Climate Finance

Most things we look to do better in life require patience and practice, and becoming better with your finances is no different. Accountants in London suggest that good money habits build up over time and will eventually lead to a bigger bank account and a more stable retirement. They have compiled five essential tips that will help you reexamine how you think about and handle money on a daily basis.

It is important to be mindful about your spending habits. Too many people do the exact opposite and are quite careless in their spending and saving habits. All that is required is for an individual to pay more attention to how they are spending their money and stop buying items impulsively. When you consider each purchase carefully, you will begin to buy only what you need and can afford. Ways of being more mindful of your spending habits include making a daily or monthly budget, using lists at the store, and only buying items when you can truly afford them.

Always be mindful of all your financial transactions either in retail shops or online. It is essential that you are vigilant about each transaction no matter how small it may be. While clerks use sophisticated computerized registers, mistakes are still made when ringing items up and handing back change. Always watch the price that is rung up while standing in line. If there is no easy to read display, scan the receipt while still in the parking lot for mistakes. Likewise, always look over your bank statements for odd charges or fees. It is best practice to check your bank statements to watch for fraud or unauthorized use of your accounts.

While it may sound corny, it is always wise to respect the currency in your hand. When money is mistreated, you diminish the value of it and are saying it is fine to abuse it. Whether you have one single dollar or a hundred dollar bill, treat them equally. Do not wad your money up in your pocket or toss it in your purse like trash. Instead, place it in a wallet and take care of it and know how much you have daily. Take all of your change from your pockets and purse and place it in a jar at home. At the end of the month deposit it in the bank. You will be rather surprised how much will be in that jar by month's end.

Only use credit cards if it is absolutely necessary or they are needed for a reservation or online charge. It is better to use your debit card for all of your purchases and keep the credit cards hidden from view. If you have a credit card that has good rewards use it for all of your purchases. Be certain though to pay off the entire balance at the end of the year. Be wary of card that come with high-interest rates and annual fees even without a balance. It is best to have a credit card but leave it at home, only to be used for for certain events.

Look at how you are spending your money on a monthly basis. Many people tend to sabotage themselves when trying to make the best decisions on how to save money and invest. Many people tend to get bad habits from their parents, culture, or just a lack of self-control. In order to bypass this in life, you have to take note of where you are spending your money. For some it is dining out, buying clothes, or going on vacations. Once you find out what your weakness is in life you can make changes in your spending habits and find a more financially sound spot.

Each one of these tips can be used to build a better and more financially sound future for you and your family. To start implementing these and many other strategies consult with accountants in London. Their experience will help you to identify the strategies you need to save and invest money for your future. Find a professional who you will be able to trust with your financial situation.

construction loan broker

Consumers become prepared better for buying a home when they start with their finances. It is their finances that have the largest impact on their ability to buy. This could help them qualify for a construction loan quickly and without great difficulties. A lender could assist them by presenting them with an early assessment.

An Early Assessment

When building a house, the first obstacle is to achieve the best credit score possible. This may require the consumer to pay off outstanding debts. They should review their credit history and start with negative accounts. It is these listings that could prevent their credit score from increasing. It could also present them with issues when selecting a home mortgage.

They should also consider negotiating with their creditors. This could help them achieve a settlement offer. This is a reduction of the total debt. In some instances, they could acquire up to a fifty percent discount on accounts that are placed in collections or charged off.

Contacting a Lender

A lender can help the consumer by showing them what mortgage loan products are available to them. The lender shows them what the down payment requirements are for each mortgage. They could also present them with a pre-qualification that will help them identify a budget for their new home construction.

Finding Properties Within the Designated Budget

The consumer should work closely with a real estate agent to identify properties within their budget. The agents have access to properties that are completed as well as empty lots inside planned communities. The agent could evaluate the budget set up by the lender and determine what properties are most affordable for the consumer. This could also include opportunities for remodeling loans.

Reviewing Closing Requirements

The closing requires the consumer to present all insurance policies needed for the property. The sales contract identifies what party is responsible for the closing costs. The closing is a meeting in which total mortgage value is given to the seller. An attorney manages the transfer of title for the new buyer. If the property is a new construction, the seller is either a builder or real estate firm.

