Explanation: The “Partnership for Action on Climate Transition (PACT)” program is an initiative aimed at mobilizing financial institutions and fostering collaboration between the private sector and governments to develop ambitious climate action plans, particularly aligned with the 1.5°C target of the Paris Agreement, by supporting the creation of robust transition plans that contribute to Nationally Determined Contributions (NDCs) – essentially countries’ climate action pledges; often spearheaded by organizations like the UNDP’s Financial Centres for Sustainability (FC4S) network.

Source: FORUMIAS