Abstract:

The effects of global climate change are already being felt on all continents, both ecologically and economically. The need to reduce the pressure on nature, slow down climate change and move to a sustainable way of obtaining energy from renewable sources is now being discussed at the world's highest assemblies. However, the problems of capital intensity of financing projects and the need for financial resources remain a stumbling block for the transition to a green economy. To address these issues, global practice must agree on climate finance. Long-term investments in measures to combat and adapt to climate change, as well as countries' financial commitments, are the key to success in implementing the Paris Agreement. Despite positive measures to increase the ambition of climate policy, the stated goal and government actions are still insufficient to meet the contribution to the international 100bn USD commitment on climate related expending as it is proven in the research. The lack of a link between economic development plans and the solution of environmental and climate issues is the main controversy regarding the use of funds. As the research is showing, the highest contributions come from developed countries with a noticeable PIB. In addition, their share not only that exceeds the EU average, but also their stake to the contribution is as much as the ones with the smallest funds Although the deadline for reaching the contribution has been extended, it remains uncertain whether in the current context countries will face the challenges.