What happened at Finance Day? Headline Round-Up #COP27

Nicole Lummis
July 8, 2024

Yesterday was ‘Finance Day’ at COP27 where leaders gathered to discuss finance for nature-based solutions to the climate crisis. Here’s our round up of the key headlines you don't want to miss out on!

1. John Kerry announces expansion of First Movers Coalition with $12 billion commitment

The World Economic Forum and US Special Presidential Envoy for Climate announced the expansion of a coalition of global companies to commit $12 billion in 2030 purchase commitments for green technologies to decarbonize the cement and concrete industry and other hard-to-abate sectors.


2. UN experts demand crackdown on greenwashing of net zero pledges

The High level group released a report saying policies should be ‘about cutting emissions, not corners’.


3. Show us the money: Developing world at COP27 seeks finance details

U.N. experts published a list of projects worth $120 billion that investors could back to help poorer countries cut emissions and adapt to the impacts of global warming.


4. CDP to incorporate ISSB Climate-related Disclosures Standard into global environmental disclosure platform

CDP are to incorporate the ISSB Climate-related Disclosures Standard into its global environmental disclosure platform.


5. COP27: Rich countries must stop stalling talks on climate loss and damage compensation

 Financing for ‘loss and damage’ was on the agenda for the first time. This is a landmark: after decades, high emitters are finally hearing the demand that they compensate low- and middle-income countries (LMICs) for the effects of climate change that many are already feeling.


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