From November 7-18, 2016, climate diplomats from around the world met in Marrakech, Morocco for the COP22 U.N. climate negotiations.
This year’s talks, which have been dubbed “the COP of action,” focused on hammering out details to implement climate change mitigation and adaptation objectives set forth by the Paris Agreement.
In support of this overarching goal, various pledges were announced. We’ve compiled several finance-related highlights:
- USAID announced $4 million to solar start-ups for African off-grid energy
- Canada announced $2 million to the National Adaptation Plans (NAP) Global Network to fund climate-capacity building in developing countries
- Canada, Denmark, the European Union, Germany, Italy, Japan, Korea, Switzerland and the United States announced over $23 million to support technology transfer in developing countries through the Climate Technology Centre & Network (CTCN)
- The World Bank set a target of providing $1.5 billion per year by 2020 to support climate action in the Middle East and North Africa
- The Global Environment Facility (GEF) launched the Capacity-building Initiative for Transparency, a new trust fund to support openness and delivery of national climate plans
- The $500 million Marrakech Investment Committee for Adaptation (MICA) Fund was launched, a first ever partnership with the private sector forming an investment vehicle for adaptation and resilience