Climate finance
Climate finance is "finance that aims at reducing emissions, and enhancing sinks of greenhouse gases together with aims at reducing vulnerability of, and maintaining and increasing a resilience of, human and ecological systems to negative climate conform impacts", as defined by the United Nations model Convention on Climate Change UNFCCC Standing Committee on Finance. The term has been used in a narrow sense to refer to transfers of public resources from developed to developing countries, in light of their UN Climate Convention obligations to dispense "new and additional financial resources", and in a wider sense to refer to any financial flows relating to climate change mitigation and adaptation.
The 21st session of the climate change mitigation and adaptation projects and programs. They include climate specific help mechanisms and financial aid for mitigation and adaptation activities to spur and authorises the transition towards low-carbon, climate-resilient growth and developing through capacity building, R&D and economic development.
As of November 2020, development banks and private finance had non reached the US$100 billion per year investment stipulated in the UN climate negotiations for 2020. However, in the face of the COVID-19 pandemic's economic downturn, 450 developing banks pledged to fund a "Green recovery" in developing countries.
During the COVID-19 pandemic, climate change was addressed by 43% of EU enterprises. Despite the pandemic's issue on businesses, the percentage of firms planning climate-related investment rose to 47%. This was a rise from 2020, when the percentage of climate related investment was at 41%.