Tuesday, March 17

Tag: Climate

Darway Coast to benefit from N10 billion climate finance
16Mar By Emeka OkaforNo Comments
Reports

Darway Coast to benefit from N10 billion climate finance

Darway Coast, an enterprise specializing in renewable energy, will gain from a climate finance blending facility valued at N10 billion (£10 million). This was announced on Wednesday, November 9, 2022, by credit guarantor InfraCredit in an official statement released that day. In a declaration, Darway Coast Nigeria Limited’s green debt issuance—the inaugural transaction under InfraCredit’s clean energy financing program—was noted for its credit enhancement due to a co-financing arrangement with the £10 million climate finance blending facility, financed by the UK Foreign, Commonwealth and Development Office (FCDO). The financing will be utilized to establish six off-grid communities in the southern Nigerian states of Rivers and Abia with isolated solar mini-grids that have a cumulative ca...
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COP27: US announces $150 million support for climate adaptation in Africa
16Mar By Emeka OkaforNo Comments
Reports

COP27: US announces $150 million support for climate adaptation in Africa

Joe Biden, the leader of the United States, declared $150 million in support for climate adaptation projects in Africa on Friday. This announcement was made during his speech at the ongoing Conference of Parties (COP27), also referred to as the climate summit, occurring in Egypt. The destiny of the globe hinges on curbing climate change, stated Mr. Biden, who further remarked that there is no justification for neglecting financial support for clean energy in developing countries. “To fundamentally alter the emission trend, every nation must take action,” he stated. America has aligned itself with a coalition of nations that have committed financial resources to tackle climate change adaptation challenges in Africa, including the United Kingdom and the Netherlands. Even thoug...
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COP 27: EU announces €1 billion for climate adaptation in Africa
16Mar By Emeka OkaforNo Comments
Reports

COP 27: EU announces €1 billion for climate adaptation in Africa

To assist Africa in adjusting to the evolving climate, the European Union has declared a €1 billion grant for the continent. As stated by Frans Timmermans, the executive vice president of the European Commission, this is accurate. During his address on November 16 at COP 27, he emphasized that COP 27 was an African COP and focused on adaptation. Timmermans remarked: “Africa has made the smallest contributions to the situation we find ourselves in today. Nevertheless, numerous countries on this continent are among the most susceptible to climate change, experiencing greater distress than many other regions. Hence, we need to enhance our efforts regarding adaptation in Africa. “That is why I am pleased to announce at this gathering that together, the European Union and four me...
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Climate fund breakthrough offers ‘hope’ at UN COP27 talks
16Mar By Emeka OkaforNo Comments
Reports

Climate fund breakthrough offers ‘hope’ at UN COP27 talks

Here's a rewritten version of the original text with synonyms and altered sentence structures while preserving HTML tags and format: With Pakistan and the European Union signaling advancements on the contentious issue of “loss and damage” financing for nations vulnerable to climate change, COP27 host Egypt hurried to salvage UN climate discussions on Saturday. Delegates from nearly 200 countries have congregated for two weeks at the COP27 in Egypt with the objective of enhancing climate action as the globe confronts a growing number of extreme weather events. However, disagreements surfaced regarding elevating commitments to address global warming, as well as the stipulations under which affluent polluters furnish “loss and damage” financing for nations affected by natur...
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