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Hannah Bond is co-CEO at ActionAid UK.

This month has been unprecedented, even in a news cycle that has grown increasingly immune to ever-worsening climate catastrophes. After Beryl, a powerful category five hurricane, smashed its way across the Caribbean, an alarming report by the Copernicus Climate Change Service found that the planet has breached 1.5 degrees Celsius of warming for the twelfth month straight.  

For a new UK government pledging to take strong climate action at home, this must be a wake-up call for it to act on its historic responsibilities as a major global greenhouse gas polluter. These two alarming events alone show why it must put climate finance at the heart of its climate agenda as COP29 rapidly approaches. 

In Hurricane Beryl’s shadow, loss and damage fund makes progress on set-up

The Caribbean is one of the regions most at risk of climate change, with 70 percent of its population living or working in coastal areas surrounded by ever-warming seas that make hurricanes like Beryl more common and more violent. While a category five hurricane is unprecedented this early in the year, forecasters have already predicted that the region could experience up to seven severe hurricanes between now and the end of October.  

Extreme climate shocks are not only wreaking havoc, claiming lives, and destroying whole communities – they are also severely affecting the region’s tourism-dependent economies. Already it’s been estimated that the clean-up alone will cost tens of millions of dollars – a cost that doesn’t even begin to factor in what’s needed to rebuild destroyed communities still paying the price of previous disasters – crises that are gendered in their nature.  

Costly damage

Women and girls are more than 14 times more likely to be killed by climate shocks, according to Women’s Environmental Leadership Australia, while our own research found that women also face an increased risk of non-economic impacts such as gender-based violence and forced child marriage.

Hurricane Maria – the deadliest Atlantic hurricane to make landfall in the 21st century – cost the island nation of Dominica an estimated 225 percent of its GDP, while Hurricane Irma in the same year cost Antigua and Barbuda more than $136 million in damages, with the tourism industry representing around 44 percent of all losses.  

Even seven years on, the scale of the destruction has meant that communities are still rebuilding while dealing with hurricanes that worsen with intensity and frequency with each passing year. Yet, despite this, small island nations that have only contributed around 1% of all global carbon emissions, have struggled to unlock climate finance, accessing a mere $1.5bn out of the $100bn pledged in total to Global South countries.   

Negative debt spiral

To make matters worse, countries across the Caribbean have no choice but to turn to international financial institutions and take on eye-watering levels of debt to help communities regain their footing. Debt laden with restrictive repayment conditions further locks countries into a negative spiral – forcing governments to shape their economies and societies in order to service their debts.  

All this means that small island nations are left to play catch up, forever stuck on the back foot. Instead of spending the meagre levels of finance pledged to resilience-proofing their economies and communities, loans are used to service debts while interest rates for repayments globally remain at a record high.  

In its manifesto, Britain’s Labour Party spoke about “tackling unsustainable debt” as a “priority area” in its global commitments – indeed a positive step forward. But in power we need it to act and end the colonial debt system and support countries in the Caribbean and beyond move towards a just and climate resilient future. 

The Loss and Damage Fund must not leave fragile states behind

For a new government keen to show global leadership on climate, this year’s COP summit is a vital moment for the UK to play a much stronger role on climate finance than its Conservative predecessors. As the fourth-highest historic carbon emitter in the world, the UK has a moral and historic responsibility to address climate change, but its actions haven’t matched its words so far. 

During its election campaign, Labour failed to pledge new funds to address the huge gulf in climate financing for losses and damages, opting instead to simply deliver the previous government’s low-ball commitments to spend £11.6bn between 2021-2026. With nations set to meet at COP this year to define new annual climate finance commitments for Global South countries – known as the New Collective Quantified Goal (NCQG) – Labour needs to be much more ambitious in Azerbaijan. The future of communities on the frontlines of the climate crisis depends on it. 

Now, in the words of Grenada’s Prime Minister Dickson Mitchell, is not the time for countries like the UK to “sit idly by with platitudes and tokenism.” Now is the time for radical action and for the new UK government to stand up and deliver for the billions of people facing a runaway climate emergency. 

The post Hurricane Beryl shows why the new UK government must ramp up climate finance  appeared first on Climate Home News.

Hurricane Beryl shows why the new UK government must ramp up climate finance 

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Big fishing nations secure last-minute seat to write rules on deep sea conservation

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As a treaty to protect the High Seas entered into force this month with backing from more than 80 countries, major fishing nations China, Japan and Brazil secured a last-minute seat at the table to negotiate the procedural rules, funding and other key issues ahead of the treaty’s first COP.

