{"id":25411,"date":"2024-07-27T07:22:45","date_gmt":"2024-07-27T01:52:45","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=25411"},"modified":"2025-10-07T16:00:26","modified_gmt":"2025-10-07T10:30:26","slug":"climate-finance-action-fund","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/climate-finance-action-fund\/","title":{"rendered":"Climate Finance Action Fund"},"content":{"rendered":"<h2><strong>About Climate Finance Action Fund:\u00a0<\/strong><\/h2>\n<ul>\n<li>It will be <strong>capitalised with contributions<\/strong> from <strong>fossil fuel producing countries<\/strong> and companies across oil, gas and coal, and Azerbaijan will be a founding contributor.<\/li>\n<li>It was launched <strong>within a package of 14 initiatives<\/strong> under the <strong>framework of the <\/strong><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/cop-29\/\" target=\"_blank\">COP29<\/a> thematic days.<\/li>\n<li>It will be a catalytic public-private partnership fund, mobilising the private sector and de-risking investment.<\/li>\n<li>The fund will also contain special facilities with concessional and grant-based support to rapidly address the consequences of natural disasters in the developing countries in need.<\/li>\n<li>CFAF will become operational at the conclusion of the initial fundraising round, which seeks to capitalise the <strong>fund with $1 billion<\/strong>, and when 10 contributing countries committed as shareholders.\n<ul>\n<li><strong>Fifty percent<\/strong> of the capital will be directed towards <strong>climate projects in developing countries<\/strong> that rely on support, across mitigation, adaptation, and research and development.<\/li>\n<li><strong>Fifty percent<\/strong> of the contributions will be allocated to helping meeting members\u2019 the next generation of <strong>Nationally Determined Contributions<\/strong> (NDCs) to keep the 1.5C temperature target within reach.<\/li>\n<\/ul>\n<\/li>\n<li>Twenty percent of the revenues generated from investments will be deposited in a Rapid Response Funding Facility (2R2F) providing highly concessional and grant-based support.<\/li>\n<\/ul>\n<p>The fund will be headquartered with its secretariat in Baku, Azerbaijan<\/p>\n<hr \/>\n<h3>Q1: What is the United Nations Framework Convention on Climate Change (UNFCCC)?<\/h3>\n<p>The United Nations Framework Convention on Climate Change (UNFCCC) is a treaty that establishes the legal framework for international cooperation on climate change. The UNFCCC&#8217;s goal is to stabilize greenhouse gas concentrations in the atmosphere to prevent dangerous human interference with the climate system.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.downtoearth.org.in\/climate-change\/un-cop29-azerbaijan-will-the-new-climate-finance-action-fund-cfaf-help-developing-countries\" target=\"_blank\" rel=\"nofollow noopener\">UN COP29 Azerbaijan: Will the new Climate Finance Action Fund (CFAF) help developing countries?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Climate Finance Action Fund will be capitalised with contributions from fossil fuel producing countries and companies across oil, gas and coal, and Azerbaijan will be a founding contributor.<\/p>\n","protected":false},"author":5,"featured_media":25412,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-25411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=25411"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/25412"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=25411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=25411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=25411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}