Climate funds are investment portfolios that seek to buy the equities or bonds of companies that are aligned with the goals of the Paris Agreement. They can also target the sovereign bonds of governments that are cutting greenhouse gas emissions, thereby reducing their contribution to global warming. The core aim of the Paris Agreement is to limit global warming to a maximum of 2 degrees Celsius above pre-industrial levels, and ideally to limit it to 1.5 degrees or less. This means making the world carbon neutral by 2050 at the latest. Subsequently, climate funds are targeting those companies (and governments) that are decarbonizing at a rate sufficient to meet these targets. Reducing their GHG Emissions. The largest Climate Funds include the Climate Investment Funds, the Green Climate Fund, the Adaptation Fund, and the Global Environmental Facility.