An innovative strategy proposed by Avinash Persaud advocates for public funding to support renewable energy loans in developing countries, potentially generating tens of billions for climate finance. At an upcoming UN meeting, Persaud hopes to rally support for this plan that could reshape green investments and ultimately meet the $1.3 trillion annual climate finance target by 2035. Meanwhile, a report from Oil Change International reveals high-income nations plan to expand fossil fuel extraction, revealing a stark contradiction to their climate commitments ahead of critical upcoming climate summits.
Avinash Persaud believes a public-backed renewable energy loan plan could unlock billions in investments for developing countries, driving necessary climate finance urgently.
Research shows developed nations like the US and Canada aim for significant oil and gas expansion, contradicting their pledges to transition away from fossil fuels.
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