New Climate Change Strategy is Unveiled by the World Economic Forum

Endeavor against climate change will be reinforced with the mass funding coordinated by The World Economic Forum (WEF) to fight the crisis we all are facing.

The World Economic Forum (WEF) announced an initiative on Tuesday to raise the $3 trillion in funding needed annually to combat climate change and the loss of natural habitat.

According to a statement from the WEF, more than 45 significant governmental, corporate, and charitable partners support the Giving to Amplify Earth Action (GAEA).

It stated that the goal of guiding the planet towards a 1.5-degree Celsius warming route "hangs in the balance" due to the ongoing energy and expense of living issues.

According to the press release, current funding is slow and insufficient, and a fresh strategy is required to get money flowing. "Philanthropic giving" can help with this, it was added.

Our attempts to get the globe back on track are about to accomplish our environmental goals. "We need to unlock not only private capital and government finances, but also the philanthropy sector as a really catalytic force to accomplish the necessary acceleration to repair the Earth's systems," said Klaus Schwab, the founder and executive chairman of the WEF.

Despite an increase in philanthropic funding for climate mitigation in recent years, only 2% of it—$810 billion—went toward lowering emissions in 2021. (Anadolu)