The Biodiversity Beyond National Jurisdiction (BBNJ) pact – known as the High Seas Treaty – was agreed in 2023. It is seen as key to achieving a global goal to protect at least 30% of the planet’s ecosystems by 2030, as it lays the legal foundation for creating international marine protected areas (MPAs) in the deep ocean. The high seas encompass two-thirds of the world’s ocean.

Last September, the treaty reached the key threshold of 60 national ratifications needed for it to enter into force – a number that has kept growing and currently stands at 83. In total, 145 countries have signed the pact, which indicates their intention to ratify it. The treaty formally took effect on January 17.

    “In a world of accelerating crises – climate change, biodiversity loss and pollution – the agreement fills a critical governance gap to secure a resilient and productive ocean for all,” UN Secretary-General António Guterres said in a statement.

    Julio Cordano, Chile’s director of environment, climate change and oceans, said the treaty is “one of the most important victories of our time”. He added that the Nazca and Salas y Gómez ridge – off the coast of South America in the Pacific – could be one of the first intact biodiversity hotspots to gain protection.

    Scientists have warned the ocean is losing its capacity to act as a carbon sink, as emissions and global temperatures rise. Currently, the ocean traps around 90% of the excess planetary heat building up from global warming. Marine protected areas could become a tool to restore “blue carbon sinks”, by boosting carbon absorption in the seafloor and protecting carbon-trapping organisms such as microalgae.

    Last-minute ratifications

    Countries that have ratified the BBNJ will now be bound by some of its rules, including a key provision requiring countries to carry out environmental impact assessments (EIA) for activities that could have an impact on the deep ocean’s biodiversity, such as fisheries.

    Activities that affect the ocean floor, such as deep-sea mining, will still fall under the jurisdiction of the International Seabed Authority (ISA).

    Nations are still negotiating the rules of the BBNJ’s other provisions, including creating new MPAs and sharing genetic resources from biodiversity in the deep ocean. They will meet in one last negotiating session in late March, ahead of the treaty’s first COP (conference of the parties) set to take place in late 2026 or early 2027.

    China and Japan – which are major fishing nations that operate in deep waters – ratified the BBNJ in December 2025, just as the treaty was about to enter into force. Other top fishing nations on the high seas like South Korea and Spain had already ratified the BBNJ last year.

    Power play: Can a defensive Europe stick with decarbonisation in Davos?

    Tom Pickerell, ocean programme director at the World Resources Institute (WRI), said that while the last-minute ratifications from China, Japan and Brazil were not required for the treaty’s entry into force, they were about high-seas players ensuring they have a “seat at the table”.

    “As major fishing nations and geopolitical powers, these countries recognise that upcoming BBNJ COP negotiations will shape rules affecting critical commercial sectors – from shipping and fisheries to biotechnology – and influence how governments engage with the treaty going forward,” Pickerell told Climate Home News.

    Some major Western countries – including the US, Canada, Germany and the UK – have yet to ratify the treaty and unless they do, they will be left out of drafting its procedural rules. A group of 18 environmental groups urged the UK government to ratify it quickly, saying it would be a “failure of leadership” to miss the BBNJ’s first COP.

    Finalising the rules

    Countries will meet from March 23 to April 2 for the treaty’s last “preparatory commission” (PrepCom) session in New York, which is set to draft a proposal for the treaty’s procedural rules, among them on funding processes and where the secretariat will be hosted – with current offers coming from China in the city of Xiamen, Chile’s Valparaiso and Brussels in Belgium.

    Janine Felson, a diplomat from Belize and co-chair of the “PrepCom”, told journalists in an online briefing “we’re now at a critical stage” because, with the treaty having entered into force, the preparatory commission is “pretty much a definitive moment for the agreement”.

    Felson said countries will meet to “tidy up those rules that are necessary for the conference of the parties to convene” and for states to begin implementation. The first COP will adopt the rules of engagement.

    She noted there are “some contentious issues” on whether the BBNJ should follow the structure of other international treaties such as the Convention on Biological Diversity (CBD), as well as differing opinions on how prescriptive its procedures should be.

    “While there is this tension on how far can we be held to precedent, there is also recognition that this BBNJ agreement has quite a bit to contribute in enhancing global ocean governance,” she added.

    The post Big fishing nations secure last-minute seat to write rules on deep sea conservation appeared first on Climate Home News.