Early assessments of their finances help consumers make sound decisions about buying a home. This could include new constructions and renovation possibilities for existing properties. A lender helps these consumers identify what mortgage is most affordable for them. Consumers who are ready to start this process for mortgage or home improvement loans should contact a lender now.

The spiritual grandchild of the Rio Earth Summit agreement of 23 years ago, the universal climate agreement (UCA), is the world's best chance to limit global temperature increase to two degrees Celsius. The universal hope is that it will be adopted at the global climate change summit in Paris, France, in December 2015. The UCA is important because it will record different countries’ commitments to reduce their carbon dioxide emissions, and, this time around, developing countries, too, will make commitments to reduce their emissions—and they are looking for how to fund the actions they will need to take.

How much money is needed by developing countries? Estimates are around US$ 450 billion per year from 2020 on: US$ 350 billion for reduced emissions and US$ 100 billion for adapting to the impacts of climate change. Some of this money will be provided by countries themselves. But to reach their emission reduction targets, a significant fraction will also need to come from developed countries in the form of official climate finance (OCF). These numbers may sound overwhelming, but context is paramount—they should be compared to net inflows of debt and equity into developing countries, which are estimated to be above US$ 1.2 trillion per year.

At the 2010 Climate Change Conference in Cancun, Mexico, the global community responded to developing countries’ financing needs by creating the Green Climate Fund (GCF). The GCF groups 196 sovereign states that are Parties to the United Nations Framework Convention on Climate Change (UNFCCC), and is the only multilateral financing institution in the world whose sole mission is to serve the UNFCCC’s climate objective. Its purpose is to promote a radical paradigm shift towards low emission and climate-resilient investments in developing countries.

How is the GCF expected to do this? By providing developing countries with direct financing for climate investments and by leveraging other financing, including private investors and financial markets. Funding will be concessional, and one of the GCF's greatest innovations is its risk-bearing capacity, allowing it to bear more risk and thus leverage other less risky financing, notably from the private sector.

A lot of work has been done since the GCF’s inauguration in Songdo, in the Republic of Korea, in December 2013, where it is headquartered. It is now open for business and has a growing network of more than 120 developing country focal points engaged with the Fund. Developing countries are central in the funding process and the GCF’s own Board is structured to ensure a balanced representation from developed and developing countries—a 50:50 ratio.

In the year since its launch, the GCF has already secured US$ 10 billion equivalent in financial pledges from 33 countries, including from developing countries. It continues to raise money on an ongoing basis. A significant portion of its pledges have already been converted into usable resources, and the Fund is ready to start investing in climate-sensitive projects and programmes.

How will the GCF operate? Through a network of accredited partners, trusted entities that will work on its behalf during the project cycle. These may include local institutions in the countries themselves, regional entities, private banks and funds, nongovernmental organizations and international organizations. The GCF’s accredited partners will deploy its resources through a variety of financial instruments (concessional loans, subordinated debt, equity, guarantees and grants) and monitor project impacts. The process to build the network of partner entities is ongoing, with applications received from all over the world, and some institutions already accredited.

To accelerate private sector investment in low-emission, climate-resilient activities, the GCF’s Private Sector Facility will work hand in hand with international businesses, capital markets and the local private sector in developing countries. Its risk-bearing capacity will enable the Fund to support private investments in, for example, energy efficiency, forest protection and reforestation, deployment of climate-related insurance products, adaptive agricultural methods in the face of desertification and other similar projects.

At the Paris Climate Change Summit later this year, the world expects member States to take some important decisions concerning climate finance. Total OCF commitments to date are a good start but only a fraction of what is needed to achieve the world’s climate change objective. In order to succeed, countries must agree to set in place predictable, long-term flows of OCF up to and beyond 2020, including quantities significantly larger than the initial pledges made to the GCF to date. The line of argument for increasing investments is simple—either we pay now or pay later and face the risk of significant development setbacks for all of humanity.

See more at: http://www.dailydevelopment.org/blog/climate-finance-investing-our-collective-future