UN: '$1 trillion needed to fight climate change'

The world needs $1 trillion to fight against the adverse effects of climate change, UN Special Envoy on Financing 2030 Sustainable Development Mahmoud Mohieldin said at COP-27, Report informs.

The UN envoy added that the $100 billion previously estimated for these purposes represents only 10% of the needs of developing countries.

He noted that climate change mitigation, adaptation to change and loss compensation initiatives have been put forward.

The UN Climate Conference started on November 6 in Sharm el-Sheikh, Egypt, and will continue until November 18.