Climate Finance
Climate finance is the financial resources that are mobilized to support climate action.
This can include investments in renewable energy, energy efficiency, sustainable transportation, and other measures to mitigate climate change.
It can also include funding for adaptation to the impacts of climate change, such as improving drought-resistant crops or building seawalls to protect coastal communities.
Climate finance can come from a variety of sources, including public, private, and alternative sources.
Public sources include government budgets, multilateral development banks, and climate funds such as the Green Climate Fund.
Private sources include banks, investment funds, and insurance companies.
Alternative sources include philanthropy, carbon markets, and social impact bonds.
Climate finance is essential for addressing climate change.
Paris Agreement on Climate Change
The Paris Agreement on Climate Change is a legally binding international treaty on climate change.
It was adopted by 196 Parties at the UN Climate Change Conference (COP21).
Place and Date - Paris, France, on 12 December 2015 and entered into force on 4 November 2016.
The agreement sets out a framework for global cooperation to reduce greenhouse gas emissions.
Limit global warming to well below 2 degrees Celsius above pre-industrial levels.
Pursue efforts to limit the increase to 1.5 degrees.
This is the first agreement to bring all countries together to take action on climate change.
The agreement is essential for limiting global warming and avoiding the worst impacts of climate change.
Article 9 of the Paris Agreement
Article 9 of the Paris Agreement on Climate Change establishes a framework for mobilizing climate finance.
This finance is to support mitigation and adaptation actions in developing countries.
Article 9 establishes following commitments for developed countries,
To provide financial resources to assist developing countries with respect to both mitigation and adaptation, in continuation of their existing obligations under the Convention.
To mobilize jointly with public and private financial institutions, climate finance flows, from a wide variety of sources, instruments and channels, noting the significant role of the private sector in mobilizing climate finance.
To further promote and facilitate the mobilization of financial resources for adaptation.
UNFCCC
UNFCCC is an international treaty adopted in 1992 at the Earth Summit in Rio de Janeiro, Brazil.
The UNFCCC sets out a framework for action to stabilize atmospheric greenhouse gas concentrations at a level that would prevent dangerous anthropogenic interference with the climate system.
The UNFCCC entered into force on 21 March 1994.
It has near-universal membership, with 198 countries that have ratified the Convention.
UNFCCC
UNFCCC is the parent treaty of the Kyoto Protocol (1997) and the Paris Agreement (2015).
The Kyoto Protocol established binding targets for developed countries to reduce their greenhouse gas emissions.
The Paris Agreement sets a long-term goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels, and to pursue efforts to limit the increase to 1.5 degrees Celsius.
The Conference of the Parties (COP) to the UNFCCC meets annually to review progress on climate change.
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