December 12, 2023
1 min read

Commonwealth Raises $320M in Climate Finance

Commonwealth has raised more than US$320 million in climate finance for small countries, in addition to another US$500 million that is in the pipeline.

UnniKrishnan Divakaran Nair, Head of Climate Change at the Commonwealth Secretariat, said that climate finance is essential to boost investments in low-carbon development and the ability of at-risk countries to mitigate the repercussions of climate change.

He pointed out that the Commonwealth has raised more than US$320 million in climate finance for small countries, in addition to another US$500 million that is in the pipeline.

The Commonwealth official told the Emirates News Agency (WAM) on the sidelines of the 28th United Nations Conference of the Parties (COP28) in Dubai that this current edition of COP was able to provide an opportunity for multilateral work and a platform for communication between stakeholders to advance global climate action.

He mentioned the establishment of the Commonwealth Climate Finance Access Hub (CCFAH), which is a mandate for the Commonwealth Secretariat to unlock financial support to developing countries, and a confirmation of the commitment of the 56 Commonwealth member states to move forward in addressing climate change.

The Commonwealth official pointed to the initiative to provide the necessary training to build the capacities of nearly 2,500 officials from the organisation’s member states, and to provide the necessary research and statistics to gain a deeper understanding of the issue of climate change, in addition to implementing the Commonwealth Charter, which is in line with the United Nations’ commitments to address climate change, desertification, and biodiversity,

He called for the exchange of solutions between Commonwealth member states and to promote new and renewable energy projects.

ALSO READ: ‘Efforts to Solution’: Sadhguru Hails COP28 UAE

Previous Story

India Slips to Fourth Global Ranking in Startup Funding for 2023

Next Story

Indian Markets Set to Break New Records

Latest from -Top News

AU Backs New UN Libya Roadmap

The Roadmap seeks to resolve the Libyan crisis through a political process centred on institutional unification…reports Asian Lite News The Chairperson of the African Union Commission (AUC), H.E. Mahmoud Ali Youssouf, has

Sudan Feels Impact of GERD

The GERD project remains a point of contention among Nile Basin countries….reports Asian Lite News Water levels in Sudan’s Blue Nile have fallen to record lows following Ethiopia’s announcement that it has

UNESCO sounds alarm on teacher gap

Amina Mohammed proposed a five-point plan to strengthen the profession through greater investment, gender equality, support for digital learning…reports Asian Lite News At the UNESCO World Summit on Teachers in Santiago, Chile,

Modi Ends China Trip, US Hails India Ties

US termed India-US ties as a “defining relationship of the 21st century”, stating that partnership between both countries continues to reach new heights….reports Asian Lite News Shortly after videos and images of
Go toTop

Don't Miss

COP28 UAE Presidency Launches Water Agenda

The COP28 Presidency announced a partnership with the Netherlands and

Commonwealth nations mark 75-year milestone

Commonwealth Day is traditionally celebrated on the second Monday in