Raising the stakes on climate funding – the significance of blended finance
Nov 2023 Other
It is a fact that the last decade has been the hottest in 125,000 years! Climate change is a reality, and the Earth is getting warmer each day. The Paris Agreement, signed by 200 countries in 2015, aims to limit the long-term global temperature rise to 1.5°C.
The G20 Summit in New Delhi recently recognized the need for increased global investments to meet the climate goals of the agreement. To implement their climate goals by 2030, developing countries will require $5.8-5.9 trillion. An additional $4 trillion per year is needed for clean energy technologies by the end of this decade to reach net zero emissions by 2050.