Climate change fund
Encyclopedia
The impacts of climate change
have started and the world’s poorest people are likely to be hit first and hardest. Recent researches have estimated the costs of climate change mitigation and adaptation to global warming
at around US$ 200 to US$ 210 billion and US$ 28 to US$ 67 billion, respectively, by 2030.
It is widely recognized that there is a huge funding gap between what is needed and what is available to climate change. This requires a diverse array of funding schemes, ranging from public and private sources, as well as new and innovative mechanisms. In addition, for a successful agreement to be reached at the December 2009 United Nations Climate Change Conference
in Copenhagen, sufficient financial resources must be provided to enable its implementation.
(ODA), as well as adequate and predictable.
Recently, there has been a proliferation of new funds to support climate change programmes in developing countries, created by bilateral
and multilateral initiatives.
Climate change
Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions or the distribution of events around that average...
have started and the world’s poorest people are likely to be hit first and hardest. Recent researches have estimated the costs of climate change mitigation and adaptation to global warming
Adaptation to global warming
Adaptation to global warming and climate change is a response to climate change that seeks to reduce the vulnerability of natural and human systems to climate change effects. Even if emissions are stabilized relatively soon, climate change and its effects will last many years, and adaptation will...
at around US$ 200 to US$ 210 billion and US$ 28 to US$ 67 billion, respectively, by 2030.
It is widely recognized that there is a huge funding gap between what is needed and what is available to climate change. This requires a diverse array of funding schemes, ranging from public and private sources, as well as new and innovative mechanisms. In addition, for a successful agreement to be reached at the December 2009 United Nations Climate Change Conference
2009 United Nations Climate Change Conference
The 2009 United Nations Climate Change Conference, commonly known as the Copenhagen Summit, was held at the Bella Center in Copenhagen, Denmark, between 7 December and 18 December. The conference included the 15th Conference of the Parties to the United Nations Framework Convention on Climate...
in Copenhagen, sufficient financial resources must be provided to enable its implementation.
International Public Funds
The provisional of financial resources to address climate change is an integral part of the UNFCCC. The article 4.3 of the convention outlines that developed countries should provide financial resources to pay for the costs incurred by developing countries. In addition, these funds should be new and additional to existing Official development assistanceOfficial development assistance
Official development assistance is a term compiled by the Development Assistance Committee of the Organisation for Economic Co-operation and Development to measure aid. The DAC first compiled the term in 1969. It is widely used by academics and journalists as a convenient indicator of...
(ODA), as well as adequate and predictable.
Recently, there has been a proliferation of new funds to support climate change programmes in developing countries, created by bilateral
Bilateralism
Bilateralism consists of the political, economic, or cultural relations between two sovereign states. For example, free trade agreements signed by two states are examples of bilateral treaties. It is in contrast to unilateralism or multilateralism, which refers to the conduct of diplomacy by a...
and multilateral initiatives.
Private Climate Change Funds
Many European public banks and private firms or organization like CDC Climat provide funds to private parties or banks in developing or poor countries to implement projects in all sectors .Karmanya energy and infrastructure(P) LTD.is controlling 6 million EIP fund in India to implement JI projects in energy efficiency sectors in IndiaAlso see
- 2010 United Nations Climate Change Conference2010 United Nations Climate Change ConferenceThe 2010 United Nations Climate Change Conference was held in Cancún, Mexico, from 29 November to 10 December 2010. The conference is officially referred to as the 16th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change and the 6th session of the...
- Copenhagen AccordCopenhagen AccordThe Copenhagen Accord is a document that delegates at the 15th session of the Conference of Parties to the United Nations Framework Convention on Climate Change agreed to "take note of" at the final plenary on 18 December 2009....
- 2011 United Nations Climate Change Conference2011 United Nations Climate Change ConferenceThe 2011 United Nations Climate Change Conference is an ongoing conference, held in Durban, South Africa, from 28 November to 9 December 2011....