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In 2009, at COP 15 in Copenhagen, the developed countries committed to mobilize a minimum of $100 billion a year for developing countries to help finance their climate actions.
In 2009, at COP 15 in Copenhagen, the developed countries committed to mobilize a minimum of $100 billion a year for developing countries to help finance their climate actions. It is instructive to note that 15 years after, this target is yet to be achieved. This is not an isolated case, but symbolic of the many unkept promises on the funding of climate finance for developing countries. If Africa is to meet its net zero commitments, there needs to be much more innovate solutions for meeting the peculiar climate finance challenge of the continent. This study group session considers whether debt for nature swaps, which is the exchange of restructured debt for climate action, could be a viable solution.
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Contact: Susan Gill