Page 7 - லாரி கோவரிஂக் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Developing nations, UN seek clear plan for promised climate finance
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Critics and backers urge tough rules to revive ailing carbon markets
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By Megan Rowling, Thomson Reuters Foundation
5 Min Read
BARCELONA, July 7 (Thomson Reuters Foundation) - From offshore wind farms in Britain to floating solar power plants in Vietnam, about 13,000 renewable energy projects in nearly 50 countries are waiting for finance - and could create up to 10 million green jobs, consultancy EY-Parthenon said on Wednesday.
In a report, EY said the projects offered $2 trillion in investment opportunities that would generate jobs locally and in supply chains, and would help slash climate-heating emissions and secure a green recovery from the pandemic.
Serge Colle, EY’s global energy advisor, said the research showed there was “huge potential to accelerate private-sector renewables investment” with the right government policies and regulation around the world.
3 Min Read
BRUSSELS (Thomson Reuters Foundation) - Talks to reform an international energy treaty that allows investors to sue states that take climate action are grinding towards failure, according to leaked diplomatic cables seen by the Thomson Reuters Foundation.
The cables suggest that little progress has been made in the last year of negotiations aimed at updating the Energy Charter Treaty (ECT) and bringing it into line with the Paris Agreement on climate change.
Adding to the pressure, more than 400 environmental groups, unions, charities, and NGOs called Tuesday for European countries to walk away from the modernization talks.
The treaty currently allows energy firms in more than 50 nations, from Britain to Uzbekistan, to sue governments that pass climate change laws for losses of anticipated earnings.
Boost to Green Energy Investment Could Create 10
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