Europe News
EIB to invest €95bn in 2025, but only €2bn for defence
The EIB, the largest multilateral lender, will double its funding for defence and security from €1 billion to €2 billion by 2025. Its group president defends a proactive approach to both sectors within the bank's remit. "We are not a defence ministry," she said on Thursday.
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USA
US pledges 61% emissions cut by 2035 as Biden bows out
The US has become only the fourth country to put a new emissions reduction pledge on the table ahead of a February 2025 deadline under the Paris Agreement to halt global temperature rise – but with president-elect Trump due to take office next month, its impact is questionable.
Europe News
Done deal: What to expect from the funding deal agreed at COP29
After a turbulent week in Baku, a deal was reached in the early hours of Sunday, 24 November. The big number to focus on is the $300bn a year that developing nations will receive from rich countries in climate funding by 2035, a far lower sum than the $1.3trn goal many had hoped for.
