-

Climatechange is a global issue that seeks the utmost attention across the globe. The efforts at inter-governmental, community, and individual levels are taking place on priority to counter the rising challenges that can fix the issue and save the planet Earth. To attain a viable future and minimize the ill impacts, a huge demand for climate funds and investments is needed which can fuel the growth of a low-carbon economy across the globe.

Source: https://pixabay.com/illustrations/earth-horizon-earth-from-space-1785915/

The United Nations Conference on Trade and Development (UNCTAD) Report estimates the need for around US$ 4 Trillion in finance annually to fight against climate change and achieve SDG targets. The key multilateral development banks lent US$ 230 billion in 2020 which was a mere share of the total finance needed to scale up the climate efforts in a conducive policy space.

The world is developing mechanisms that can effectively fill these gaps and amplify climate investment to nurture sustainable growth. As per the estimated targets of 2030, a mere 6% of the investment needed by 2025 has been met to date through various means such as public funds, institutional lending, etc.

To fill this gap, the World Economic Forum (WEF) has devised a Philanthropic Public-private Partnership with the name of “Giving to Amplify Earth Action” (GAVA). It will give a new push to accelerate climate efforts and save nature. With more than 100 committed partners, the initiative will catalyze the transformational shift in speed and scale of climate investment. It will create the flow of seed capital to increase the financial resources with the help of sustainable business practices.

Apart from this, the Exchange-traded Funds (ETFs) synced with ESG attributes are also designed to meet the growing demand for climate investment with a key focus on carbon emission. Thus, the world is moving forward with diversified cutting-edge investment solutions to nurture a fossil-free sustainable future that has more operational efficiency.

These efforts will promote safe and sustainable climate funds that can benefit diverse stakeholders through the identification of new interventions to support long-term success. The increased investment choices combined with effective policy change and continuous corporate engagement promise to strengthen the scenario of climate finance globally.


Comments

Post a Comment

Popular posts from this blog

SIDBI's Maiden Green Climate Fund Project Aligning India's Climate Action Efforts

-
Image
The world is gearing up to deal with the evil impacts of climate change as these are becoming more visible and hampering developments across sectors. Thus, India is also preparing for its fight against climate change by securing its first Green Climate Fund (GCF) Project named the Avaana Sustainability Fund (ASF) . The Small Industries Development Bank of India (SIDBI) an Accredited Entity (AE) of GCF has securely achieved its maiden green climate project in March 2024 at Kigali, Rwanda. Source: https://www.entrepreneur.com/en-in/news-and-trends/sidbi-secures-first-green-climate-fund-gcf-project/470953 This project worth a market value of US$ 120 million includes GCF investment of US$ 24.5 million . This GCF share of investment is provided by the South Korean division of GCF which is considered the world’s largest climate fund . The ASF project will invest in early-stage companies that have mastered their prototypes, business plans, and service models concerning climate change. Under...
Read more

India Exhibiting at World Travel Market 2024 to Tap Potential of Indian Diaspora

-
Image
In recent years, India's tourism sector has witnessed a significant resurgence, with international tourist arrivals reaching 14.3 million in 2022, representing 1.47% of the global inbound tourism market share . A substantial portion of these visitors comprises the Indian diaspora, which accounted for 26.9% of foreign tourist arrivals in 2023 . Source: https://www.deccanherald.com/india/india-to-participate-in-the-world-travel-market-in-london-3262818 Recognizing this potential, the Ministry of Tourism, Government of India, participated in the World Travel Market (WTM) in London held in 2024 between November 5 to November 7 , aiming to strengthen ties with the diaspora and promote India as a premier travel destination. The United Kingdom, hosting approximately 1.9 million individuals of Indian origin, is the second-largest source market for inbound tourists to India . At WTM 2024, India's delegation, comprising nearly 50 stakeholders—including state governments, inbound to...
Read more

NASA's MARS Simulation Mission: Source to Improve Efficiency of Future Manned Missions to Mars

-
Image
  Mars is on the priority list of human space exploration where the traces of life's existence may be achieved. NASA's CHAPEA (Crew Health and Performance Exploration Analog) project i.e. a Mars simulation mission is thus crucial and is aiming to improve efficiency and ensure the safety of astronauts during its future manned missions to Mars. Source: https://www.nasa.gov/humans-in-space/humans-to-mars/#preparing Recently, on 6 th July 2024, the four volunteers completed their first MARS simulation mission under this project at Jhonson Space Center, Houston which was started on 25 th June 2023 . The crew at Mars Dune Alpha Habitat which is a 1,700-square-foot, 3D-printed structure consisted of individuals selected to simulate the roles and diversity expected on a real Mars mission. NASA is preparing for its manned mission to Mars in 2030 and before that, it has planned to execute two more such simulation missions in 2025 and 2027 respectively under this project. The pr...
Read more