Report by Centre for Budget and Governance Accountability (CBGA) Climate Change is one of the most difficult challenges facing the world today and its resolution requires concerted global action by countries across the world. The 2015 Paris Agreement was an effort in this direction. It saw as many as 195 countries commit to drastically reducing their greenhouse emissions (through mitigation actions) and protecting their people from the negative impacts of climate change (through adaptation actions). As countries prepare to undertake climate actions that they had committed to in Paris, it is becoming clear that significant investments would be required to meet these ambitious goals. Policies would need to be backed by financial commitments if countries are to “reduce their emissions, decarbonize their economies, and adapt to the impacts of climate change” (Nakhooda, Watson and Schalatek, 2013, 2). Climate Finance has to be a key element of action against climate change. Read More