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politics1d ago
Don’t mention the climate: Trump creates ‘beyond absurd’ situation at global finance talks
- At IMF and World Bank spring meetings in Washington, delegates from up to 189 countries confront pressure to avoid mentioning climate in discussions.
- The U.S. push on climate language comes as Scott Bessent urged the World Bank to finance all energy sources, complicating climate targets.
- Experts say sidelining climate talk could jeopardize the new climate change action plan (CCAP) for major funders.
- World Bank and IMF are under pressure to maintain climate finance targets while funding energy projects.
- Cop29 targets aim for $1.3 trillion yearly climate funding to the developing world by 2035, with developed countries contributing $300 billion.
- World Bank’s climate funding track record shows 48% of financing qualified as climate co-benefits in the last fiscal year.
- World Bank officials defend financing that supports low-carbon and resilient infrastructure while acknowledging demand from clients.
- Analysts say climate finance accounting and reporting could evolve, clarifying what counts as climate-related funding.
- The Guardian reports tension amid geopolitics and Iran ceasefire as the meetings unfold.
- Senior staff warn that US pressure could push climate policy into backroom deals rather than open debate.
- Leaders in developing countries fear reduced funding for climate adaptation amidst ongoing oil volatility.
- The Guardian notes that the spring meetings could shape long-term climate finance architecture.
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