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UK and US to rally efforts to help developing nations tackle climate change

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By illuminem briefings 🌎

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece here in The UK Government website or enjoy below

🗞️ Driving the news: Today the Climate Finance Mobilisation Forum will take place at Windsor, aiming aims to bolster support for net-zero and climate-resilient transitions in emerging economies.
• The meeting will be involving top financiers and philanthropists such as Grant Shapps (Energy Security and Net Zero Secretary) and John Kerry (US Special Presidential Envoy for Climate) aims to bolster support for net-zero and climate-resilient transitions in emerging economies

🔭 The context: Participants are encouraged to exhibit significant investments in climate action, aligning with the Paris Agreement
• To achieve net-zero emissions by 2050, it's estimated that annual clean energy investment needs to surge over seven-fold to over $1 trillion by 2030

🌍 Why it matters for the planet: The key to tackling the climate crisis is collaboration among governments, the private sector, and philanthropy.
• Real change, according to Shapps and Kerry, requires trillions in private investment in addition to public funds

⏭️ What's next: The forum hopes to seed collaborations and actions that accelerate climate efforts, identifying ways for private finance and philanthropies to accelerate climate action on the road to COP28 

💬 One quote: "Today isn’t just about cutting emissions, it’s also supporting countries to achieve a secure, cheaper and home-grown energy system – to grow their economy and create jobs” (Grant Shapps, Energy Security and Net Zero Secretary)

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