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This week we reflect on the United Nations COP29 climate conference in Baku, Azerbaijan, which wrapped up over the weekend. We take a closer look at the outcomes, analyzing nationsâ commitment to a new $300 billion annual global climate finance target and exploring whether itâs sufficient to support the needs of the lower-income countries most impacted by climate change.
While some steps have been taken to assist these states, significant doubts remain about the sufficiency of what nations agreed at COP29.
Is the global community truly committed to addressing the climate crisis? Did COP29 deliver? What will be the next step in the climate negotiations?
For the latest episode of our weekly podcast series, Business Editor David Ainsworth sits down with Clare Shakya, global managing director of climate at The Nature Conservancy, and Climate Reporter Jesse Chase-Lubitz, to look back at COP 29.
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As COP29 comes to a close, we take a look at what negotiators are still racing to resolve in the final hours of the ambitious two-week conference. From building carbon markets to establishing private sector partnerships to meet the funding gap, we also contemplate whether the discussions will lead to meaningful action and address the issues posed by climate change.
This week, we were also on the ground in Brazil, closely following the conversations taking place at the G20 summit in Rio de Janeiro. We dive into some of the global development issues on the agenda during the discussions, including slashing world hunger, reforming multilateral development banks, and taxing the superrich.
To look back at these two crucial events on the global development calendar, Devex President and Editor-in-Chief Raj Kumar sits down with James Mwangi, founder and CEO of Africa Climate Ventures, as well as Global Development Reporter Elissa Miolene for the latest episode of our weekly podcast series.
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For this special episode of our weekly podcast series, Devex EVP and Executive Editor Kate Warren sits down with leaders from Bayer and Mars who discuss the challenges and opportunities for the private sector in addressing climate change.
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For this special episode of our weekly podcast series recorded at COP29, Devex climate reporter Jesse Chase-Lubitz sits down with Kulthoum Omari-Motsumi from the Africa Adaptation Initiative, Patrick Verkooijen of the Global Center on Adaptation, and Tagaloa Cooper from the South Pacific Regional Environment Program.
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Agriculture is both a driver of climate change, with around 11% of global greenhouse gas emissions coming from direct on farm emissions, and a potential game changer in mitigating it, if carried out sustainably. Yet currently agriculture receives only 4.3% of total mitigation and adaptation finance, making it an underutilized part of the solution to climate change.
âMaybe an important conversation to have in Baku is to say, of the finances that we have available, are we all focussing on the sectors where we can see true, tangible, and implementable solutions,â said CropLife Internationalâs Vice President for public affairs and communications Laurie Goodwin, the global association that advocates on behalf of plant science innovation.
In a conversation with Devex Executive Vice President and Executive Editor Kate Warren, Goodwin and CropLife Internationalâs President and CEO Emily Rees discussed advancements in plant science and the role of innovation, such as the use of digital tools â otherwise known as precision agriculture â in building resilience in global food systems. âItâs a real digital revolution, a farming revolution, that weâre seeing,â said Rees. âI think itâs really important to keep in mind what the benefits are of this from a biodiversity perspective, from a conservation perspective, from a land degradation perspective.â
Listen to their conversation to hear how innovative technologies are helping improve crop resilience and yields, and what more is needed to ensure these solutions reach smallholder farmers. -
While the African continent has seen significant economic growth in recent years, it continues to grapple with critical infrastructure challenges that hamper business expansion, service delivery, trade, investment, as well as sustainable development.
In the latest episode of This Week in Global Development, Devex Executive Vice President Kate Warren speaks with Alain Ebobissé, CEO of Africa50, during the 2024 Annual Meetings of the International Monetary Fund and the World Bank Group in Washington, D.C. Since its launch seven years ago, Africa50 has emerged as a key player in bridging the infrastructure gap across the continent, focusing on project development to create a pipeline of bankable projects.
Listen to the podcast episode for the full interview, where Warren and Ebobissé discuss the future of infrastructure in Africa, the importance of climate being built into infrastructure projects, and innovative strategies being employed to create lasting impact across the continent. -
As the COP 29 U.N. climate conference kicks off in Baku, Azerbaijan, we look ahead to the potential implications of the discussions on the global development sector.
Labeled as the âfinance COP,â one of the expected outcomes of the summit is a new financial goal for high-income countries to deliver to lower-income countries to address the challenges induced by climate change.
