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, email@example.com
Lucile Dufour, Réseau Action Climat France, firstname.lastname@example.org
Eddy Pérez, Climate Action Network Canada, email@example.com
The past year was tremendous for climate action. The Paris Agreement entered into force on Friday. HFCs are finally on their way out., The international shipping and aviation industries have started to reduce their emissions. With this success echoing through the COP halls, there couldn’t be a better time for a pep rally for COP22.
Loss and damage (L&D) has earned its place in the climate change playbook, alongside adaptation and mitigation. With its own stand-alone article (8!), as well as a commitment that there will be international support for loss and damage, COP22 can boldly go where no COP has gone before.
After much anticipation, a few weeks ago the long-awaited “Roadmap to US$100 billion” was finally released by 21 developed countries. The plain white cover of the report led ECO to hope the report’s authors were saving money on design to meet their commitments made back in Copenhagen and Cancun!
The countdown to COP22 will intensify at the Ministers meeting on 17 October intended to clarify key issues before the conference. The incoming Moroccan presidency and outgoing French presidency have prepared a handy Q&A for Ministers to come prepared to the meeting. ECO has answered the most relevant questions for you exclusively in this issue of ECO.
Mobilisation of means of implementation
1) What to expect for the roadmap towards the USD 100 billion?
As nations consider whether to introduce a new, improved technology framework in advance of COP22, ECO has a plaintive question for delegates: Is this the year when you plan to show us the money?
August may be a month of vacation of many, but ECO is thrilled that developed countries are spending these months working on their roadmap, instead of their tans. It’s great that Parties want to show how they will fulfil their $100-billion-a-year-from-2020 promise.
~CAN welcomes the opportunity to present its views on the modalities for the accounting of
financial resources provided and mobilized through public interventions in accordance with
Article 9, paragraph 7, of the Paris Agreement in this submission.
In December 2015, the G20, as part of the 196 Parties to the UNFCCC, committed to a historic global agreement to address climate change and pursue efforts to limit the global temperature increase to 1.5°C above preindustrial levels, so as to mitigate the harmful effects on the world’s people, biodiversity and the global environment.