, to be held in Baku, Azerbaijan, in November. And in the run-up to the meeting, there are currently few signs of major progress.to help developing nations move away from fossil fuels and adapt to climate impacts. So far, few countries have committed significant additional funds.set out at the Copenhagen climate summit in 2009. That was before the expanded scope of present-day climate damages became clear.
Little movement was made on how to help poorer nations dealing with the one-two punch of mounting sovereign debt and damages from climate change-related extreme weather events like droughts and heat waves."We are not seeing the real, fundamental change that we need in these institutions," UAE diplomat Majid al-Suwaidi, a longtime climate negotiator who served as the director general of COP28 in Dubai, tells Axios in an interview.
"There was discernible movement — a system slowly but surely fixing things that get in the way of speed and scale," said Rachel Kyte, a former top World Bank climate official and current professor at Oxford University, in a statement about the spring meetings. These included top leaders from the World Bank, IMF, the White House, private financial institutions such as Bank of America CEO Brian Moynihan, and more.