With Trumpâs recent reelection and implications for development, as well as Europeâs ongoing cuts to development funding, serious questions remain over whether ambitious financial and political commitments will be made, and if the discussions will translate into meaningful action.
What are we expecting from COP29? Which are the conversations that we will be following?Devex President and Editor-in-Chief Raj Kumar sits down with Devex reporters Jesse Chase-Lubitz and Ayenat Mersie for this special episode of our weekly podcast series ahead of COP 29.
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This week, former President Donald Trump was elected for a second term at the White House. His reelection marks a radical shift in U.S. foreign policy priorities for a sweeping range of issues, not least abortion, climate, global health, and LGBTQI rights.
The global development community is closely watching how things are unfolding in Washington, D.C. Major reforms to the international financial system are expected, as well as cuts in funding to the U.S. Agency for International Development and the United Nations.
How will Trump approach foreign policy? Will China capitalize on the U.S.âs withdrawal from the international scene? What does the result mean for international climate finance?
To dig into these questions and discuss what the outcome of the U.S. elections means for global development, Devex President and Editor-in-Chief Raj Kumar sits down with reporters Colum Lynch and Adva Saldinger for the latest episode of our weekly podcast series.
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This week we discuss the key takeaways from Devex World 2024, our flagship event that took place in Washington, D.C., alongside the World Bank-International Monetary Fund annual meetings. From discussions with philanthropist Howard Buffett, who called for increased aid to Ukraine, to a conversation with former executive director of the World Food Programme David Beasley, who believes the U.S. can once again lead on foreign aid, the event brought together key figures in global development.
We also sat down with Republicans and Democrats to dig into what the U.S. election means for global development and discuss the direction that a Kamala Harris presidency or a Donald Trump presidency would take U.S. foreign policy.
For the latest edition of our weekly podcast series, Devex Managing Editor Anna Gawel sits down with Business Editor David Ainsworth and Global Development Reporter Elissa Miolene to look back at the highlights from Devex World 2024.
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With the World Bank-International Monetary Fund annual meetings wrapped up, all eyes are now turning to the upcoming United Nations Climate Change Conference, COP29, to be held next month in Baku, Azerbaijan.
So how do multilateral development banks stack up? Are their policies and programs enough to address climate shocks? Can and should they take on more risk? And is the money that MDBs have promised actually getting to where it needs to go?
To explore these questions and more, Devex Senior Reporter Adva Saldinger speaks to Pepukaye Bardouille, director of the Bridgetown Initiative and special adviser on climate change to Barbados Prime Minister Mia Mottley; and Warren Evans, who has a long history of working on climate issues at multilateral development banks. -
On Thursday, Devex hosted its biannual Devex World summit in Washington, D.C. Devex President and Editor-in-Chief Raj Kumar was on hand to interview global development heavy hitters on stage â and also sat down with Climate Investment Funds CEO Tariye Gbadegesin. CIF, founded in 2008, is a $12 billion multilateral climate finance fund.
While all brains were focused on the World Bank annual meetings, they looked ahead to the 29th United Nations Climate Change Conference, or COP29, in Baku, Azerbaijan. âOne of the key objectives of the Baku COP is to deliver a [new collective quantified goal, or NCQG], which are basically national quantified goals for how we're going to deliver on climate finance,â Gbadegesin said. âThe reality is that there are going to be challenges with raising these large sums of money because budgets are stretched for multiple reasons. Some of it is political, some of it is economic, some of it is security challenges.â The implications for climate funding, she said, are that every dollar has to go further â which is already the mission of CIFâs concessional finance model.
Another key factor, she said, will be bringing in the private sector.
âWhat we need to do is figure out how to create that capital stack of funding where we are able to get 10-15% from the private sector to come alongside [multilateral development bank] funding, underpinned by concessional finance,â she said. âIt's not hard to do on paper or in a financial model, but it's really hard.â Still, itâs possible, she explained â in past years, CIF was brought in to help finance solar and wind projects, she said, but now thatâs no longer necessary for those technologies, and she believes that can happen for other new technologies.
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The World Bank Group released its new Gender Strategy earlier this year with three key aims: ending gender-based violence, expanding economic opportunities, and engaging more women as leaders.
