• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
Celebrating our 1,000th edition. The climate news you need
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  FEATURED
Ex-Fossil Workers Convert Old Oilfields to Solar Farms After ‘Rapid Upskilling’ in Alberta June 29, 2022
London Becomes Biggest City to Sign Fossil Fuel Non-Proliferation Treaty June 29, 2022
G7 Miss ‘Golden Opportunity’, Walk Back Pledge to Cut International Fossil Finance June 29, 2022
Soaring Fertilizer Prices Could Deliver ‘Silver Lining’ For Emissions, But Farmers Struggle to Limit Use June 26, 2022
BREAKING: UN Nature Summit, the ‘Paris Conference for Biodiversity’, Moves to Montreal in December June 19, 2022
Next
Prev
Home Climate & Society Community Climate Finance

G19 Plan Connects Infrastructure Investment to Climate Action

July 9, 2017
Reading time: 2 minutes
Full Story: G20 Summit https://www.g20.org/Webs/G20/EN/Home/home_node.html
Primary Author:

President of Russia/G20

President of Russia/G20

 

It hasn’t received much attention since the close of the leaders’ summit in Hamburg, but the 13-page Hamburg Climate and Energy Action Plan for Growth adopted by all but one of the G20 countries includes language that connects infrastructure investment to greenhouse gas reductions and climate resilience, and calls for stronger climate action from multilateral development banks.

“Significant investments will be required in the upcoming 15 years for establishing and modernizing infrastructure,” the action plan states. “This can constitute significant opportunities for stimulating employment, poverty eradication, and growth through the transformation towards sustainable, low-greenhouse gas emission, and climate resilient infrastructure.”

Recalling the broader goal of aligning international financial flows with the goals of the Paris agreement, the leaders’ action plan notes that “mobilizing climate finance from private sources will be key to addressing significant investment needs for both adaptation and mitigation,” and “public finance will continue to play a significant role.”

The G19 agree to create an “enabling environment” for public and private investment consistent with the Paris deal, recommit to mobilizing US$100 billion per year for global climate finance between 2020 and 2025, and recognize that carefully-designed domestic climate policies that preserve environmental integrity “can promote innovation and stimulate investments.”

The plan acknowledges efforts so far by the World Bank and other multilateral development banks to support a low-carbon transition and climate-resilient development, while issuing a gentle call for MDBs to deliver “an effective response to client countries’ demands, including by cooperating with national and regional institutions and fostering the mainstreaming of climate dimensions into development.”

Oil Change International Senior Campaigner Alex Doukas pointed to the gaps in the action plan. “G20 leaders put Donald Trump in the corner for a time out over his absurd climate change denial. They deserve credit for standing united behind the Paris agreement,” he said. “Yet talk is cheap, and unfortunately the G19 failed to take action to demonstrate that they’re serious about climate action by actually ending handouts to the fossil fuel industry.” Doukas added that “all fossil fuel subsidies must end by 2020—a crucial step that civil society groups, major investors, and big insurers are all pushing for.”

During the summit, the African Development Bank identified Canada, Germany, the United Kingdom, and Spain as countries that had agreed to increase their contributions to a special infrastructure preparedness fund for the continent. The donor countries “observed that Africa’s regional integration efforts were being undermined by inadequate infrastructure and that this, in turn, was due to the lack of bankable infrastructure projects in energy, transport, ICT, and water and sanitation which could attract financing for implementation,” the ADB reported.



in Community Climate Finance, Energy Subsidies, International, International Agencies & Studies, UK & Europe, United States

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

London Eye UK England
Cities & Communities

London Becomes Biggest City to Sign Fossil Fuel Non-Proliferation Treaty

June 29, 2022
131
Number 10/flickr
International Agencies & Studies

G7 Miss ‘Golden Opportunity’, Walk Back Pledge to Cut International Fossil Finance

June 29, 2022
152
AJEL / Pixabay
Food Security

Windfall Tax on Food, Fossil, Pharma Giants Would Raise $490B to Solve ‘Catastrophic’ Food Crisis: Oxfam

June 29, 2022
58

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

François GOGLINS/wikimedia commons

Corrosion Problem Shutters Half of France’s Nuclear Reactors

June 29, 2022
227
Keith Hirsche

Ex-Fossil Workers Convert Old Oilfields to Solar Farms After ‘Rapid Upskilling’ in Alberta

June 29, 2022
422
Danielle Scott/flickr

Advocate Urges Ottawa to Intervene Before Ontario Builds Highway 413

June 29, 2022
130
David/flickr

U.S. Supreme Court Expected to Gut Emission Controls as Climate Scientists Petition for Plan B

June 26, 2022
1.2k
Number 10/flickr

G7 Miss ‘Golden Opportunity’, Walk Back Pledge to Cut International Fossil Finance

June 29, 2022
152
London Eye UK England

London Becomes Biggest City to Sign Fossil Fuel Non-Proliferation Treaty

June 29, 2022
131

Recent Posts

AJEL / Pixabay

Windfall Tax on Food, Fossil, Pharma Giants Would Raise $490B to Solve ‘Catastrophic’ Food Crisis: Oxfam

June 29, 2022
58
futureatlas.com/flickr

Ottawa Demands Deeper Fuel Emissions Cuts, Offers Fossils a Double-Dip on Tax Breaks

June 29, 2022
78
Province of B.C./flickr

Comox Joins Municipalities Seeking Ban on New Gas Stations

June 29, 2022
78
/Piqsels

Refocus Agriculture Spending to Cut Emissions, Boost Productivity, OECD Urges Governments

June 29, 2022
29
Jimmy Emerson, DVM/flickr

Public Vigilance Key to Protecting Greenbelts for Climate Resilience, Report Finds

June 29, 2022
36
Miguel V/Wikimedia Commons

Forests Fall Short of Full Carbon Storage Potential, Study Finds

June 29, 2022
64
Next Post
Damien Connor/YouTube

G19 Stands Firm Against Trump, Adopts First-Ever Climate Action Plan

The Energy Mix

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Navigate Site

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Follow Us

No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}