CLIMATE FINANCING: THE ROLE OF THE GREEN CLIMATE FUND

Abstract

Climate finance refers to financial resources and instruments that are used to support action on climate change. Adequate financial resources are needed to deal with various environmental problems related to climate change, which are more needed in developing countries like India and Bangladesh. Because this country is densely populated, the per capita income of people is low. In terms of infrastructure and technology, these countries are lagging behind the developed world. Therefore, in addition to the government, various international organizations provide financial grants for the implementation of climate change adaptation and mitigation strategies. E.g., the Green Climate Fund (GCF). The Green Climate Fund (GCF) is the world’s largest dedicated fund, helping developing countries respond to climate change. Besides, various business organizations and NGOs play a leading role in this financial support. In many cases, the amount of this financial support is less than the need, and in many cases, the money received as a grant has problems in implementation due to the lack of specific plans. However, it can be said that the various financial support groups in the developed world should take a leading role in the future in order to protect human lives from the long-term effects of global climate change. In addition to this, local financial-rich people should extend their helping hand.