But how will the bank achieve these lofty aims? Devex Senior Reporter Adva Saldinger sits down with the bankâs Global Director for Gender Hana Brixi for our latest podcast to learn about how this new plan will be implemented and what exactly is changing. And Mary Borrowman, a policy fellow in the Gender Equality and Inclusion program at the Center for Global Development, shares her concerns about data, accountability, funding and a lack of country-level targets. -
This is the first of a series of three special episodes of This Week in Global Development tied to the World Bank-International Monetary Fund annual meetings in Washington, D.C.
Devex senior reporter Adva Saldinger speaks to Lord Mark Malloch Brown, who's co-leading an initiative aimed at assessing and providing recommendations for these Bretton Woods institutions, and Gates Foundation's president of global advocacy, Gargee Ghosh, about the challenges facing the IDA replenishment in December. -
As we look ahead to the World Bank and the International Monetary Fund annual meetings, we discuss what to expect from the summit, including whether the decisions made will have a meaningful impact and help overcome some of the biggest challenges in global development.
With the looming U.S. elections just around the corner, we consider the potential implications for the World Bank's strategy and the influence the vote may exert on this yearâs annual meetings. While the rhetoric around this summit is based on the idea of âgetting things done,â we contemplate how the global political landscape will influence outcomes.
What next for the International Development Association replenishment? What will be the big announcements?
To discuss these questions and look ahead to the event, Devex President and Editor-in-Chief Raj Kumar sits down with Senior Reporters Adva Saldinger and Michael Igoe for the latest episode of our weekly podcast series.
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This week we published an exclusive interview with Nicholas Kristof, an award-winning New York Times columnist. He spoke about what he saw in Sudan and the global communityâs failure to respond to one of the worldâs largest humanitarian crises â as the conflict in Gaza overshadows other crises around the world. As public attention wanes in the face of new crises, we question whether crisis fatigue is hindering humanitarian aid from reaching those in dire need.
We also discussed a study that revealed European companies â including Siemens, BioNTech SE, Möller Group, and SUEZ â are benefiting from investments in over 60% of the EU Global Gateway projects examined. We dig into the studyâs details and whether Europe is doing enough to channel funds to the Global South and meet the needs of local communities.
Meanwhile, in the United Kingdom, it appears as though the Department for International Development â which was merged with the Foreign and Commonwealth Office in 2020 â will not be restored anytime soon. We learned that British Prime Minister Keir Starmer rejected top-level advice that he could restore a separate U.K. aid department with ânegligibleâ cost and disruption, according to a new book by former senior development officials.
For the latest edition of our podcast series, Devex Managing Editor Anna Gawel sits down with reporters Elissa Miolene and Rob Merrick to discuss our top stories from the past week.
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Last week, we published an exclusive article on the European Unionâs plan to cut its development spending by âŹ2 billion (around $2.2 billion) over the next three years. This will account for a 35% reduction in the amount of money it gives to the worldâs lowest-income countries as the bloc aims to focus on other priorities, including supporting Ukraine and stopping migration to Europe.
The European Union is not the only entity in Europe reducing its aid budget. The French government also announced a âŹ1 billion reduction in foreign aid â the third cut in the last two years â while the new U.K. development minister Anneliese Dodds suggested that the government will continue to direct the countryâs aid spending on hosting refugees.
Why are European countries slashing their aid budgets? What are the implications of these cuts?
To answer these questions and dig into the issue, Devex Business Editor David Ainsworth sits down with Deputy Managing Editor Fiona Zublin and Senior Reporter Vince Chadwick for the latest episode of our podcast series.
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In April, a group of multilateral development banks signed an agreement to work more closely together, known as a viewpoint note, which set a series of goals, including scaling up their financing capacity, and delivering more on climate.
Earlier this week, at the U.N. General Assembly, the heads of MDBs sat down with U.N. leaders to identify how they could make more progress to deliver those goals. Devex heard from Ilan Goldfajn, president of the Inter-American Development Bank, about the steps taken so far.
Goldfajn said there had been considerable progress in unifying the goals of the MDBs with the Group of 20 major economies and with U.N. agencies.
MDBs have increased lending capacity by $400 billion over the next 10 years, mostly through reforms but partly due to closer working, Goldfajn explained. He added that last year, the banks had lent a quarter more on climate and doubled the amount of finance mobilized, compared to 2022.
He also highlighted several projects where IDB had worked together with the World Bank and the EIB.
