Climate finance: failing to serve the most vulnerable?

(Climate Home News, 21 Feb 2020) Climate finance is one of the building blocks of negotiations at the United Nations Framework Convention on Climate Change (UNFCCC) – money both from public and private sources to help reduce emissions and increase resilience against the negative impacts of climate change.

UNFCCC, the Kyoto Protocol and the Paris Agreement called for financial assistance from Parties with more financial resources to those that are less endowed and more vulnerable.

A study conducted by the International Institute for Environment and Development (IIED) suggested that less than 10 percent of funds committed under different global climate financing windows are being spent to help marginalized communities adapt to climate change impacts and adopt clean energy.

So, the question is why the rate of climate finance reaching the vulnerable people most in need of the money – to cope with impacts such as more heatwaves, rising sea levels, more powerful cyclones or droughts  – is not satisfactory and what should be done in order to mitigate this.

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Climate Home News, 21 Feb 2020: Climate finance: failing to serve the most vulnerable?