Developed nations have long pledged to help pay for developing nations to respond to climate change. That promise was crucial to sealing the Paris accord in 2015, when the U.S., Europe and other wealthy countries agreed to provide $100 billion a year from 2020 through 2025.
Why Financing the Multi-Trillion-Dollar Transition to Net Zero Isn't That Hard
The world needs $4 trillion a year to transition to a carbon-free economy.
Sound like a lot? It's not.
Every year, the global financial system channels trillions of dollars from people who have capital to people who need it without breaking a sweat. Doing the same to achieve net zero carbon emissions by 2050 is well within its means. It just needs something to invest in.
Nuclear Advocates Say More Reactors Will Aid Renewables
The head of the United Nations' atomic energy watchdog touted nuclear power's virtues as a complement to wind and solar-energy sources that are getting more airtime at the U.N. climate summit in Glasgow.
Rafael Mariano Grossi, director general of the International Atomic Energy Agency, said the recent energy price spike in Europe, the result of short gas supplies and low wind energy output, bolsters the case for nuclear.
"The volatility of prices is quite a recurring phenomenon when it comes to fossil fuels, which is not the case for nuclear," he said at a COP26 event on Thursday.
Expected Major Events for Friday
00:01/UK: Oct BRC-Sensormatic IQ Footfall Monitor
01:01/UK: Oct KPMG and REC UK Report on Jobs
07:00/ROM: Sep Retail trade
07:00/GER: Sep Industrial Production Index
07:00/DEN: Sep Industrial production & new orders
07:00/UK: Oct Halifax House Price Index
07:45/FRA: 3Q Flash estimate of job creation
07:45/FRA: Sep Industrial production index
08:00/HUN: Sep Retail Sales
08:00/SVK: Sep Internal trade, incl Wholesale & Retail
08:00/CZE: Sep Retail trade
08:00/AUT: Oct Wholesale Price Index
08:00/SPN: Sep Industrial Production
08:00/SWI: Oct SNB foreign currency reserves
08:00/HUN: Sep Preliminary Industrial Production
09:00/ITA: Sep Retail Sales
10:00/EU: Sep Retail trade
10:00/GRE: Sep External Trade (provisional data)
11:00/IRL: Oct Irish Live Register latest monthly figures
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-05-21 0154ET
