Climate Finance

Climate Finance

Subject : Economy

Context:

Only 1.7% of climate finance is going to small farmers who produce 1/3 of the world’s food according to the International Fund for Agricultural Development (IFAD).

Concept:

International Fund for Agricultural Development (IFAD)

• IFAD is an international financial institution and specialized United Nations agency working in the field of poverty eradication in the rural areas of developing countries providing grants and loans with low interest for allied projects.
• It works with marginalized and vulnerable groups such as farmers with small holdings, foresters, Pastoralists, Fishermen and small scale entrepreneurs by giving them disaster preparedness, access to weather information, technology transfer and social learning.
• It was created in 1977, which is the outcome of the World Food Conference of 1974.
• Headquarters–Rome, Italy
• It has 177 member countries including India.
• Objectives:
  • To increase the productive capacity of poor people.
  • To increase benefits for them from market participation.
  • To strengthen the environmental sustainability & climate resilience of their economic activities.
• Reports–Rural Development Report every year.

Lifestyle for the Environment (LiFE) Movement:

• The campaign was launched with a “call for papers”, inviting ideas and suggestions from academics, universities, and research institutes for promoting an environmentally conscious lifestyle.
• The idea of LiFE was introduced by the Prime Minister during the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow last year.
•  It aims to persuade individuals across the world to undertake simple climate-friendly actions in their daily lives or adoption of environment-conscious lifestyle
• The Mission plans to create and nurture a global network of individuals, namely ‘Pro-Planet People’ (P3)
  •  P3 will have a shared commitment to adopt and promote environmentally friendly lifestyles.