compensation fund for climate

compensation fund for climate

Blog Article

obstacles that hinder access to funds. Abu Dhabi has pledged to complete negotiations at COP28 on the compensation fund for climate change-related loss and damage in developing countries, agreed after some discord at COP27. Indeed, there is a global shortage of dedicated climate finance frameworks, including in the GCC monarchies. Some promising initial projects include the 2021 Sustainable Finance Framework in the UAE, which has pushed dozens of financial institutions to lend and invest in environmentally sound activities; a 2019 scheme from Oman’s Bank Muscat to encourage renewable energy installation; and Saudi Arabia’s 2022 Green Finance Framework through its Public Investment Fund – the country’s sovereign wealth fund – which has released two tranches สล็อตเว็บตรง