Stabilizing the global climate is one of the most urgent challenges in coming decades. Our warming world affects all people and ecosystems, particularly the poor who already suffer disproportionately from climate-change impacts.
A new initiative launched in Paris this week demonstrates the growing recognition that action by financial institutions – both public and private – is necessary to begin shifting trillions of dollars toward low-carbon development.
Climate finance is essential for enabling developing countries to both reduce their greenhouse gas emissions and build resilience to the impacts of a warming world. Watch for six signs over the next two weeks to see how COP 21 makes progress in this area.
As of this Monday, 174 countries had submitted their national climate plans to the UN, in preparation for the Paris climate summit that begins next week. These “Intended Nationally Determined Contributions” (INDCs) show countries are stepping up to take collective action to address climate change. Governments have set out a variety of different approaches, including specifying absolute emissions-reduction targets, setting economy-wide emissions intensity goals, outlining efforts to adapt to the impacts of climate change, and detailing specific actions they plan to take in a range of...
Last week, the Green Climate Fund (GCF) Board met for its last meeting before the upcoming climate talks in Paris. Countries created the GCF to be the main global fund for climate finance, and as such, it could play a vital role in delivering the goals of an agreement in Paris. If the GCF is to be a key player in the future climate regime, it needs to show that it can effectively spend money. Is it up to the task?
This is the first time the Board is faced with approving proposals for specific activities. Are these proposals ambitious enough? Do they contribute to a paradigm shift in developing countries? Or do they fall short?
We’re now halfway towards the 2020 deadline – set in 2009 – for developed countries to mobilize $100 billion a year in climate finance. It’s essential to show that developed countries are keeping their commitments so developing countries know they have support for ambitious action when countries meet to forge a new global climate agreement in Paris this December.
So with five years to go, how close are we to $100 billion a year? And how could we get there?
The finance stream of the UN climate negotiations in Bonn, Germany, last week showed a clearer narrative emerge about the key elements that should be included in the outcomes of the December climate summit in Paris.