Avinash Persaud, special climate adviser to the president of the Inter-American Development Bank, said raising money and getting it to the most in need 'is hard'. So why is it so hard to raise this money, and what are some of the innovative ways of going about it? Political jittersBut governments are limited in the amount they can borrow, he said, and reluctant to dip into their budgets for climate adaptation in poorer nations. In the European Union, which is the largest contributor to international climate finance, major donors face political and economic pressures at home. This could help poorer nations recover from disaster -- known in UN parlance as "loss and damage" -- something few investors go near, he said.

Source: Daily Nation November 17, 2024 01:39 UTC