The essence and content of climate financing

Introduction. The present day is characterized by the destructive consequences of climate change, such as rising temperatures, prolonged droughts, melting glaciers, sea-level rise, catastrophic floods, extreme weather events, and emergencies; biodiversity loss; increasing forest fire risks; declining land productivity; crop failures; reduced eco-friendliness of agricultural products; degradation of fish stocks; increased morbidity and mortality; limited tourism; migration, and humanitarian issues such as loss of property and livelihoods. It can be stated that there is a triple planetary crisis: climate change, biodiversity loss, and environmental pollution. Consequently, the global community's agenda includes counteracting these negative consequences for humanity – not only minimizing the negative impact but also restoring ecosystems. Problem Statement. Achieving these goals is impossible without proper financial support, which is feasible primarily through a clear understanding of the essence, content, and functions of climate financing, identifying its directions and types, and developing a conceptual model for climate financing. Objective. To define the essence and content of climate financing. Methods. A systematic approach, monographic and historical methods, methods of generalization, comparative and expert analysis were used. Results. Approaches to interpreting climate financing have been clarified, its significance, essence, and content have been identified. The authors present definitions of the terms «climate finance» and «climate financing», a classification of its types, and directions of climate financing. Conclusions. Taking into account such components of climate financing as funding for public climate, environmental, industrial, and energy policies that promote the implementation of projects for prevention / mitigation / adaptation to climate change / restoration / transformation; financing public / private / mixed climate investments; and elements of the financial system related to climate finance will enable the effectiveness of measures in combating the negative consequences of climate change.