The flood of green finance must be diverted from the west

When the COP27 climate talks begin next month in Egypt, there will be dozens of depressing data points for delegates to consider. Here is one that has largely gone unnoticed: between 2019 and 2021, there were only $14bn of so-called climate “blended finance” deals — structures that use public money to de-risk green investments — for poor countries.

This was less than half the volume seen in the previous three years. Yes, you read that right: even amid renewed calls to fight climate change around the world, blended finance has shrivelled in a most “disappointing and unexpected” way, says Joan

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