Next week's U.N. climate conference has much to discuss, from financing the transition to clean energy to protecting the world's forests and future-proofing its cities. But some efforts will get more attention than others.
FUTURE OF FOSSIL FUELS
But the energy disruption caused by war in Europe has led several European Union members to reopen or extend coal plants' life and to lock in liquefied natural gas shipments. Meanwhile, China continues to approve new coal mines, and Vietnam and Indonesia seek to boost coal production. Frustrated by wealthy nations' failure to meet past climate financing promises, developing countries this year are united in demanding that afund be established. The United States and the European Union have shown more openness to having a serious discussion, but remain wary of creating a fund.
To date, about a quarter of that financing has gone to projects for adapting communities for a warmer world. Low-income and climate-vulnerable countries want to ensure that the share spent on adaptation is doubled by 2025 - a pledge made at last year's U.N. climate talks in Glasgow, Scotland. That's still shy of what experts say is needed: a report by the U.N. Trade and Development office estimates adaptation costs in developing countries will total $300 billion in 2030.
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