Climate Finance: Your Learning Path at the Island Finance Forum

One of the content tracks of the upcoming Island Finance Forum will focus on Climate Finance. Do you know what this term means?

Climate Finance refers to financing that seeks to support mitigation and adaptation actions to address climate change. 

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The contribution of each country to climate change varies enormously. So does their capacity to prevent it and cope with its consequences. Some of the countries most seriously threatened by its effects tend to be those that cause the least pollution.

One example of this is Kiribati, an idyllic Pacific atoll nation that seems destined to become the first victim of climate change. Kiribati is responsible for just 0.6% of world greenhouse gas emissions, but two of its uninhabited islands, Abanuea and Tebua Tarawa, have already disappeared under the waves. 

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Climate finance is needed for mitigation and adaptation, as significant financial resources are required to reduce greenhouse gas emissions and adapt to the adverse effects of a changing climate.

According to the principle of “common but differentiated responsibility and respective capabilities” set out in the United Nations Framework Convention on Climate Change (UNFCCC), developed country Parties are to provide financial resources to assist developing country Parties in implementing the objectives of the UNFCCC.

Learn more about Climate Finance on our latest blog post: Developing More Resilient SIDS with Climate Financing.  We look forward to seeing you at the Island Finance Forum!