$100+ Billion of Climate Finance
We must urgently realize new scales and sources of climate finance for developing countries to enable our rapid transition to zero-carbon, climate-resilient societies. This includes additional public funding for mitigation and adaptation at a level at least comparable to current global ODA (around 135 billion USD p.a.). Innovative schemes such as globally funded renewable energy feed-in tariffs are required. The private sector must be encouraged to mobilize substantially larger sums. Governments should engage with banks and pension funds, enabling a shift to climate-friendly investments. Global and national climate funding must be effective, transparent and accountable.