

Nur Sajat residing in Sydney suburb, seeks to start afresh

PETALING JAYA: Controversial cosmetics entrepreneur Nur Sajat, who is being sought after by local authorities is currently in Sydney, Australia.

City defender Ake says father died minutes after Champions League goal | Malay MailMANCHESTER, Sept 17 ― Manchester City defender Nathan Ake said his father died a few minutes after he scored in yesterday's 6-3 Champions League win over RB Leipzig. Ake, 26, opened the scoring with a powerful header in the 16th minute, netting his first goal in the Champions League and second...

US retail sales rebound 0.7pc in August despite falling car sales | Malay MailWASHINGTON, Sept 16 — US retail sales posted a surprise 0.7 per cent rebound in August despite another sharp drop in car sales, the government reported today. The increase, taking sales to US$618.7 billion (RM2.5 trillion), defied expectations for another drop, after the indicator measuring...

US judge sets back Prince Andrew’s bid to avoid accuser’s lawsuit | Malay MailNEW YORK, Sept 17 — A woman who accused Britain’s Prince Andrew of hiding from her sexual assault lawsuit can try an alternative means of serving her legal papers so Queen Elizabeth’s second son can address her claims, a US judge ruled on Thursday night. US District Judge Lewis Kaplan in... It's Karma and women going after him, undoubtedly!

Macron says French forces killed Islamic State leader in Sahara | Malay MailPARIS, Sept 16 ― French President Emmanuel Macron said yesterday French military forces had killed Islamic militant Adnan Abu Walid al-Sahrawi, the leader of Islamic State in the Greater Sahara. “It's another major success in our fight against terrorist groups in the Sahel,” Macron said in a...

US move to dislodge France from Australia submarine deal is incoherent, say French ministers | Malay MailPARIS, Sept 16 ― The United States' decision to push France aside from a deal it had signed with Australia to procure submarines shows a lack of coherence at a time the two allies are facing common challenges in the Indo-Pacific region, France said today. The United States, Britain and Australia...

Australian minister says US, UK submarines were better choice | Malay MailWASHINGTON, Sept 17 — Australia’s defence minister said Thursday that US-backed nuclear submarines were a better choice after France was outraged by Canberra scrapping a major deal for conventional ones. “In the end the decision that we have made is based on what is in the best interest of...