40% of critical Amazon rainforest unprotected, and other nature and climate stories you need to read this week

New research suggests nearly 40% of the Amazon that's most critical to curbing climate change is not protected.

Data from the non-profit Amazon Conservation reveals that crucial regions in the far southwest of the Amazon in Peru and the northeast across Brazil, French Guiana and Suriname lack special government protection as nature or indigenous reserves.

These parts of the Amazon have the biggest, densest trees and the most continuous canopy cover.

Matt Finer, who leads Amazon Conservation's Monitoring of the Andean Amazon Project, explained to Reuters: "It really just gives this overall roadmap in terms of some of the highest carbon areas that are important to protect."

He added, "They really indicate the most pristine parts of the Amazon that still remain."

The research used laser imaging and machine learning to build a three-dimensional picture of the forest. It found that around 61% of the peak carbon areas in the Amazon are protected.

The European Court of Auditors has warned of spending overestimation and miscount of actual sums spent on climate projects in the European Union (EU).

The bloc's auditors have flagged billions of euros of potential overspend, with countries claiming spending on IT systems and salaries as "green", Reuters reports.

The EU has pledged to spend just over a third (37%) of its 700 billion euro ($774 billion) COVID-19 recovery fund on measures to address climate change. It estimates that 42.5% of the funds (275 billion euros) allocated so far have been invested to help meet green goals.

However, the auditors warned that this figure could be overstated by as much as 34.5 billion euros.

The EU assesses projects' climate contribution by giving them either a 0% (neutral or insignificant), 40% (non-marginal, positive), or 100% (substantial) rating. The report's lead auditor said this methodology "ultimately provides little indication of how much money goes directly to the green transition".

Developing countries need around $500 billion of climate finance each year, a new United Nations report finds. It also estimates that enacting climate plans across 98 countries could require up to $6.9 trillion from 2015 to 2030, according to Bloomberg.

There's a 71% chance of La Niña weather conditions developing during September-November, according to the US government's Climate Prediction Center. The climate pattern is linked to floods, droughts and an increased chance of Caribbean hurricanes.

Flooding in central Europe has claimed at least 19 lives and seen thousands of people evacuated after heavy rain caused rivers to burst their banks.

A $756 million Belgian state aid scheme to support renewable offshore wind energy has been approved by the European Commission.

Indonesia has announced plans to upgrade the quality of subsidized and polluting fuels – and sell them to fewer vehicles – to improve the air quality of its big cities.

Banks and financial institutions have committed $386 billion to expand India's renewable capacity by 2030.

The EU is exploring new financial tools to incentivize farmers who help reverse biodiversity loss and climate change, Euronews reports. Options include a market-based system involving 'nature credits' that could be applied beyond the agricultural sector, Commission president Ursula von der Leyen said last week.

Less than half of Nigeria's population has access to a reliable electricity supply. However, start-up ICE Commercial Power is using solar power grids to connect the country's SMEs to clean power.

How can the cement and concrete industry accelerate emissions reductions? A World Economic Forum report explores four decarbonization pathways for the sector.