COP21 sparks several initiatives aimed at addressing climate change

Among others, President Barack Obama has pledged new money to the least developed countries fund.

FILE: Conference attendees sit in a conference room on the opening day of the COP 21 United Nations conference on climate change. Picture: AFP.

PARIS - As the COP21 Climate Talks enter their second day in Paris, analysts are hoping that the bewildering array of initiatives being announced on the sidelines of the negotiations will provide momentum for a global climate deal.

More than 40,000 delegates are in the French capital tussling over the details of a draft agreement that will include all countries in the fight against climate change.

These are perhaps the most important climate negotiations the world has ever seen.

And to make sure they get off to a strong start, various leaders brought incentives to the party.

United States President Barack Obama has pledged new money to the least developed countries fund, which will be spent on risk insurance initiatives, helping people rebuild after climate disasters.

Several European countries have done the same, together amounting to some $248 million.

India has announced a global solar alliance of 121 countries giving $62 million over the next five years, to help provide power to people living off the grid.

Twenty-eight of the world's richest investors have vowed to give $2 billion in seed funding for clean energy.

At these talks, where cash for poor countries is expected to be a sticking point, it's all welcome.

But whether the goodwill continues in the negotiating room is yet to be seen.