Since it was set up in 1992, the United Nations Framework Convention on Climate Change has focused mainly on mitigation. Mitigating the effects of climate change is all about transitioning away from fossil fuels to renewable energy, improving energy efficiency and setting up new forests to absorb greenhouse gas emissions.
But this hasn’t worked; greenhouse gas emissions have continued to rise. The impacts of climate change, such as drought and floods, are escalating in frequency and more intensity. The financial costs of paying for the damage caused by extreme weather events are cascading out of control.
