Poorer nations face rising debt servicing costs in 2024 – report
Some of the nations most vulnerable to climate change face a sharp rise in debt service payments in the coming two years, hampering their ability to invest in climate proofing and shoring up their economies, a research report found. The Vulnerable Group of Twenty (V20) - a group of 55 economies exposed to the fallout from climate change - expect debt service payments to rise to $69 billion by 2024 - the highest level in the current decade, according to calculations from the V20 and the Boston University Global Development Policy Centre.
Climate-vulnerable nations demand more financial support in COP26 draft deal
by Megan Rowling | November 11, 2021 | Published by Reuters | READ THE STORY HERE GLASGOW, Nov 10 (Thomson Reuters Foundation) - Vulnerable countries at the COP26 climate talks urged stronger commitments on finance to help them adapt to climate change impacts and repair the damage they are suffering, in response to an early draft deal for the Glasgow summit released Wednesday. The two-week annual conference is due to finish on Friday but often runs overtime as countries squabble over wording and hammer out their differences on how to push forward lagging climate action. Wednesday's provisional texts urged countries [...]
About 150 nations due to deliver stronger climate plans in 2020, tracker shows
Reposting from Reuters: https://www.reuters.com/article/climate-change-politics-idUSL8N2I35EI By Megan Rowling BARCELONA (Thomson Reuters Foundation) - More than three-quarters of countries have indicated they will make stronger commitments under the Paris Agreement on climate change by the end of 2020, despite the economic strain of the coronavirus pandemic, a new tracker showed on Tuesday. According to the tool, launched by the Climate Vulnerable Forum (CVF) of developing countries, 151 governments have confirmed their intention to meet a U.N. deadline to raise their targets to cut planet-warming emissions over the next decade. Of those, 120 nations affirmed they would submit updated climate action plans since [...]