05 Dec, 23

COP28: Arab Coordination Group Promises $10B To Assist Developing Nations

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The Arab Coordination Group will allocate $10 billion through 2030 to facilitate the energy transition, the group said on Tuesday during the COP28 meeting. The $10 billion in funds is designed to drive “a comprehensive and affordable transition to renewable energy in developing countries,” the ACG said on Tuesday. The funds are part of the group’s previous pledge of $24 billion. The ACG will raise funds through the use of green bonds, blended finance, and risk mitigation tools. The group will also support universal access to clean…

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