Climate Finance, Climate Talks, COP24 - Warsaw, Green Fund

COP24: a toolkit for a better, faster, stronger climate finance?

This article is written by Noémie Robin.

Since the Paris Agreement, it has been agreed that whether they are developed or developing, all countries have to fight against climate change and have to put efforts into the transition toward a low-carbon and resilient economy. Indeed all States need to be involved, because if change occurs only in developed countries, the result would not be enough to reach the target of 1.5°C presented by the Intergovernmental Panel on Climate Change (IPCC) in their last report in October. But as the article 9 of the Paris Agreement stated, it has been recognized that it would be difficult for developing countries to support the cost of their transition while they do not have the same financial resources or capacities as developed countries. Thus, developed countries have the duty to financially assist developing countries with respect to mitigation and adaptation and they shall lead the climate finance mobilization from a variety of sources, like public funds. In order to insure this transition, $100 billion per year by 2020 have been pledge from industrialized countries to help the poorer countries to achieve their transition toward a green economy.

Lire la suite « COP24: a toolkit for a better, faster, stronger climate finance? »