Devex Senior Reporter Adva Saldinger sat down with Goldfajn for a special episode of our This Week in Global Development podcast series.
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In a special edition of the This Week in Global Development podcast recorded on the sidelines of the 79th United Nations General Assembly, chef and entrepreneur JosĂ© AndrĂ©s spoke with Devexâs Kate Warren to discuss his humanitarian work with World Central Kitchen and the challenges of addressing global hunger.
For AndrĂ©s, having a set system for food aid doesnât work. This explains WCK's unique approach. Rather than shipping in prepackaged food aid to various humanitarian situations, WCK partners with local communities and restaurants to provide culturally relevant, cost-effective meals.
This model, while seemingly obvious, is not the norm in the humanitarian sector. AndrĂ©s believes that the tendency to overcomplicate solutions often prevents effective action. "Sometimes big problems, they have very simple solutions, but [it] seems humans, weâre very good at overcomplicating the problems," he said.
"We don't respond [in] every place in the same way," he explained, citing examples of serving fresh fish in Gaza to avoid it going to waste, and bringing in food from European countries to support Ukraine's collapsed distribution systems despite the quantity of grain available.
AndrĂ©s emphasized the importance of adapting to local conditions and empowering communities to be part of the solution. âThe most important, is having boots on the ground,â he said. For AndrĂ©s, there is ânobody better than the local community to help you respond.â
The risks faced by humanitarian workers are a sobering reality for AndrĂ©s, who has lost employees in Gaza and Ukraine. He expressed a deep sense of responsibility, noting that âif we were not there, this wouldn't be happening.â However, he believes that the potential to save lives outweighs the dangers, stating, âIf not, those people on their own will be alone, forgotten and anyway, dying.â
Andrés sees both the promise and peril of emerging technologies like artificial intelligence. While AI has the potential to revolutionize food production, distribution, and waste reduction, he also cautions against its misuse, calling for robust regulations and safeguards to prevent AI from being weaponized against civilians or humanitarian workers.
Looking ahead, Andrés shares his skepticism about the world's ability to achieve the U.N. Sustainable Development Goals within the limited time frame to 2030, citing a lack of accountability and the disillusionment of young people with leadership. He emphasized the need for more support for youth to become agents of change and for real, tangible progress to be made, not just empty promises.
âDoing good and promising good is not good enough. We must do a smart good,â he said. -
This week Devex is in New York covering the 79th United Nations General Assembly as well as the Summit of the Future. In addition to hosting our very own summit on the sidelines of these events, we are also closely following the conversations happening at the U.N. and around the rest of Manhattan that are most important to the global development community.
From reforming the international financial architecture to addressing geopolitical issues â we explore whether the discussions taking place will lead to meaningful change and help achieve the U.N. Sustainable Development Goals by 2030.
What does the Pact for the Future mean for the world? And is the legitimacy of the U.N. on the line?
For the latest episode of our weekly podcast series, Devex President and Editor-in-Chief Raj Kumar discusses with Senior Global Reporter Colum Lynch the most important updates from the 79th United Nations General Assembly.
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Itâs no secret that promises to deliver more humanitarian and development funding to local and national organizations have not been fulfilled.
During the high-level week of the 79th U.N. General Assembly, Devex caught up with Degan Ali, who heads the Kenya-based NGO Adeso. Ali is a leading voice in the aid decolonization movement, which seeks to decenter the voices of Western decision-makers and shift more power to local leaders in the global south.
Ali discussed the lack of trust and credibility given to local NGOs compared to international organizations, challenges in meeting the 2016 âGrand Bargainâ target of 25% funding to local organizations, and how bureaucracy and risk aversion in organizations like the U.S. Agency for International Development is hindering localization efforts.
And while she gave USAID Administrator Samantha Power credit for elevating the localization agenda, Ali called the effort to get bilateral organizations to shift to locally led development an âimpossible, impossible uphill battle.â
âBut where I do feel like there's hope and there's opportunity, is for the [international] NGOs to change and philanthropy to change, and those are the spaces where we need to put a lot of pressure,â she said. âAnd that's what we're trying to do at Adeso with the Pledge for Change with the INGOs, and the decolonizing philanthropy work that we're doing.â
Devex Global Development Reporter Elissa Miolene sat down with Ali for a special episode of our This Week in Global Development podcast series. - Se mer
