Comment

When considering what kind of support developing countries will need to implement their climate plans (Nationally Determined Contributions) under the Paris Agreement, let’s not forget that emission reductions offered in current climate pledges are grossly inadequate to meet the objective of the Paris Agreement to keep warming to 1.5°C, and therefore must be ramped up. If emission reductions are not ramped up, the climate change impacts will be unnecessarily severe, damages will be unnecessarily large, and the costs of adaptation will be unnecessarily high.

12th meeting of the Green Climate Fund Board — decisions reflect the 1.5° temperature limit and a five-year goal for decarbonisation of private banks’ investment portfolios.