Finance Working Group

Many developing countries lack the resources to properly address the profound challenges of climate change. For this reason, developed countries have long promised to provide support to help developing countries limit their emissions and adapt to the impacts of climate change. Yet for the most part, the assistance that has been provided to date has been inadequate to meet the challenge. The CAN Finance Group coordinates advocacy and policy work around the need to rapidly scale up support for climate action from developed countries directly, and through new, innovative sources of finance. The group’s main focus is to ensure that sufficient support is available for developing countries to reduce their emissions as required to stay below 2 degrees/1.5 degree temperature rise, and to help countries adapt to climate effects that are already inevitable. Towards this end, the group works to strengthen financial commitments within the UNFCCC and other venues, and to ensure that the Green Climate Fund is an effective and appropriately funded vehicle for delivering climate support to developing countries.

For more information please contact:
Kashmala Kakakhel, WEDO, kashmalakakakhel@gmail.com
Lucile Dufour, Réseau Action Climat France, lucile.dufour@reseauactionclimat.org
Eddy Pérez, Climate Action Network Canada, eddy@climateactionnetwork.ca

Ministers Wanted

The Facilitative Dialogue on ambition and support will be held on Wednesday at 10am. ECO knows this should be obvious to all, but we would like to emphasise that the whole point of a high level “ministerial deliberations” is the presence of Ministers. This is particularly important when the topic is how to muster the political will needed to significantly ramp up Parties’ ambition and support!

Related Newsletter : 

Capacity Building Takes Off

ECO welcomes the capacity building decisions adopted yesterday.

Given the increased expectations that have been placed on developing countries by the Paris Agreement, capacity building—as well as other means of implementation—will be crucial to enable these Parties to successfully implement their commitments. This is especially true for those Parties with the least capacity, and for those most vulnerable to climate impacts.

Related Newsletter : 

“Loss and Damage” from Concept to Action

ECO was thrilled to be able to participate in the informal session of the loss and damage discussion beyond the first contact group. But this excitement was watered down when a Party proposed to delete the paragraph that allowed relevant organisations to express their views and provide input on the possible activities in the work stream of the Warsaw International Mechanism for Loss and Damage (WIM), before the first meeting of the Executive Committee in 2017.

Related Newsletter : 

Next Steps to Get to $100 Billion

Finally, the juicy discussion on long-term finance under COP agenda item 10a is getting off the ground. It’s not surprising that virtually every developed country that spoke yesterday celebrated their roadmap towards the $100-billion-a-year promise. And of course they highlighted their projection that public adaptation finance may double by 2020. Maybe developed countries even think they are off the hook when looking at those projections. Yet, with a closer look, a few additional things come to mind that may require COP action.

Related Newsletter : 
Topics: 

America

Donald Trump’s election as the next U.S. president was a [unexpected][climatic][shocking] ending to a turbulent campaign that tapped into the anxiety felt by many American voters over globalisation, immigration, stagnating incomes and shrinking economic opportunities. The election revealed a deeply divided electorate: while Hillary Clinton received the most votes nationally, overwhelmingly won the youth, women and people of colour, Donald Trump won in enough states to prevail in the electoral college, thereby securing the presidency.

Related Newsletter : 

Addressing the (Im)balance

It’s impossible not to notice that developed countries are very pleased with themselves for publishing their “Roadmap to the US$100 billion” this past October. This is even more apparent from yesterday’s joint statement on the roadmap.

ECO too is pleased to have the roadmap, don’t get us wrong. It enhances transparency on how developed countries plan to reach the collective target of US$100 billion per year by 2020. But ECO also expects further progress on patchy areas where more clarity is needed: mobilised private finance is one example that comes to mind.

Related Newsletter : 
Topics: 

That is Not the Question

Do delegates remember when the Adaptation Fund was created in Marrakech back in 2001? Do you know much about the Fund at all? ECO thinks perhaps not, at least if judged from what various Parties said at the informal APA meeting. They claimed they did not know enough about the Fund and thus would need much more time before taking a decision on whether the Fund should continue its work under the Paris Agreement.

Related Newsletter : 

First Rule of Holes: When You’re in One, Stop Digging

Now that the Paris Agreement has been signed by 193 parties and ratified by over 100, one message is very clear: the era of fossil fuels is over. But it seems that not everyone has gotten the message. In many countries, the coal lobby stubbornly believes it can delay the inevitable.

Related Newsletter : 

Four Conclusions on BA2016

 Now that the Standing Committee on Climate Finance (SCF) has presented its 2016 Biennial Assessment (BA2016) of climate finance, the report’s key findings and recommendations are meant to guide negotiators through the next two weeks’ worth of climate finance agenda items. ECO finds four items to be particularly noteworthy:

Related Newsletter : 
Topics: 

Year of the Turkey

Everyone loves a good COP — so much so that even though delegates are roaming around a half-finished conference centre. And although we don’t know where the 2017, 2018 or 2019 COPs will be hosted, we do know one thing: 2020 could be Year of the Turkey.

Related Newsletter : 

Pages