OUTLOOK FOR THE FUTURE

The year 2015 has been commendable regarding world’s actions towards environmental protection and climate change. We see the world agree to a common framework on climate change and a set of SDGs in a single year was indeed a monumental achievement. In this regard, there will two important challenges11 in front of the world—

(i) Mobilization of the funds needed for realizing the bold targets envisaged under both; and

(ii) Need of a clear action plan for implementation.

Budgetary sources of the countries (especially, in case of the developing countries) will not be sufficient enough for the successful implementation of the Paris Agreement, the SDGs and the ambitious targets set out in the INDCs. Looking at the size of funds which will be needed to realise these goals, the experts have advised to mobilise all channels in this regard—

private finance, public finance—both national and international.