Africa needs more green financing to unlock growth: report
Productivity growth in Angola, Nigeria, South Africa, and Zambia has slowed over the last decade, S&P noted.
Productivity growth in Angola, Nigeria, South Africa, and Zambia has slowed over the last decade, S&P noted.
A new report titled “Data Crunch: How the AI Boom Threatens to Entrench Fossil Fuels and Compromise Climate Goals” from the Center for Biological Diversity warns the booming artificial intelligence industry’s high resource consumption threatens the world’s climate goals, despite rosy prognoses of AI’s projected benefits. Co-author Jean Su says that the increasing use of AI for military applications offsets any positives it offers for climate change mitigation. “What we need to do is empower communities and countries, especially in the Global South, to ask what is the public benefit that they are supposed to get from AI, and weigh it very carefully against the severe cost to their climate, to their electricity prices and to their water.”
Sudanese climate diplomacy researcher Lina Yassin is supporting the Least Developed Countries Group at the U.N. climate summit in Belém, Brazil. The group is composed of 44 countries, including Sudan, whose cumulative emissions amount to less than 1% of total global emissions. “They are the countries that have the least amount of resources to respond to the climate crisis,” explains Yassin. Yassin also discusses the humanitarian crisis in Sudan, where the estimated death toll is now at 150,000. “This is a proxy war funded by foreign nationals who have vested interests in Sudan’s resources. … The UAE has been using the RSF militia to illegally smuggle gold out to finance the war and finance their own gold reserves. The UAE is also really interested in Sudan’s agricultural lands.”
At the U.N. Climate Change Conference in Belém, Brazil, we sit down with Colombian environmentalist Susana Muhamad, who served as Colombia’s minister of environment and sustainable development from 2022 to 2025. Muhamad discusses the U.N.'s mandate to mitigate the acceleration of human-caused climate change and condemns the powerful, diverting influence of the fossil fuel lobby. Muhamad, who is of Palestinian descent, also responds to the United States' attacks on boats in the Caribbean and to the ongoing Israeli genocide of Gaza. “These are not issues that are not correlated,” she says. “Humanity can do better. [We] can be very proactive and productive in shifting this situation of climate crisis, rather than continue investing in arms, in armies and in defense.”
Jamaica issued a call at COP30 for wealthy nations to boost financing for poorer ones to help adapt to climate change.
ExxonMobil is proposing a new plan to vote on behalf of its absentee investors, in a novel attempt to silence shareholder dissent.
Some Wall Street firms see a rich opportunity in financing climate resilience, but better policies are needed to draw private capital.
The ODI think tank calculated each nation's fair share based on historical responsibility for cumulative emissions, GDP, and population.
US sanctions saw Lukoil suspended from a coalition of oil majors working together to reduce their methane emissions.