COP 29 : A bigger flop than COP 28
Article link: UN Climate Change Conference Pledge
Extract from the article:
The UN climate change conference concluded with a commitment to provide $300 million to the UN to foster a more sustainable climate system.
The primary aim is to expand the participation of countries in the global climate change mitigation efforts, thereby enhancing the effectiveness and reach of climate initiatives.
My Take:
A. Climate Finance Definition - Rose by Any Other Name
"Reflecting on my past blog where I emphasized the urgent need for enhanced provisions and mobilization of resources by developed countries for climate finance, it's evident that the $100 billion per year commitment made in 2015 remains unfulfilled.
The unresolved questions surrounding donor and recipient percentages underscore the ambiguity and lack of transparent mechanisms in climate financing. This underscores the necessity for innovative financial instruments to bridge this gap."
Call to Action:
To the UN and developed countries involved in climate financing: It is imperative to prioritize transparency, accountability, and the fulfillment of commitments made towards climate financing.
Collaborate with domain experts, policymakers, and international bodies to establish clear guidelines and innovative mechanisms to ensure the effective utilization of climate finance for sustainable global climate action.
With regards,
www.HemenParekh.ai / 26 Nov 2024
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