US Promises Climate Aid for 20 Developing Cities

USAID chief Samantha Power. EPA
USAID chief Samantha Power. EPA
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US Promises Climate Aid for 20 Developing Cities

USAID chief Samantha Power. EPA
USAID chief Samantha Power. EPA

The USAID chief on Wednesday promised support for two dozen developing cities to cope with climate change and announced more than $2 billion in new adaptation finance from the private sector, Agence France Press (AFP) reported.

Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 climate summit in Dubai. USAID promised $53 million to help 23 cities in the developing world switch to low-carbon and climate-resilient activities, including electric vehicles.

Cities targeted include Kyrgyzstan's capital Bishkek, the western Indian city of Rajkot, the northeastern South African city of Mbombela, and Hermosillo and Merida in Mexico.

Urban areas are responsible for three-quarters of global carbon emissions. USAID also announced the mobilization of another $2.3 billion in private-sector investment as part of an initiative by President Joe Biden to initiatives such as early-warning systems, climate-resilient food infrastructure and new financial products.

Twenty-one companies have newly committed funding through the initiative, dubbed the President's Emergency Plan for Adaptation and Resilience, including IBM and Visa, USAID said, after 10 founding members joined last year at COP27 in Egypt.

Power, the latest senior US official to join lead negotiator John Kerry during the marathon talks, is focusing efforts on helping developing countries adapt to the changing climate.

"COP28 comes at the end of yet another year where people around the world saw their lives turned upside down by record-high temperatures and extreme weather -- from the catastrophic drought and now devastating flooding in the Horn of Africa to the hottest summer in Earth's recorded history," Power said.

"We must do more to address the climate crisis -- and we are," she said in a statement to AFP ahead of her arrival.



Fourth Future Minerals Forum Starts in Riyadh

The fourth edition of the forum, held between January 14 and 16 - SPA
The fourth edition of the forum, held between January 14 and 16 - SPA
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Fourth Future Minerals Forum Starts in Riyadh

The fourth edition of the forum, held between January 14 and 16 - SPA
The fourth edition of the forum, held between January 14 and 16 - SPA

Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the fourth edition of the Future Minerals Forum kicked off in Riyadh. The event features representatives from over 90 countries, including 16 G20 nations, 50 international governmental and non-governmental organizations, commodity trade associations, and leading figures in the global mining industry.
The forum began with the Fourth Ministerial Roundtable meeting, which aims to bolster international collaboration in producing the critical minerals essential for the global energy transition. It provides a platform for ministers and senior officials to discuss sustainable development strategies for the mining sector, focusing on positioning mining as a catalyst for economic growth and social progress, SPA reported.
The government officials met to lead global action on minerals around three key initiatives: Strategic Framework for Critical Minerals, which aims to develop a collaborative framework in the Super Region of Africa, West, and Central Asia to harness the region's mineral potential fully; Sustainability, aimed at the development of responsible supply priorities that reflect local realities in supplier countries and enhance transparency through supply chain certification; and Centers of Excellence, establishing a network to drive investments, develop human capital, and accelerate technological innovation within the Super Region and supplier countries.
The fourth edition of the forum, held between January 14 and 16, features 250 speakers, including CEOs of leading mining and mineral-related companies and financial institutions. Around 15,000 participants are expected to attend its sessions.