This week’s developments highlight sharp contrasts in climate policy and finance. Multilateral banks report record funding, while African leaders demand billions in new support. The U.S. has rolled back oversight panels, and Canada may dilute its oil emissions cap. Disputes over trade, finance pledges, and corporate claims underline persistent global tensions.
U.S. watchdog dismantles climate financial risk panels
The U.S. Financial Stability Oversight Council disbanded two advisory panels that assessed climate-related financial risks, citing regulatory simplification. According to Reuters. Read more
Critics warn this removes expert oversight needed for assessing complex climate risks. Concerns focus on weakened scrutiny of institutions exposed to physical and transition risks.
Africa seeks $50B/year for climate solutions initiative
At a summit in Addis Ababa, African leaders proposed raising $50 billion annually for new climate initiatives, including the Africa Climate Innovation Compact and African Climate Facility. According to Reuters. Read more
The scheme aims to deliver 1,000 innovation projects by 2030. African development banks and private lenders pledged $100 billion toward green energy, though adaptation finance remains insufficient.
Kenya accuses Western nations of breaking climate finance promises
Kenya’s President William Ruto condemned Western governments for failing to deliver promised climate finance and adaptation support, calling it a breach of a “climate blood pact.” According to Financial Times. Read more
He noted cuts in funding from the UK, US, France, and Netherlands. Ruto urged reliable commitments ahead of COP30 and highlighted the gap between pledges and delivery.
IMF restructures climate and gender units amid pressure from U.S.
The International Monetary Fund is reorganising its climate change and gender units into its macro-financial and structural policies division. The change follows criticism from U.S. Treasury Secretary Scott Bessent over “mission creep.” According to New York Post. Read more
Supporters worry the reform will reduce dedicated expertise on climate and gender issues in IMF policy advice. Critics argue it could dilute focus and slow climate risk integration in global financial surveillance.
India calls proposed $300B/year for Global South inadequate
India’s Environment Minister Bhupender Yadav said the proposed $300 billion annual climate finance goal by 2035 for the Global South is insufficient. He estimated India alone will need around $10 trillion by 2070 to reach its net zero target. According to Times of India. Read more
Yadav stressed that climate finance must cover not only mitigation but also infrastructure and resilience. He warned underfunding risks saddling developing nations with unsustainable costs.
US energy secretary downplays climate risks while seeking EU gas deals
U.S. Energy Secretary Chris Wright downplayed climate risk concerns in recent speeches while pursuing new gas supply deals with the EU. According to Reuters. Read more
Environmental groups say the policy shift undermines U.S. credibility in climate diplomacy. Analysts warn it could slow the pace of renewable energy adoption.
Canada may remove oil emissions cap in new climate plan
Canada is considering dropping the oil emissions cap from its climate strategy if oil-producing provinces commit to other environmental concessions. According to Reuters. Read more
The proposal forms part of a new “climate competitiveness” plan due this autumn. Critics argue dropping the cap could weaken incentives for emissions cuts in one of Canada’s highest-polluting sectors.
Brazil to propose forum for climate-trade policy concerns at COP30
Brazil plans to propose a new forum for governments to address disputes over how climate policies affect trade. According to Reuters. Read more
The forum would provide a venue at COP30 for developing and developed countries to air grievances about climate-linked trade barriers. Advocates see potential to balance trade and environmental needs, while critics worry about weakened standards.
U.S. companies maintaining ESG values gain investor advantage
Despite policy headwinds, U.S. companies committed to ESG principles are attracting stronger investor confidence and capital flows. According to Reuters. Read more
Research shows investors reward firms that hold consistent environmental and governance commitments, even if short-term returns are lower. The trend suggests credibility in ESG strategies is becoming a defining factor in investment decisions.
