Much of the Global South is on the front lines of climate change and countries are calling on the Global North to help fund the fight. At COP26, countries like the US, UK, Germany, France, and the EU launched the Just Transition Energy Partnership or JET-P by pledging South Africa 8.5 billion dollars to help them move away from fossil fuels in a just and equitable way. Though this is certainly a step in the right direction, the scale of funding required to move the global community to a greener economy is immense. And developing countries typically lack the resources to make this change alone.
This week, Heat of the Moment heads to COP27, held last year in Sharm el Sheikh, Egypt where Foreign Policy magazine and the Climate Investment Funds convened a panel on just this question. Foreign Policy's editor in chief Ravi Agrawal was joined by Climate Investment Funds CEO Mafalda Duarte, Former UK COP26 Envoy John Murton, U.S. Department of Treasury Climate Counselor John Morton, and Rodrigo Ventura, an advisor at the National Council for Climate Change in the Dominican Republic.