Reimagining climate finance

To effectively facilitate a transition to climate-friendly development, global transfers must be tailored to each nation's specific needs

Climate change is once again emerging as the most critical challenge for global cooperation because of the widespread experience of adverse climate events and the growing evidence of the inadequacy of current efforts for mitigation. Of the many negotiation issues, climate finance will probably play an important role in the forthcoming meeting of the UN Framework Convention on Climate Change (UNFCCC) in Dubai this December. The main challenge is to determine the quantum and the funding responsibilities about the required transfer of funds from developed to emerging market and developing countries (EMDCs) for climate-related actions.

A recent report delves deeper than