    Big fishing nations secure last-minute seat to write rules on deep sea conservation

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    Climate at Davos: Energy security in the geopolitical driving seat 

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    The annual World Economic Forum got underway on Tuesday in the Swiss ski resort of Davos, providing a snowy stage for government and business leaders to opine on international affairs. With attention focused on the latest crisis – a potential US-European trade war over Greenland – climate change has slid down the agenda.

    Despite this, a number of panels are addressing issues like electric vehicles, energy security and climate science. Keep up with top takeaways from those discussions and other climate news from Davos in our bulletin, which we’ll update throughout the day.

    From oil to electrons – energy security enters a new era

    Energy crises spurred by geopolitical tensions are nothing new – remember the 1970s oil shock spurred by the embargo Arab producers slapped on countries that had supported Israel during the Yom Kippur War, leading to rocketing inflation and huge economic pain.

    But, a Davos panel on energy security heard, the situation has since changed. Oil now accounts for less than 30% of the world’s energy supply, down from more than 50% in 1973. This shift, combined with a supply glut, means oil is taking more of a back seat, according to International Energy Agency boss Fatih Birol.

    Instead, in an “age of electricity” driven by transport and technology, energy diplomacy is more focused on key elements of that supply chain, in the form of critical minerals, natural gas and the security buffer renewables can provide. That requires new thinking, Birol added.

    “Energy and geopolitics were always interwoven but I have never ever seen that the energy security risks are so multiplied,” he said. “Energy security, in my view, should be elevated to the level of national security today.”

    In this context, he noted how many countries are now seeking to generate their own energy as far as possible, including from nuclear and renewables, and when doing energy deals, they are considering not only costs but also whether they can rely on partners in the long-term.

      In the case of Europe – which saw energy prices jump after sanctions on Russian gas imports in the wake of Moscow’s invasion of Ukraine – energy security rooted in homegrown supply is a top priority, European Commission President Ursula von der Leyen said in Davos on Tuesday.

      Outlining the bloc’s “affordable energy action plan” in a keynote speech at the World Economic Forum, she emphasised that Europe is “massively investing in our energy security and independence” with interconnectors and grids based on domestically produced sources of power.

      The EU, she said, is trying to promote nuclear and renewables as much as possible “to bring down prices and cut dependencies; to put an end to price volatility, manipulation and supply shocks,” calling for a faster transition to clean energy.

      “Because homegrown, reliable, resilient and cheaper energy will drive our economic growth and deliver for Europeans and secure our independence,” she added.

      Comment – Power play: Can a defensive Europe stick with decarbonisation in Davos?

      AES boss calls for “more technical talk” on supply chains

      Earlier, the energy security panel tackled the risks related to supply chains for clean energy and electrification, which are being partly fuelled by rising demand from data centres and electric vehicles.

      The minerals and metals that are required for batteries, cables and other components are largely under the control of China, which has invested massively in extracting and processing those materials both at home and overseas. Efforts to boost energy security by breaking dependence on China will continue shaping diplomacy now and in the future, the experts noted.

      Copper – a key raw material for the energy transition – is set for a 70% increase in demand over the next 25 years, said Mike Henry, CEO of mining giant BHP, with remaining deposits now harder to exploit. Prices are on an upward trend, and this offers opportunities for Latin America, a region rich in the metal, he added.

      At ‘Davos of mining’, Saudi Arabia shapes new narrative on minerals

      Andrés Gluski, CEO of AES – which describes itself as “the largest US-based global power company”, generating and selling all kinds of energy to companies – said there is a lack of discussion about supply chains compared with ideological positioning on energy sources.

      Instead he called for “more technical talk” about boosting battery storage to smooth out electricity supply and using existing infrastructure “smarter”. While new nuclear technologies such as small modular reactors are promising, it will be at least a decade before they can be deployed effectively, he noted.

      In the meantime, with electricity demand rising rapidly, the politicisation of the debate around renewables as an energy source “makes no sense whatsoever”, he added.

      The post Climate at Davos: Energy security in the geopolitical driving seat  appeared first on Climate Home News.

      Climate at Davos: Energy security in the geopolitical driving seat 

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      A Record Wildfire Season Inspires Wyoming to Prepare for an Increasingly Fiery Future

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      As the Cowboy State faces larger and costlier blazes, scientists warn that the flames could make many of its iconic landscapes unrecognizable within decades.

      In six generations, Jake Christian’s family had never seen a fire like the one that blazed toward his ranch near Buffalo, Wyoming, late in the summer of 2024. Its flames towered a dozen feet in the air, consuming grassland at a terrifying speed and jumping a four-lane highway on its race northward.

      A Record Wildfire Season Inspires Wyoming to Prepare for an Increasingly Fiery Future

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