Climate crisis talks between UK energy secretary Grant Shapps and US special presidential envoy for climate change John Kerry have revealed $1bn investment plans, following yesterday’s Windsor Castle meeting.
The gathering, which was attended by Joe Biden and King Charles, took place shortly after the Climate Mobilisation Forum, where philanthropists and financiers were helping to catalyse support for emerging markets to tackle climate change.
Pre-Cop28 discussions took place around non-C02 emissions, deforestation and restoring forests.
Key announcements from the talks included $1 billion of nature-based solutions being plunged into a new venture between Builders Vision, Mitsui and Co and Renewable Resources, addressing climate change solutions in central and South America, the Middle East and East Asia.
The funds will be used to improve supply chains in agriculture, natural resources development and energy.
Investment firm Leapfrog has committed a further $500 million to companies that are addressing climate change in Africa and Asia, with the focus on supporting companies in the built environment.
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At the same time, the Tony Emelu foundation is launching a $500 million coalition for African developers to catalyse a further 100,000 young African entrepreneurs and small businesses.
The Sustainable Market Initiative also announced its Terra Carta Accelerator Fund, which aims to focus on natural projects in emerging markets and to pilot nature and climate-aligned supply transitions across industries globally.
In addition, Forrest Group is pursuing a portfolio of philanthropic, private and public finance, with seven priority actions which focus on scaling up green metals and green businesses.
King Charles and president Biden have worked together on environmental campaigns before. At the UN Cop26 summit TV cameras caught the president telling the then Prince of Wales that, “we need you badly” as part of the global drive to lower emissions.
