Climate fund hails ‘new era’ with $500mn bond deal

Quick Summary:

Economists have warned that developing countries will need more than $1tn in external finance annually to pay for the transition to a greener economy and adapt countries to warming temperatures.

The collapse of a coalition of asset managers aimed at driving climate action this week also reinforced fears of declining interest from investors in green investments.

At the UN COP29 climate summit in November, almost 200 countries agreed that rich nations would take the lead in providing at least $300bn for developing countries.

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Article Details

Author / Journalist: Attracta Mooney

Category: MarketsFinanceInvesting

Markets: United States

Topics: Multilateral Countries Other Financial Funds Developing Climate Investors Bond Money Fund

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-15 @ 14:29:13 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 630 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 25177445

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

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