Organized by the UN Climate Change’s Momentum for Change initiative, in partnership with the World Economic Forum Global Project on Climate Change, the Financing for Climate Friendly Investment panel was part of a series of events to showcase global climate action at the UN Climate Change Conference in Madrid, Spain (COP 25). This event recognized how innovation is playing a key role in unlocking financial resources, resulting in greater institutional capacity to fund activities that promote low-carbon growth and highly resilient communities. This event showcased the three winning activities of the 2019 UN Global Climate Action Award, under the Financing for Climate Friendly Investment focus area.
Learn more: unfccc.int/climate-action/momentum-for-change/financing-for-climate-friendly-investment
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The UNFCCC secretariat (UN Climate Change) is the United Nations entity tasked with supporting the global response to the threat of climate change. UNFCCC stands for United Nations Framework Convention on Climate Change. The Convention has near universal membership (197 Parties) and is the parent treaty of the 2015 Paris Agreement. The main aim of the Paris Agreement is to keep the global average temperature rise this century as close as possible to 1.5 degrees Celsius above pre-industrial levels. The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol. The ultimate objective of all three agreements under the UNFCCC is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system, in a time frame which allows ecosystems to adapt naturally and enables sustainable development.