Difference between revisions of "Climate Finance"
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== Definition == | == Definition == | ||
| − | '''Climate Finance''' refers to financial resources and instruments that are used to support action on | + | '''Climate Finance''' refers to financial resources and instruments that are used to support action on [[Climate Change]]. |
<ref>[https://www.undp.org/publications/climate-dictionary The Climate Dictionary, UNDP, 2023]</ref> | <ref>[https://www.undp.org/publications/climate-dictionary The Climate Dictionary, UNDP, 2023]</ref> | ||
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Climate finance can come from different sources, public or private, national or international, bilateral or multilateral. It can employ different instruments such as grants and donations, green bonds, debt swaps, guarantees, and concessional loans. And it can be used for different activities, including mitigation, adaptation, and resilience-building. | Climate finance can come from different sources, public or private, national or international, bilateral or multilateral. It can employ different instruments such as grants and donations, green bonds, debt swaps, guarantees, and concessional loans. And it can be used for different activities, including mitigation, adaptation, and resilience-building. | ||
| − | Some multilateral funds that countries can access include the Green Climate Fund (GCF), the Global Environment Facility (GEF), and the Adaptation Fund (AF). High-income countries with a significant historical contribution to climate change have committed to raising US$100 billion every year to fund climate action in low-income countries. However, this target has not yet been reached and more funding is required for both mitigation and adaptation interventions. | + | Some multilateral funds that countries can access include the Green Climate Fund (GCF), the Global Environment Facility (GEF), and the Adaptation Fund (AF). |
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| + | High-income countries with a significant historical contribution to climate change have committed to raising US$100 billion every year to fund climate action in low-income countries. However, this target has not yet been reached and more funding is required for both mitigation and adaptation interventions. | ||
== See Also == | == See Also == | ||
* [[Green Finance]] | * [[Green Finance]] | ||
* [[Sustainable Finance]] | * [[Sustainable Finance]] | ||
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| + | == Futher Resources == | ||
| + | * [https://www.openriskacademy.com/mod/quiz/view.php?id=799 The Climate Dictionary Quiz] | ||
== References == | == References == | ||
Latest revision as of 14:10, 11 September 2023
Definition
Climate Finance refers to financial resources and instruments that are used to support action on Climate Change. [1]
Climate finance is critical to addressing climate change because of the large-scale investments that are needed to transition to a low-carbon global economy and to help societies build resilience and adapt to the impacts of climate change.
Climate finance can come from different sources, public or private, national or international, bilateral or multilateral. It can employ different instruments such as grants and donations, green bonds, debt swaps, guarantees, and concessional loans. And it can be used for different activities, including mitigation, adaptation, and resilience-building.
Some multilateral funds that countries can access include the Green Climate Fund (GCF), the Global Environment Facility (GEF), and the Adaptation Fund (AF).
High-income countries with a significant historical contribution to climate change have committed to raising US$100 billion every year to fund climate action in low-income countries. However, this target has not yet been reached and more funding is required for both mitigation and adaptation interventions.
