New Global Financing Pact: Issues and Imperatives of Climate Finance

Global warming with consequent climate change has been leading to innumerable natural disasters across the globe. It has been taking huge toll on life, livelihood, and men. Accordingly, global leadership have been brainstorming through different multilateral forums to hammer out policies and scientific interventions to arrest the rising temperature of planet earth. Developing countries and the least developed countries are getting increasingly vulnerable to such disasters for which they may not be the real culprit. The mitigation and adaptation programs require technology and finance on continuous basis with considerable enhancement each successive year. Developed countries which have developed at the cost of environment are being held more responsible for causing damages to environment hence should arrange for finance and ensure technology transfer, which they are not ready to accept. Accordingly, the leaders are breaking their heads to find a solution amidst ongoing blame game. Author has tried to explore the imperatives of climate finance and modalities of procuring fund to address the global problem. Keywords Climate, Finance, Global, CoPs, Climate Politics