As 2022 reached its final quarter, the international community renewed their commitments to climate change mitigation and adaptation. Nation-states reaffirmed their pledges to contain global warming. New initiatives and projects have been established to support countries and communities vulnerable to climate damage. Meanwhile, the private sector has also expanded their contribution to climate across a variety of sectors and regions. While some see these developments as a sign for more progress to come, others are concerned that global commitments and actions remain insufficient, and that the private sector’s increasing role in climate actions invoke a new type of transparency and accountability concerns.

This BCCC Quarterly’s Theme of the Quarter, Global Uptick in Commitments to Climate, aims to capture the recent developments in climate pledges and actions, covering national pledges to reduce carbon emissions, climate support to the Global South, private sector activities as well as third-party reactions and analyses. The section concludes with a commentary on the world’s climate financing gap that persists despite recent commitments and actions, as well as the implications of new proposals to address the gap.