Tag: Multilateral Development Banks

After two-and-bit weeks of negotiations, the outcome of COP27 includes some firm steps forward on climate action. A historic loss and damage fund for responding to escalating climate impacts, renewable energy singled out as the route to addressing the energy crisis, and strong calls to reform international finance institutions to unlock more finance and fiscal space for climate action – along the lines of Barbadian PM Mottley’s Bridgetown Initiative – demonstrate climate collaboration in the face of turbulent geopolitics.