climate finance

'They're Done': CNBC's Jim Cramer Says Fossil Fuel Industry 'In the Death Knell Phase'

Read time: 3 mins
Jim Cramer on CNBC

By Andrea Germanos, Common Dreams. Originally published on Common Dreams under CC BY-SA 3.0 US.

Climate campaigners drew attention to CNBC's Jim Cramer's comments on Friday, January 31 that he's “done with fossil fuels” because they're “in the death knell phase.”

Cramer added that “the world's turned on” the industry as they did with tobacco.

‘Uninsurable and Unhedgeable’: Central Banks Warn of Financial Crisis from Climate Change

Read time: 6 mins
Flooded street signs

A future climate disaster, or “green swan” event, could bring down the global financial system, according to a new report from the Bank for International Settlements (BIS), an international financial organization that serves as a bank for central banks around the world.

An Indian Perspective on the UN Climate Meeting: Not Much Help for the World’s Poor and Vulnerable

Read time: 6 mins
Brahmaputra River in India

By Arun Agrawal, University of Michigan

The international climate change conference that concluded in Katowice, Poland on Dec. 15 had limited ambitions and expectations — especially compared to the 2015 meeting that produced the Paris climate agreement. It will be remembered mainly for its delegates agreeing on a common “rulebook” to implement existing country commitments for reducing emissions.

The deal is vital. It keeps the new global climate regime alive. It maintains a path to deliver financial and technical assistance to vulnerable countries and peoples. Actors with quite divergent interests, including the United States, the European Union, oil producing states, China, India, and small island nations all accepted a common approach to measuring progress.

But from my perspective as a social scientist focusing on conservation and international development, the technical orientation of the Katowice meeting failed to match the urgency of needed climate action. Negotiators made little progress toward deeper emissions cuts. Nor did the meeting do much to help the most vulnerable people, ecosystems, and nations.

At UN Talks, Rich World Faces Questions on Who Will Replace US Climate Cash

Read time: 4 mins
US Climate Action Center at COP23 UN Climate Talks in Bonn 2017

By Climate Home News

The rich world has a question to answer, according the chair of a powerful bloc of developing countries: what are they going to do about the cash promises reneged on by Donald Trump’s U.S.?

The withdrawal of U.S. climate finance by the Trump administration has left other developed countries with a dilemma. The commitment they made — to move $100 billion every year to poor countries to help them cope with climate change — was collective.

The U.S. is withholding $2 billion pledged to the UN’s Green Climate Fund and across the wider climate finance sphere, its retreat leaves a bigger hole.

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