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From rhetoric to reality: Why COP30 must become a bank of actions

With climate impacts mounting, the summit's final days must deliver a credible finance plan, realistic transition pathways and stronger action-focused alliances

COP30
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Structurally, we must utilise public capital to attract private investment on a large scale. This means tackling the root causes of high capital costs in developing countries, including reforming the role of credit-rating agencies, whose outdated risk assessments stifle investment. (ILLUSTRATION: binay sinha )

Arunabha Ghosh

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After nearly 10 days of intense negotiations, the message rings clear from the rooms in Belém: We are in the hard part of this Conference of Parties (COP). The opening rhetoric has faded, and the task now is to structure a response commensurate with the climate crisis unfolding outside these halls. The grim drumbeat of climate impacts provides the only true scorecard: Landslides from relentless rain have killed dozens in Indonesia and Vietnam; a powerful tornado has struck Portugal; and a new study in Nature reveals that in Mumbai, rain causes over 8 per cent of the deaths
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