Climate: ActionAid decries poor global funding for ‘just transition’ projects
ActionAid International has stated that less than three per cent of global climate finance supports “just transition” initiatives.
A new report, “Climate Finance for Just Transition: How the Finance Flows”, found that only 2.8 per cent of climate funding is channelled to just transition projects.
- 1.96 per cent of climate initiatives involve or support local communities.
- Only one United States dollar in every 35 spent on climate action goes to efforts ensuring equitable and inclusive transitions to green economies.
Just transition frameworks involve empowering communities to take part in local planning, providing training for green jobs, and supporting incomes during the shift away from polluting industries.
Author's summary: ActionAid criticizes poor funding for climate projects.
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