Kishore Dhavala
Climate change is widely regarded as the greatest market failure in modern economic history, reflecting the inability of markets to account for the environmental and social costs of greenhouse gas emissions (Stern 2008).Addressing the challenges of climate change requires not only technological and regulatory reforms but also a restructuring of investment priorities and financial flows, redirecting capital from carbonintensive development pathways towards mitigation, adaptation, resilience, and sustainable development.In addition, concerns about equity and the role of existing financial mechanisms in realizing a just and effective climate transition are equally