Climate Funding And Justice : a Global Study

Abstract

All over the world, issues pertaining to the phenomenon of climate change and of climate justice pose a crucial menace to world atmosphere, human life, and social climate. Its influence disproportionately affects vulnerable populations and exacerbate existing inequalities. While the view of climate justice has gained prominence as well as recognition with the passage of time, a significant milestone occurred in December 2015 with the acceptance of the “Paris Agreement” at “United Nations Framework Convention on Climate Change” or “UNFCCC Conference of Parties” (also known as “COP-21”). Although this Agreement does not explicitly mention climate justice, it emphasizes equity and the requirement of developing and disadvantaged countries in addressing climate change induced dangers. In simple terms, climate justice stands for the just and unbiased allocation of both burdens as well as benefits accruing on account of “climate change” and also “climate action”. The paper will correlate it with “climate funding” that refers to allocation of financial and monetary resource in order to bolster efforts of climate change mitigation (reduction of gas emissions, primarily greenhouse gases) and adaptability strategies (the development of effective resilience against impacts of changing climate). It is crucial for implementing climate action plans, transitioning to low-carbon economies, and assisting developing countries in dealing with the adverse effects of climate change. This paper holds relevance owing to the fact that the role of “climate funding” in advancing climate justice objectives has not been extensively explored. This articles aims to know for the concepts of “climate justice” and “climate funding”; evaluate the ethical and equitable principles underlying climate justice; discuss the unequal impacts of “climate change” on exposed populations and also the interrelation of climate change and social imbalance; examine key agreements, for example, the “Paris Agreement” (2015); explore various national funding mechanisms used to address climate change; analyze the effectiveness, challenges, and potential solutions related to climate funding for achieving climate justice goals; evaluating notable case studies of climate funding initiatives; and conclude by summarizing key findings and suggesting future directions.