Sam Goodman

Lots of commentary on the #ICJ advisory opinion on obligations of States in respect of #climate change.

One thing I haven't seen discussed yet, which could have major implications for climate negotiations where developed or developing country status is key to so many obligations, is para 226:

BREAKING #COP29 FINAL (?) TEXTS

A new package of texts has been published as "draft decisions" – usually means final, but given all we've seen here, who knows

– $300bn finance goal
– "Baku to Belem roadmap to $1.3tn"
– no stocktake progress tracking, just a 2yr chat

www.carbonbrief.org/...
1/3

Yesterday at COP29, MDBs announced that they estimate their public climate finance for low- and middle-income countries will rise 60% from $74.9bn in 2023 to $120bn/yr by 2030, and that this will mobilize $65bn in private finance.

$185bn from MDBs alone.

Good sign for the NCQG.

In light of yesterday's big MDB #climatefinance announcement at COP29, we've updated the business-as-usual scenario total in our #NCQG modelling from $173bn to $197bn in 2030.

More details here: www.nrdc.org/bio/joe-thwa...

It also proposes (in brackets) putting the World Bank as the host of the Financial Intermediary Fund.

The board proposed by the U.S. government would include members from civil society and the philanthropic sector.

The board proposed by the U.S. government would include members from civil society and the philanthropic sector.

The U.S. submission for the loss and damage fund proposes three operational modalities:
1. Slow Onset Events (SOE) Sub-Fund
2. Recovery and Reconstruction Sub-Fund
3. Small Markets Sub-Fund

unfccc.int/sites/defaul...

Also, check out my interview with of Julie-Anne Richards of the Loss and Damage Collaboration on her groundbreaking report on the Loss and Damage Finance Landscape and proposal for a $400 billion fund.

larutadelclima.org/wp-content/u...

What should we expect from the #lossanddamage Transitional Committee's meeting next week? Check out La Ruta del Clima's publication: A Mandate from Sharm which breaks down the work of the Transitional Committee.

larutadelclima.org/wp-content/u...

‘Nature needs money’: Lula tells rich countries to pay up and protect world’s rainforests Brazilian president says developed nations that over centuries have pumped emissions into the atmosphere must ‘pay their bit’

For two centuries, industrialized nations filled the world’s atmosphere with pollution, Lula declared, “and they now need to pay their bit to restore part of that which was wrecked”.

https://www.theguardian.com/world/2023/aug/09/lula-brazil-amazon-rainforests-money

Portugal’s bid to attract foreign money backfires as rental market goes ‘crazy’ Government incentives and deregulation have brought digital nomads, Airbnbs and ‘golden visas’ – but steep housing costs for locals

“Before, you had people gentrifying neighbourhoods,” he says. “Now, with remote working, you can gentrify countries.”

Fossil fuel levies in action!