We need innovative ways to fill the climate funding gap
The recent COP27 and COP15 conferences resulted in commitments to finance solutions for climate change and biodiversity, but negotiations on finer details are yet to be worked out. A new Loss and Damage Fund has been proposed to assist developing countries, but there is doubt over whether promises will be kept. A global commitment to raise international financial flows was also made, but there is no clear roadmap to achieve this. To create an overarching fund for the planet?s recovery, proposals include a Global Carbon Tax and a Financial Transactions Tax. Private capital financing has a vital role to play.
The recent COP27 and COP15 conferences resulted in commitments to finance solutions for climate change and biodiversity, but negotiations on finer details are yet to be worked out. A new Loss and Damage Fund has been proposed to assist developing countries, but there is doubt over whether promises will be kept. A global commitment to raise international financial flows was also made, but there is no clear roadmap to achieve this. To create an overarching fund for the planet?s recovery, proposals include a Global Carbon Tax and a Financial Transactions Tax. Private capital financing has a vital role to play.