Results for: Climate finance

A new World Bank report highlights the devastating impact of climate change on education, with 400 million students facing school closures due to extreme weather since 2022. The report emphasizes the urgent need for increased climate finance directed towards education, demonstrating that a small investment could significantly mitigate learning losses. The report also reveals a significant gap between the demand for green skills and the skills students are receiving, underscoring the importance of incorporating climate change education into curricula.

India is gearing up for the upcoming COP29 climate conference, navigating the potential impact of the European Union’s carbon border adjustment mechanism (CBAM) on its exports. The EU’s proposed carbon tax on energy-intensive goods, including metals, has raised concerns about trade disruption and economic implications for developing nations. India, representing the global south, will advocate for climate finance, adaptation, and mitigation measures, while maintaining its commitment to sustainable development and biodiversity conservation.

Opportunity Finance Network (OFN) has been awarded a $2.29 billion grant from the Environmental Protection Agency’s (EPA) Clean Community Investment Accelerator (CCIA) program, the largest award under the program. This historic investment will be used to integrate clean energy finance into the community development finance industry, increasing access to capital in underserved communities nationwide.

India’s Finance Secretary Ajay Seth discusses the country’s plans to develop a climate finance taxonomy, improve its sovereign credit rating, recalibrate the infrastructure financing framework, and simplify overseas investment routes for foreign investors. The interview sheds light on the government’s approach to addressing climate change, bolstering the economy, and attracting foreign investment.