Which one of the following statements best describes the term ‘Climate Finance’?
1
It is money paid by United Nations Framework Convention on Climate Change (UNFCCC) to developing countries to combat climate change.
2
It is money paid by developed countries to United Nations Framework Convention on Climate Change (UNFCCC) to adopt decarbonizing measures in developing countries.
3
It is money paid by developed countries to developing countries to help them pay for emissions reduction measures and adaptation.
4
It is money paid by developing countries to developed countries to enable the transfer of technology and expertise to combat climate change.