Poverty + Development

Lure of climate projects proves irresistible for financiers

Intended Nationally Determined Contributions (INDCs) are bringing together financiers and developing countries in the fight against climate change

By David Fogarty for The Straits Times

PARIS – With expectations high that a global agreement on fighting climate change will be sealed within days in Paris, investors, donors and lawyers are already working on what comes next: stitching together financial deals to help poorer nations meet their climate plans.

In the run up to the two-week Paris talks, nearly 190 nations submitted a variety of national climate action plans, which are the foundation of a Paris agreement.

Some plans are unconditional, with hard targets to cut emissions and pledges to boost green energy capacity; some are conditional on external financing; some are more aspirational.

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