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Climate finance—funding from private or public sources to pay for adaptation and mitigation measures—is therefore crucial for combating the climate crisis. Access to such funding will help developing countries transition to clean energy and invest in reducing climate risks. Climate finance is needed for mitigation, because large-scale investments are required to significantly reduce emissions. Climate finance is equally important for adaptation, as significant financial resources are needed to adapt to the adverse effects and reduce the impacts of a changing climate.
Explanation:
