Local, national or transnational financing-drawn from private, public and alternative financing sources referred by Climate financing.
Climate Finance Urged Ministry Of Finance
24 March 2021 Current Affairs:The Minister of Finance of India urges advanced economies to expand their commitments to climate finance and technology transfer, which is essential to achieving climate-related commitments and goals. The Minister delivered a speech at the International Conference on Disaster Resilient Infrastructure (ICDRI).
♦ Local, national or transnational financing-drawn from private, public and alternative financing sources referred by Climate financing.
♦ The United Nations Framework Convention on Climate Change, the Kyoto Protocol and the Paris Agreement call on countries with more financial resources to provide financial assistance to countries with weaker and more vulnerable financial resources.
♦ It conforms to the principle of common but differentiated responsibilities and respective capabilities.
♦ Climate financing is essential to solve the problems caused by climate change and to achieve the goal of limiting the increase in the average temperature of the earth to below 2 degrees Celsius below the pre-industrial level, as predicted by the 2018 IPCC report.