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UN Climate Change Secretary Simon Still has called for a substantial increase in climate finance, urging the allocation of $2.4 trillion to combat climate change. This announcement was made ahead of COP29, the upcoming UN climate summit, which is set to focus on significantly scaling up climate finance and making bold emissions reduction commitments. The summit, referred to as an 'enabling COP,' aims to facilitate the necessary financial flows to meet climate action goals. In a high-profile speech in Baku, the UN climate chief emphasized the need for 'torrents, not trickles' of climate finance, indicating that the current level of funding is insufficient to meet the challenges of climate change. The call for increased funding coincides with discussions about financial innovation to support climate and sustainability goals, including 'Howden launches CCS leakage insurance'.
Nice visualization of projected clean electricity capacity and annual growth in 2024 from the EIA's Short-Term Energy Outlook, via @VisualCap. https://t.co/RO3DroKe6z Solar is coming for #1. Better get moving faster, wind sector! https://t.co/mcFKpRbWgB
2024 forecast for #ClimateFinance: wider access to finance for mitigation and adaptation, and bigger flows into emerging economies. Read full forecast on climate finance and other key sectors of climate business from IFC’s top climate experts: https://t.co/cpYPWksWc7 https://t.co/Vip6I7aEY8
New graphic from FERC: Share of USA Total Energy Generation by Fuel Type - Nat gas and nuclear are >50% of energy generation in most regions. - Lots of coal-generation in the Mid-West & "Rust Belt" - Wind/Solar still ramping outside CAISO & SPP, relative to interconnection que. https://t.co/dOPboFeNrB
Interesting new graphic from FERC: Share of USA Total Energy Generation by Fuel Type - Natural gas and nuclear are over 50% of energy generation in most regions. - Still a lot of coal-generation in the Mid-West & "Rust Belt" - Wind/Solar is still ramping up outside CAISO & SPP,… https://t.co/cIusUCQBK7
UN Climate Chief Simon Stil l calls for allocating $2.4 trillion for financing climate programs. In his opinion, this is the only way humanity can make a significant contribution to combating climate change. https://t.co/v8D7JsJfte
UN climate chief calls for $2.4 trillion in climate change funding This proposal was made by UN Climate Change Secretary Simon Still. In his opinion, this is the only way humanity can make a significant contribution to the fight against climate change. https://t.co/HD6GktQe7Z
The UN's next climate summit will be an "enabling COP," focused on drastically scaling up climate finance and making bold emissions reduction commitments. https://t.co/j0lg3o3FmO
This is sort of sneaky fascinating and important, at least to me: there are massive opportunities for financial innovation to help drive climate and sustainability goals “Howden launches CCS leakage insurance” https://t.co/ibJUglwwi7
"Torrents, not trickles" of climate finance needed for COP29 -- UN climate chief lays out markers for climate action in next 2 years during an unusually high-profile speech in Baku. https://t.co/I1zQB1hutc
UN climate chief calls for $2.4 trillion in climate finance https://t.co/rjYpx5qPUR https://t.co/DKZABrYjKk