Greenpeace: UN climate finance report wipes out developed country excuses to delay action

New York – 4 November 2010—Responding to the publication of the report of the UN Secretary General’s High Level Advisory Group on Climate Change Finance (AGF), Steve Herz of Greenpeace International said: “Developed countries now have no excuse to delay meeting their promise to raise $100bn a year by 2020 to support climate action in the developing world.

“It is now clear that it is both technically feasible and politically possible for governments to raise substantial amounts of public money for climate action from new mechanisms, such as pricing emissions from international air travel and shipping.”

“In fact, developed countries can meet their Copenhagen commitments without raiding existing aid programs, and without counting the face value of loans or private sector investments, rather than their grant component.”

Unless developed country Governments keep their promise to provide long-term finance, a global agreement on climate action would be nearly impossible to reach.

“It is now time for developed country governments to come up with a clear workplan and timeline for implementing a suite of sources of finance that can meet the long-term need,” added Herz.

 The AGF has shown that significant new public resources can be mobilised through mechanisms such as

-       auctioning emissions allowances in developed countries,

-       pricing emissions from international shipping and aviation, and

-       eliminating developed country subsidies to fossil fuels and using these resources to support climate action.

Greenpeace is calling on Governments gathering at the upcoming climate talks in Cancun, Mexico, to make clear progress on outlining how decisions on innovative sources of funding will be taken and to build upon their Copenhagen commitments by agreeing that they will provide at least $100bn in public finance that is new and additional to existing aid targets, as a significant milestone towards achieving the public funding that is actually needed. .

For information/interviews

Steve Herz, Greenpeace International (based in San Francisco):  +1 510-338-123

Wendel Trio, Greenpeace International Climate Policy Director (in Belgium) +32 473 17 08 87

Szabina Mozes, Greenpeace International Communications (Amsterdam): +31 646 162 023

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WWF: Climate money can be generated, political will needs to come from Cancun

New York, USA:  A high level analysis of climate finance submitted to the UN today has demonstrated the feasibility of putting up by 2020 US$100 billion a year in public funding to fight climate change.

According to WWF, this conservative analysis by the special High-level Advisory Group on Climate Change Finance (AGF) sets the stage for a finance agreement to come out of the UN climate summit starting late this month in Cancun, Mexico.

“The Secretary General’s high level group has come up with the financial mechanisms, now we look to governments to come up with the political mechanisms to get the finance actually flowing,” said Gordon Shepherd, leader of WWF’s Global Climate Initiative.

Financing, agreed in principle under the Copenhagen Accord from the last UN climate summit, is needed to support action in developing countries to halt the destruction of tropical forests, speed the transition away from high-emission models of development, and to help vulnerable countries adapt to climate change impacts.

 “These public funds are critical to speed up the development and implementation of new technologies, as well as for adaptation and resilience building, new energy efficient infrastructure, and for construction. It will also be used to leverage private sector finance which will contribute much of the investments needed in clean energy technologies,” said Shepherd.

“Our experience is that public investment and initiatives play key roles in mobilising and directing private investment.”

The AGF report gives strong support for financing from carbon pricing mechanisms, with one of the most promising sectors being international aviation and maritime transport, whose emissions are as yet unregulated. “We expect decisive action in Cancun to put this finance source on a fast track to implementation”, said Shepherd.

Other promising sources were downplayed because of opposition from some individual group members, with the chief casualty being the financial transaction tax (FTT).

““Financial transaction taxes have been successfully implemented in more than a dozen countries and at this point we should be examining all potential sources of finance on their merits”, said Shepherd.

Although the assumptions used by the AGF to assess the scale of potential financing generated are extremely conservative, and some members placed undue emphasis on private sector investments in meeting the $100 billion per year financing milestone, the report provides a useful starting point for moving forward.

Parties in Cancun can build upon the AGF recommendation on the way to establishing a much needed new UN Climate Fund and could contribute to host country Mexico’s wish for progress on all elements of a “balanced” Cancun package.

The AGF was set up by United Nations Secretary-General Ban Ki-moon in February, Co-chaired by Prime Minister Stoltenberg from Norway, and Prime Minister Zenawi from Ethiopia, to explore innovative financing sources and mobilize the financing promised for climate change during the United Nations Climate Change Conference in Copenhagen last December. 

For any further information and interviews contact:

Gordon Shepherd,Leader WWF Global Climate Initiative, gshepherd@wwfint.org, Ph: +41 794567959

(On European time-zone)

Mark Lutes, Finance Policy Coordinator, WWF Global Climate Initiative, mark.lutes@wwf.panda.org, Ph: +1 416 484-7723; mobile: +1 416 473-5919;(On Toronto, Canadian time-zone)

Ashwini Prabha, Communications Manager, WWF Global Climate Initiative, aprabha@wwfint.org, +41 798741682

 

More information on financing for climate change and AGF: www.panda.org/climatefinance

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Building Blocks for a Cancún Package: Presentation by CAN International

Media Advisory
October 6, 2010
Building Blocks for a Cancún Package
Presentation by CAN International
 
[Tianjin, China] CAN International will propose and detail a package of achievable
and fair decisions for countries to adopt at the upcoming UNFCCC talks in Cancún,
Mexico, on Wednesday, October 6, 18:00 – 19:30, in room Yinchuan, Meijing
Conference Centre, Tianjin, China.
 
Parties to the talks currently underway in Tianjin, China, are increasingly calling
for adoption of a “balanced package” in Cancún.  The Building Blocks proposal
by CAN International details the components that could plug into such a feasible
yet fair package, one that would provide the foundation for final deal a year later
in South Africa.  The Cancún Building Blocks proposal also provides a yardstick
for measuring the fairness and environmental integrity of any deal reached in
Cancún.
 
The presentation will include formal response by respondents from several
country delegations.
 
CAN panel:
 
• David Turnbull, CAN-International
 
• Wendel Trio, Greenpeace International
 
• Sandra Guzman, Centro Mexicano de Derecho Ambiental (CEMDA)
 
• Raju Pandit Chhetri, United Mission to Nepal (UMN)
 
• Niranjali Amerasinghe, Center for International Environmental Law (CIEL)  
 
What: Presentation of a fair, balanced and achievable package for Cancún  
 
Where: Room Yinchuan, Meijing Conference Centre, Tianjin
 
When: 18:00 – 19:30, Wednesday, Oct. 6
 
Who: CAN International representatives and respondents from country delegations
 
Climate Action Network (CAN) is a global network of over 500 non-governmental
organizations working to limit climate change to sustainable levels.  For more
information go to: www.climatenetwork.org.
 
Contact:  Hunter Cutting: +1 415-420-7498
 
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