Just transition

At the COP 30 summit Belém, Europe did not get what it would have liked. Countries agreed to strive to triple funding for adaptation. But a plan to phase out fossil fuels did not come about, despite a back-guard battle by the EU.

The initiative, which is being driven by Asian carbon project developer Varaha, will support the transition of over 337,000 smallholder farmers toward regenerative practices.

The funding marks British International Investment’s first climate-directed debt facility in Vietnam, aimed at helping the country achieve net-zero emissions by 2050. 

The fund will provide non-dilutive and subordinated risk capital to SMEs operating in the textile and fashion supply chains in India, Bangladesh, Vietnam and Turkey.

Ocean Panel’s paper on ocean employment highlights the challenges and opportunities for employment and economic growth in the transition to a sustainable blue economy.

The guarantee will support the expansion of KOKO Networks which supplies bioethanol-based cookstoves and fuel to low-income households, helping to replace charcoal and wood with a cleaner alternative. 

The venture, which was started by a firm chaired by former US vice president Al Gore, will use the money to accelerate investment in natural climate solutions.

Financing for climate change initiatives and a just transition just got harder with the return of Donald Trump to the White House, but development banks meeting in South Africa resolved to step up efforts to help close the funding gap.

The Baku climate change summit produced an agreement by governments to increase spending on climate mitigation and adaptation, but how much of this finance will be used to leverage private sector funding remains to be seen.

Shell’s societal impact director tells Impact Investor why the oil giant started a just transition-focused impact fund aimed at helping vulnerable households and small businesses navigate the energy transition.