Climate Finance: A Key to Sustainable Growth and Climate Action
Economic Growth, Inclusion, and Climate Action Intertwined
Climate finance plays a pivotal role in addressing climate change due to the substantial investments required. By mobilizing resources, climate finance can drive transformative action, addressing both the environmental and developmental challenges facing the world.
Breakthrough Needed in Climate Finance
A new roadmap for climate finance is urgently needed to mobilize the necessary investments. Eight international organizations and development finance institutions have come together at COP28 to announce their commitment to scaling up climate finance.
Six Ways to Scale Up Finance
Experts propose investing an average of 14% of GDP annually in developing countries to reduce emissions and support sustainable development. This approach would empower the most vulnerable populations and foster a just transition to a low-carbon future.