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The Climate finance has remained skewed towards mitigation, without ensuring a balance between adaptation and mitigation. Discuss the various mechanisms to achieve Climate finance.

Topic: Disaster and disaster management.

5. The Climate finance has remained skewed towards mitigation, without ensuring a balance between adaptation and mitigation. Discuss the various mechanisms to achieve Climate finance. (250 words)

Difficulty level: Moderate

Reference: The Hindu

Why the question:

Media reports have claimed that developed countries are inching closer to the target of providing $100 billion annually in climate finance to developing countries by 2025 (the original target was 2020).

Key Demand of the question:

To wrtie about the strategies against climate change and understanding of key role of climate finance.

Directive word:

Discuss – This is an all-encompassing directive – you must debate on paper by going through the details of the issues concerned by examining each one of them. You must give reasons for both for and against arguments

Structure of the answer:

Introduction: 

Begin by giving a brief on Paris agreement and the difference in the adoption and mitigation approach to climate change with respect to the developed and developing nations.

Body:

Mention about Climate financing and mechanisms of it such as the Special Climate Change Fund (SCCF), the Least Developed Countries Fund (LDCF), both managed by the Global Environment Facility (GEF) and the Green Climate Fund (GCF).

Also, mention the need for a balance of mitigation as well as adaptation approaches. The path that should be taken in this regard.

Conclusion:

Conclude by stating that a global unified approach acknowledging the greater threats and challenges faced by the developing nations must be acknowledged by the climate financing mechanisms.