{
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Global Plastic Pact Negotiations Stalled Amid Calls for Voting and Production Curbs

The recent UN talks in Busan aimed at establishing a treaty to combat plastic pollution ended without agreement, largely due to resistance from fossil fuel-producing nations against capping plastic production. Despite over 100 countries advocating for stringent measures, divisions persisted, with negotiators expressing concerns over economic impacts and the need for higher-level political involvement. The next round of discussions is anticipated to be challenging, with calls for more decisive action to address the plastic crisis.
Climate Home News
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Regulatory & Legal, News Article
13:16 02.12.2024

global talks on plastic pollution face funding and production cut challenges

Plastics negotiations in Busan are at an impasse, with a coalition of 102 countries advocating for production cuts, opposed by oil-rich states like Saudi Arabia and Russia. As talks near conclusion, calls for compromise intensify, while activists warn against a weak treaty that fails to address the full lifecycle of plastics. The financial framework remains contentious, with developing nations seeking a multilateral fund, contrasting with developed countries' preference for voluntary contributions.
Climate Home News
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Finance & Economy, News Article
16:02 29.11.2024

Swiss initiative seeks stricter environmental regulations for financial industry

An alliance of political parties and environmental groups has launched a people's initiative in Switzerland, advocating for stricter environmental regulations in the financial sector. The initiative, titled “For a sustainable and future-oriented Swiss financial centre,” aims to collect 100,000 signatures by May 26, 2026, to prompt a nationwide vote. It seeks to amend the Federal Constitution to ensure the federal government promotes an ecologically sustainable financial centre with appropriate supervision and sanctions.
SWI swissinfo.ch
WWF CHE
Regulatory & Legal, News Article
14:38 26.11.2024

developing nations reject climate finance figure as negotiations intensify at cop29

Large developing countries, represented by Bolivia"s Diego Pacheco, have rejected the proposed $200-300 billion climate finance figure for the new climate finance goal at COP29, calling it unacceptable. They also oppose expanding the base of contributors to include China and wealthy Gulf states, labeling this a "super red line." Meanwhile, Australia and New Zealand have pledged significant contributions to the Fund for Responding to Loss and Damage, with Australia committing AU$50 million and New Zealand NZ$10 million, bringing total donations to $85 million this year.
Climate Home News
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Finance & Economy, News Article
10:06 20.11.2024

COP16 concludes with mixed results and unresolved biodiversity finance challenges

COP16 in Cali, Colombia, concluded without agreement on crucial biodiversity finance, leaving many issues unresolved. While a new "Cali Fund" was established to support genetic material compensation and a permanent body for Indigenous people was created, the failure to secure funding jeopardizes global conservation goals. Observers warn that the lack of a monitoring framework and financial commitments could hinder efforts to protect 30% of the world's ecosystems by 2030.
Climate Home News
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Finance & Economy, News Article
12:26 03.11.2024

countries clash over biodiversity fund at cop16 summit in colombia

At COP16 in Cali, tensions rise over the future of the Global Biodiversity Framework Fund (GBFF), established at COP15 but struggling for contributions. Developing nations advocate for a new fund to enhance their influence, while developed countries, like Canada, resist, fearing fragmentation and increased costs. The GBFF has approved only 22 projects, highlighting challenges in accessing funds, with calls for reform to streamline support for biodiversity initiatives.
Climate Home News
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Finance & Economy, News Article
13:24 24.10.2024
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