Imposing a tax on big fossil fuel companies could boost climate finance by up to $900 billion by the end of the decade. The International Energy Agency IEA has repeatedly emphasized the need for higher levels of climate funding to meet global climate goals and achieve a green transition, but finding this money is not so easy. A recent report has potentially identified a way to raise funds to develop the renewable energy capacity of low-income nations, thereby helping the global green transition.
Around 200 countries supported the creation of the fund. Many states across the developing world are highly vulnerable to the effects of climate change and do not have the means to tackle climate change or develop their renewable energy capacity to support a green transition. The fund was established to help countries around the world to combat climate change.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: OilandEnergy - 🏆 34. / 68 Read more »