Potential projects range across energy, agriculture and health, while particular consideration will be given to activities targeting climate action in least developed countries or small island developing states.
The fund will also support capacity building and knowledge exchange activities between organisations inand developing countries, Mr Brophy confirmed. The private sector is playing an integral role in financing the global climate response, he added. According to the Climate Policy Initiative Global Landscape of Climate Finance, private finance for climate action reached $340 billion globally in 2020, accounting for 49 per cent of global climate finance to developing countries.
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