To close the climate finance gap, let vulnerable nations use carbon markets

Nothing brings home the urgency of climate change more than living 1.5 metres (5ft) above the rising seas as my country, the Maldives, does.

But to cope with climate change, developing countries – like the Maldives and others in the 74-nation Climate Vulnerable Forum – need money.

The most vulnerable nations need an estimated $490bn a year by 2030 to fund their climate strategies, including mitigation, adaptation and the cost of loss and damage. And yet, the provision of climate finance from major emitters remains woefully inadequate.

It is an indictment of an outdated global financial architecture that turns a blind eye to those on the climate front lines. What good is a global financial system if it denies the world’s most vulnerable the opportunity to build resilience against climate