The global effort to combat climate change hinges on securing trillions of dollars to finance a shift towards renewable energy sources. This year's crucial climate negotiations, with high-level meetings in New York, Baku, and Rio de Janeiro, are seen as humanity's 'last chance' to avoid exceeding globally agreed warming limits.
NEW YORK — The effort to save the pale blue dot called Earth is all about the green — that is, the money to finance a transition to renewable energy sources like wind and solar.combination is putting special emphasis on how to generate trillions of dollars to help poorer countries move away from gas, oil and coal that emit greenhouse gases and heat the planet. They also needin 2023, 2024 and 2025 are seeking to push nations into a new round of dramatic pollution cuts with their own efforts.
This is the week that “the cries of the global majority will make it very loud and clear” that this climate financial help for poor nations is crucial, said PowerShift Africa's Mohamed Adow, a longtime climate analyst. They will do so on the floor of the U.N., at outside events during Climate Week and in one-on-one meetings between national leaders in town for the annual General Assembly, he said.
Much more than 10 years ago when the Paris climate agreement was struck, people now realize climate finance is crucial to cutting emissions, Dasgupta said. Much of Climate Week involves companies and financial networks talking about their green credentials. Dasgupta said they need to step up, because the world’s nations can’t do more than $1 trillion in direct funding.
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