Climate Financing: Concept, Issues and Mitigation Strategies A Literary Review

Abstract

The primary objective of the Global Climate Fund (GCF) is to aid developing-world climate initiatives, programmes, policies, and readiness. Rich nations are under attack from developing nations with similar views if they try to reverse the inevitable climate change that will affect the entire planet. To combat climate change, developed nations must significantly increase funding. Warming temperatures, according to climate change research, pose long-term economic risks; therefore, forward-looking financial markets are essential for gauging the societal implications of climate change. Death rates are projected to increase by 3%, while annual energy demand in human settlements is projected to increase by 11%, both due to global warming. Increases in rainfall due to climate change have contributed to urbanisation in parts of Sub-Saharan Africa, but not elsewhere in the developing world. Urban sprawl and other city-based patterns and structures may be significantly impacted by a rise in global temperatures. The positive benefits of climate change on national economies are well-documented. The effects of climate change and current events on funding will be analysed, and suggestions for mitigating them will be provided.

Keywords: Climate Change, Climate issues, Climate finance, Mitigation Strategies.

JEL Code: Q54

DOI: 10.7176/JESD/15-2-04

Publication date: January 31^st 2024