The conference, attended by world leaders, government officials, non-governmental organizations – NGOs, and activists, is pivotal in addressing climate concerns.
While recognizing the efforts of certain governments, numerous activists & NGOs are stressing the imperative for more immediate and tangible action. Their calls include advocating for more robust emission reduction targets, increased financial aid for developing nations, replenishing the Loss and Damage Fund, and facilitating a just transition to a low-carbon economy.
Meanwhile, in the financial landscape of climate action, several key announcements have been made. A substantial $3.5 billion in new funding has been designated for the Green Climate Fund (GCF), intensifying global endeavors against climate change. Further, $133.6 million has been allocated to the Adaptation Fund, underscoring the crucial need for building resilience.
The Least Developed Countries Fund (LDC) is slated to receive $129.3 million, providing support to nations grappling with developmental challenges and climate vulnerabilities. Additionally, the Special Climate Change Fund (SCCF) is set to benefit from $31 million, directing resources toward targeted initiatives.