Statement from Dr. Andrew Steer, President and CEO of the World Resources Institute, on the findings of a new report from the Organisation for Economic Co-operation and Development (OECD). The report finds that $62 billion in climate finance was committed in 2014 by developed countries and multilateral banks towards the goal of $100 billion per year by 2020. This amount reflects a significant jump over the $52 billion committed the previous year, 'represents a significant upward trend in climate finance which, if it continues, shows that the goal of $100 billion by 2020 is within reach.'
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The WRI analysis shows that if Virginia achieves its current goals to improve efficiency and increase use of renewable energy while also making more efficient use of existing natural gas plants, the state can decrease carbon emissions from Virginia’s power sector by 43 percent below 2012 levels by 2030 – well beyond the state’s mass-based target of 23 percent reductions required under the Clean Power Plan.
Today India formally submitted its national climate plan (INDC) to the UNFCCC. The plan includes a commitment to reduce emissions intensity of its GDP by 33 to 35 percent by 2030 from 2005 levels, achieve about 40 percent cumulative electric power from non-fossil fuel based energy resources by 2030, and create an additional carbon sink of 2.5 to 3 million tonnes of carbon dioxide through additional forest and tree cover by 2030.