Finance is a great enabler of climate action, said UN climate change executive secretary Simon Stiell as he kicked off Finance Day, which included a series of pledges for the Green Climate Fund, commitments from international banks and support for debt relief for vulnerable countries.
Heres ESG Claritys round-up of the key announcements:
Green Climate Fund sees record funding
The Green Climate Fund saw a further $3.5bn in pledges at COP28 from five different nations meaning the amount pledged over the next four years is now at $12.8bn, a record level.
It follows the $9.3bn committed at the High-level Pledging Conference in Bonn in October where 25 countries pledged their support to form the second replenishment of the fund.
At COP28…
Read the full article at: https://esgclarity.com/cop28-finance-day-record-climate-funding-debt-relief-and-calls-for-collaboration/