As development budgets tighten and climate-vulnerable countries face rising costs, Mafalda Duarte is pursuing reforms intended to put billions more to work without waiting for new donor commitments. At a moment of mounting pressure on global climate finance, Mafalda Duarte is trying to show that multilateral institutions can expand their
The Abu Dhabi project will pair 5.2GW of solar with 19GWh of battery storage in an ambitious effort to deliver 1GW of continuous renewable electricity. ABU DHABI — Masdar has reached financial close on a $6.1 billion solar and battery storage project in Abu Dhabi designed to deliver renewable electricity
BRUSSELS — The European Commission has approved a landmark €63 billion (approximately US$74 billion) French state aid program to accelerate the development of offshore wind energy, clearing the way for one of Europe’s largest renewable energy investments and reinforcing the EU’s drive toward energy security, industrial competitiveness and net-zero emissions.
Days after the World Bank dropped its 45% climate finance target under U.S. pressure, the immediate fight over the benchmark is over. The bigger question now is whether climate resilience remains central to development finance, or becomes politically negotiable. The World Bank’s decision this week to scrap its 45% climate
New research suggests restoring the world’s seagrass meadows could become one of the largest untapped opportunities in nature-based climate finance—particularly for Small Island Developing States and coastal economies. A new peer-reviewed study published in npj Ocean Sustainability concludes that restoring the world’s seagrass ecosystems could generate between USD $1.13 trillion
As governments around the world rethink how to safeguard critical industries amid intensifying geopolitical competition, Portugal is preparing to join a growing number of nations deploying sovereign wealth funds as instruments of long-term economic strategy. Prime Minister Luís Montenegro has announced plans to establish a Portuguese sovereign wealth fund designed
LONDON — At a moment when governments are scaling back funding for climate science and conservation, billionaire philanthropist and former New York City mayor Michael Bloomberg has announced a new $260 million (£196 million) commitment to ocean protection, positioning private philanthropy as an increasingly important force in protecting the world’s
A Major Vote of Confidence in Renewable Gas As Europe races to secure its energy future while accelerating decarbonization, a major new investment into biogas infrastructure is signaling growing confidence in renewable gases as part of the continent’s long-term energy mix. The European Investment Fund has committed €200 million to
In a move that would have been unthinkable just a few years ago, Germany’s sovereign wealth fund has dismantled one of the core pillars of its investment philosophy: the exclusion of weapons manufacturers. The decision signals more than a portfolio adjustment. It marks a profound shift in how Europe—and increasingly
In capitals across Asia, the Middle East, and beyond, a quiet but consequential shift is underway. Governments are no longer relying solely on markets to secure their economic futures. Instead, they are building and deploying sovereign wealth funds at an unprecedented pace—transforming state capital into a primary instrument of geopolitical
