From renewable power and climate finance to digital infrastructure and food security, the UAE-Kenya relationship is becoming a test of how Gulf capital can support Africa’s climate transition. The climate relationship between the United Arab Emirates and Kenya is evolving into something broader: an investment partnership linking clean energy, infrastructure,
One French lender financed no fossil fuels at all last year, while the world’s 65 largest banks pushed a decade of oil, gas, and coal lending past $8.7 trillion. The gap between the greenest banks and the rest of the global banking system is no longer a matter of degree.
A year of mass exits from voluntary climate coalitions redrew the map of climate leadership in banking, leaving a narrow field of European lenders and values-based institutions. The architecture governing climate commitments in global banking was assembled in a single year and dismantled in another. Between December 2024 and October
WASHINGTON — The World Bank has raised $4 billion through a new seven-year Sustainable Development Bond after receiving more than $11 billion in orders, underscoring a broader shift in global finance: large pools of development capital remain available, but investors are becoming more selective just as governments face intensifying competition
From Carbon Markets to Climate Resilience, Mikko Ollikainen Is Helping Shape the Next Era of Adaptation Finance As governments prepare for the UN General Assembly in New York and COP31 in Antalya, adaptation finance is moving back toward the center of global climate diplomacy. That puts Mikko Ollikainen, Head of
A new international accounting standard is giving governments a clearer path to recognize certain natural resources as public assets, as ministries of finance increasingly bring nature into decisions about national wealth, budgets and investment. For decades, governments have accounted for roads, buildings, financial holdings and public debt while many forests,
COP29 set the target. COP30 produced the roadmap. As governments turn toward COP31 in Türkiye, the unresolved challenge is how to turn a $1.3 trillion climate-finance ambition into capital that actually flows. At COP29 in Baku, governments agreed that developed countries would take the lead in mobilizing at least $300
The Phoenix Species Project will provide sustained funding and technical support to locally led recovery programs in 30 countries, testing whether major philanthropy can help address a persistent gap in global conservation. The Bezos Earth Fund and conservation organization Re:wild have launched a $200 million initiative to support the recovery
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
