News

As the New Collective Quantified Goal on climate finance approaches at COP29, China’s stance is drawing significant attention.

COP29 released a draft climate finance proposal on Nov. 21, but key details regarding the scale, sources, and mechanisms of the funding remain unclear. This leaves member countries with the challenge of reaching a consensus in the coming days.

India and a group of countries including the U.S. and Germany will not agree on a so-called Just Energy Transition Partnership (JETP), a key international deal that was meant to promote the South Asian nation’s climate-friendly transition.

First week of Baku talks marked by low turnout of leaders, Argentina’s withdrawal, and a gulf between blocs’ demands on a new finance goal.

Developed nations have committed to providing billions of dollars of “climate finance” to developing countries. At the COP29 climate summit, nations must decide on a new global goal to replace the existing target of $100bn each year.

The bonds, focused on green projects, can help programmes in developing countries secure lower-cost financing, but competition and sustaining interest remain challenges.

The compensation fund could help fishers from small island and coastal states, but many challenges remain.

China's carbon price has surpassed 100 yuan for the first time since the market's launch in mid-2021, as major polluters ramp up purchases ahead of the implementation of stricter standards.

CarbonPool is set to be the first insurance company in the world with a carbon credit balance sheet. The firm announced the closure of a $12 million funding round on Jan. 29.

Analysts have cut price forecasts for European Union carbon permits for 2024 to 2026, predicting that weak demand from power plants and sluggish industrial demand will impact the market.