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:
Lucile Dufour, Réseau Action Climat France, lucile.dufour@reseauactionclimat.org
Eddy Pérez, Climate Action Network Canada, eddy@climateactionnetwork.ca

Getting to the Core of Article 6

ECO is worried that the lengthy conversations about future contributors to climate finance may be helping developed countries avoid provisions today for more adequate and predictable support. Because, with time running out, ECO is fearful that Article 6 may be reduced to little more than a compromise on differentiation, a bit on ex-ante information (the draft para on this, let’s face it, is just re-hashing stuff from previous COP decisions), language on ex-post transparency, and perhaps a reference to the global stocktake.

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Cycling Together

ECO has no doubt that parties came to Paris with the best of intentions, and are keen to make sure we stay below 2°C. The party spoiler is that we’ve been warned that we are on a more-than-3°C track. And ECO knows that even 2°C is too much. How can we increase the stakes to avoid settling for a 3°C world? ECO believes that many Parties, especially developing countries, can and are willing to go further than their current INDCs. But many will need extra support to do that.

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Worrying Gives Us Wrinkles. Give Us Money Instead. 

The anticipation of what leaders would or would not announce on climate finance had our hearts pounding. Yesterday calmed some of those nerves. Hot on the heels of Canada’s pledge, other countries joined the party, making commitments to the Least Developed Country Fund. Norway, Sweden and Spain also increased their climate finance commitments.

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Le Tour du COP

Bonjour and welcome to the 21st edition of Le Tour du COP!
Participants in Paris have two weeks to show the world what they’re made of. ECO welcomes the ADP’s early start and expects governments to treat COP21 as a turning point, where they agree to a transformation that is much faster;  just; and has the needs of the most vulnerable at its core.
~ECO’s ultimate guide for winning the race~
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Spirit of the $100 Billion Haunts Donors

Earlier this month contributors showed us what a US$100 billion commitment looks like. The OECD/CPI report revealed that the commitment consists mostly of loans and private finance. In 2013, the contributions consisted of more than $20b in loans, almost $20b in private finance, equity and guarantees, and a mere $13b in grants. These numbers don’t quite add up and ECO feels that the “$100 billion” is desperately lacking the spirit of the 2009 promise—to provide new and additional money to help meet the needs of developing countries.

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