Developing countries are calling for transformation in global financial systems to better support their green transitions, but despite some progress and efforts to provide funding for climate change through debt forgiveness plans and other measures.
- Jun 30, 2023, 5:00 PM CDT
There is an overwhelming disparity in green investment, with 81% financed by the private sector in high-income countries and only 14% in developing countries. For hundreds of years, since the industrial revolution of the 1700s and 1800s, Europe and North America have been contributing heavily to the world’s greenhouse gas emissions. It is only in recent decades that scientists have fully understood the negative impact that industrial activities and transportation have had on the planet, and called on countries around the world to reduce their carbon emissions.
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