{"id":137122,"date":"2025-01-30T09:00:05","date_gmt":"2025-01-30T07:00:05","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/report-climate-finance-needs-for-vulnerable-countries-to-climb-to-490bn-by-2030\/"},"modified":"2025-01-30T09:00:05","modified_gmt":"2025-01-30T07:00:05","slug":"report-climate-finance-needs-for-vulnerable-countries-to-climb-to-490bn-by-2030","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/report-climate-finance-needs-for-vulnerable-countries-to-climb-to-490bn-by-2030\/","title":{"rendered":"Report: Climate finance needs for vulnerable countries to climb to $490bn by 2030"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/137122\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>New research has revealed that the climate finance needs of vulnerable countries are likely to exceed $490bn annually by 2030 \u2013 far beyond the $300bn by 2035 promised at COP29.<\/p>\n<p><em><strong>Report: Climate finance needs for vulnerable countries to climb to $490bn by 2030<\/strong><\/em><br \/>\nNearly 60% of low-income countries are now in debt. The $490bn figure covers mitigation, adaptation and resilience needs across a group of 70 emerging and developing economies. It comes from a new report released by the Climate Vulnerable Forum (CVF) and the Vulnerable 20 Group of Finance Ministers (V20), along with the Bridgetown Initiative.<\/p>\n<p>The report highlights the financial needs of developing nations already impacted by climate change, and likely to experience worse impacts in the coming years. While the 70 nations included will need $490bn annually for decarbonisation, nature conservation and restoration, and loss and damage, needs for all nations could reach$2.4trn, the report notes. It therefore argues that the commitment for the provision of $300bn a year by 2035, mainly from private sources, agreed to at COP29, is inefficient. It bears noting that previous $100bn annual climate finance target, set in 2009, was only fully met in 2022, two years later than originally planned.<\/p>\n<p>Another key issue is the uncertainty around the proportion of this funding that will be allocated as grants, with wealthier nations yet to make a decision. Developing nations worry that loans, rather than grants, may increase debt burdens for low-income countries, worsening their economic challenges instead of providing the immediate support needed to build climate resilience. The report emphasises that V20 nations, which are among the most vulnerable to climate change, have already started taking action by advancing Climate Prosperity Plans (CPPs) as national strategies. CPPs aim to foster economic growth alongside emissions mitigation and climate resilience. However, without adequate financing, these plans are at risk of falling short of their objectives.<\/p>\n<p>The CVF\u2019s secretary general Mohamed Nasheed said: \u201cVulnerable countries are crippled by debt and high costs of capital, with more spent on interest payments than on health and education in many countries. \u201cThis leaves no room for investing in adaptation and resilience even though this is vital to help communities recover more quickly in a world pummelled by climate change.<\/p>\n<p>\u201cReducing national debt burdens and generating fiscal space for countries will be hugely important to delivering on global climate goals via large-scale clean investments. The solutions set out in this report offer actionable priorities available today.\u201d To address this pressing need for funding, the report outlines ten key \u201csuper levers\u201d that could help mobilise an additional $210bn annually by 2030, enabling V20 nations to build resilience and meet their climate-related investment needs.<\/p>\n<p>These strategies include strengthening country-led economic strategies, such as CPPs and Just Energy Transition Partnerships, which would help coordinate investments, build project pipelines and target adaptation spending across all sectors. Other recommendations include scaling and standardising carbon markets, implementing high-integrity carbon pricing, and rechannelling $100bn from G20 countries\u2019 IMF Special Drawing Rights (SDRs) to provide concessional finance for V20 nations.<\/p>\n<p>The report also suggests using solidarity levies from high-polluting sectors, such as shipping and aviation, to generate $50-100 bn annually for climate finance, as well as repurposing fossil fuel subsidies to fund clean energy and nature-positive investments. It additionally stresses the need for reforming capital adequacy requirements in banking regulations to lower the cost of capital for clean infrastructure projects in emerging markets, expanding local currency solutions to reduce sovereign currency risks, and increasing the affordability of sovereign disaster insurance.<\/p>\n<p>The report warns that unless the V20 nations secure the financial resources needed to build resilience, they could face potential annual economic losses of up to $100bn from climate impacts. The UN\u2019s next annual global climate summit, COP30, is scheduled to take place this November in Brazil.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.edie.net\/report-climate-finance-needs-for-vulnerable-countries-to-climb-to-490bn-by-2030\/\">edie.net<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vau-viikkokatsaus\/report-climate-finance-needs-for-vulnerable-countries-to-climb-to-490bn-by-2030\/\">Report: Climate finance needs for vulnerable countries to climb to $490bn by 2030<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[14746,606,607,608],"class_list":["post-137122","post","type-post","status-publish","format-standard","hentry","category-news","tag-climate-finance","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/137122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=137122"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/137122\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=137122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=137122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=137122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}