What exactly is climate finance? And why do we want you to be involved in raising or giving out funds for climate mitigation and adaptation projects, ideas, and products from the comfort of your phone or computer? Well, our team has listed 10 basic things to know about Climate Finance.
- Definition:
Climate finance refers to local, national, or transnational financing—drawn from public, private and alternative sources of financing—that seeks to support mitigation and adaptation actions that will address climate change.
2. Where does MyGreen.FUND come in?
Well, we are the first open global digital crowdfunding and micro-investment platform to exclusively facilitate the sharing of alternative sources of financing. Be part of the journey today by creating an account, uploading your project and pictures, sharing on social media, and getting crowdfunded or invested! Or simply donate or comment to support your green project of choice.
3. What international treaties provide for climate finance?
The UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol, and the Paris Agreement among others call for financial assistance from Parties with more financial resources to those that are less endowed and more vulnerable.
4. Is Climate Finance necessary for mitigation?
Climate finance is needed for mitigation because large-scale investments are required to significantly reduce emissions.
5. Is Climate Finance necessary for adaptation?
Climate finance is equally important for adaptation, as significant financial resources are needed to adapt to the adverse effects and reduce the impacts of a changing climate.
6. What do we seek to achieve?
With climate financing, we seek to ensure that there are alternative finance flows that contribute to a world with low greenhouse gas emissions and climate-resilient development.
7. Transparency
We also seek to see an open and transparent world fighting against the climate crisis. Like the Paris Agreement, we emphasize transparency and enhanced predictability of financial support.
8. MyGreen.FUND is about alternative climate financing. What are the other public/private funds to know about?
The UN and international institutions have set up some funding mechanisms. These include the following: Global Environment Facility (GEF), Green Climate Fund (GCF), Climate Change Fund (SCCF), Least Developed Countries Fund (LDCF), and the Adaptation Fund (AF) among others
9. What can I do to contribute to climate and green financing?
Join and create a MyGreen.FUND account today and be part of a global community of environmental rights and climate justice activists directly donate or seek financing for climate and green projects. Sign up at www.mygreen.fund.
10. Is MyGreen.FUND a bank or financial institution?
No, MyGreen.FUND is neither a bank nor a financial institution. We are a climate fintech team providing an innovative digital platform that directly links green capital seekers and well-wishers. We however provide tips, updates, and a platform for everyone. For financial and investment decisions, as with all other matters, we urge you to also consult your lawyers, accountants, and tax advisors.