03 Nov Day 3 COP26
Finance
Finance ministers from different countries gathered to work out how to finance climate action across the world.
Lots of countries have pledged money- in fact a total of $8.5 billion dollars has been pledged to help South Africa move to clean energy. It is the world’s most carbon intensive electricity producer.
The UK said it has found $130 trillion dollars of private finance to help finance net zero.
$100 billion dollars is needed to help countries adapt to the climate change that is already here. The following countries have so far committed money for adaptation: Norway, Japan, Australia, Switzerland, US, Canada, UK, Spain Japan Australia Norway Ireland Luxembourg.
Private financial institutions have pledged to align investments with net zero.
Five countries are involved in a trial to see how they can use this money to adapt to climate change-they are Bangladesh Fiji, Jamaica and Uganda.
Funding has been announced for money to go into science and technology to provide solutions.
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