In the fiscal year 2022, the World Bank Group delivered a record 31.7 billion dollars to help countries address climate change. Some questions need to be addressed: Where does this money go? What is it used for? And most importantly—is this enough? Climate change is an increasingly distressing issue that needs to be fought globally, but there are a lot of complexities within the issue itself. Not only is it complex to fight scientifically and politically, but it is also a global economic issue. Finances appropriated towards climate change should be used towards mitigation and adaptation—both necessary for the main governmental focus of lowering greenhouse gas emissions and guiding climate-resilient development. Because of the discrepancy between countries’ vulnerability, the Paris Agreement calls for financial assistance from those with more resources to help those that are less endowed. Many countries do not have the funds to install high-end solutions, and those that do refuse to use it on this issue or provide those resources to another country. Unfortunately, this issue needs to be addressed now, and the finances associated need to be confronted worldwide in order to solve these problems. This presentation provides an analysis of the progress, solutions, and effectiveness of climate finance represented by the nations associated with COP27 in Sharm El-Sheikh, Egypt.

Evaluating the conditions of global climate finance: Progress, solutions, and effectiveness

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