Financial flows dip

IMMEDIATE actions, including the public and private funding of developing economies, must be taken to slow global warming, says the latest Intergovernmental Plan on Climate Change (IPCC) report. Financial flows are a factor of three to six times lower than levels needed by 2030 to limit warming to below 2°C (3.6°F), according to the IPCC. While there has been consistent expansion of policies to mitigate the impacts of climate change, the report says that “progress on the alignment of financial flows towards the goals of the Paris Agreement remains slow and tracked climate finance flows are distributed unevenly across regions and sectors” — African Business