CLIMATE & ELDERLY CARE

Established in 1945, the Economic and Financial Committee stands strong as one of the 5 major pillars of the United Nations General Assembly. It is the committee responsible for the promotion of economic growth and proposes ideas to combat complex issues like inflation, economic growth and development, along with other components of global macroeconomic policy. Delegates will participate in a simulation of the 80th session of ECOFIN, with 2 primary topics that need to be addressed. First, the contentious issue of climate financing. As climate change begins to ravage several nations, with economic impacts starting to show, many developing countries have called for support financially to mitigate these effects. Given the failure of COP 29 negotiations, delegates must re-evaluate climate financing models and navigate multifold constraints. Further, in the Asia-Pacific, demographic issues have begun to pile up and cause great harm to the economies of many nations. Elderly care costs are expected to rise exponentially, as more and more nations' birthrates go down. Delegates need to consider proper financing models for Long Term Care facilities, and how to improve elderly care for the future, in preparation for the demographic storm that is to come.