Marrakech Partnership for Global Climate Action | UPSC – IAS
The Marrakech Partnership for Global Climate Action, established at the CoP22 (UNFCCC), aims to mobilize climate actions quickly and to reap the benefits in efficiency and effectiveness through partnerships and coordination between different actors.
It lists out some of the progressive steps taken and benefits of Climate action in the Yearbook of Global Climate Action 2018:
About 60 per cent of the initiatives are producing outputs that put them on a path to achieving their desired environmental or social outcomes.
The outputs from cooperative initiatives are increasingly being delivered in low- or middle-income countries. This reflects increased climate action in developing countries and increased international cooperation.
Climate action is re-shaping the financial sector to help transition to a net-zero carbon and resilient society. Businesses and investors are also reporting on and are managing climate risks and opportunities and implementing the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Increasingly mainstreaming of climate change into financial institutions’ operations and investment decisions. E.g. the green bond market. In 2018, the total value of climate-aligned bonds peaked at USD 1.45 trillion.
