Tag: Finance

Fossil bounty for backtracking Canada and New Zealand

 

The First Place Fossil is awarded to Canada, who has capped support rather than emissions. Newsflash! This just in from the Canadian Environment Minister! Developing countries need to just take a deep breath and wait until we have an all-in global deal before they should expect any support from Canada to move towards a clean energy future through the Green Climate Fund. In talking to reporters yesterday, Canada’s environment minister took a moment to tell journalists that he would ‘make it clear’ at the meetings in Doha that developing countries shouldn’t expect more money towards climate financing from Canada, because after all, Doha “isn’t a pledging conference.”
 
Thanks for clearing that up, Minister! We are sure that that will do wonders for your stellar credibility and reputation at these talks. Thankfully the Minister IS coming to Doha with at least one commitment: Canada is still firmly committed that tar sands emissions will rise far beyond the 2 degree climate limit.
 
World to Canada: You are supposed to be ramping finance up and emissions down; not the other way around!”

The Second Place Fossil of the Day goes to New Zealand, again, because not only did Wellington deliberately decide not to put its target into the second commitment period of the Kyoto Protocol, but today proposed that access to the CDM should be open to all and should not depend on whether a country is signing up to a second commitment period. To make it clear, New Zealand pointed out that otherwise the Adaptation Fund will not have enough money to keep functioning. Come on Kiwis, forget about the hobbits and think about your neighbors! You have to be serious… if you want to feast on carbon markets you have to work up your targets first!

The United States gets the Third Place Fossil for once again rejecting strong measures to reduce greenhouse gas emissions. Yesterday President Obama signed a misguided Bill coming from Congress aimed at preventing compliance of US airlines with EU regulations, for flights into and out of the EU. If Congress doesn't like the EU approach, we hope they realize the only alternative is a strong multilateral agreement. We urge Obama to reject any approach based on isolationism, and take this bill as an green light to pursue a strong multilateral agreement for the global  aviation sector, including putting a price on carbon, and to lead the way a strong and binding global climate agreement under the UNFCCC.

 

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Fossil bounty for backtracking Canada and New Zealand

The First Place Fossil is awarded to Canada, who has capped support rather than emissions. Newsflash! This just in from the Canadian Environment Minister! Developing countries need to just take a deep breath and wait until we have an all-in global deal before they should expect any support from Canada to move towards a clean energy future through the Green Climate Fund. In talking to reporters yesterday, Canada’s environment minister took a moment to tell journalists that he would ‘make it clear’ at the meetings in Doha that developing countries shouldn’t expect more money towards climate financing from Canada, because after all, Doha “isn’t a pledging conference.”
 
Thanks for clearing that up, Minister! We are sure that that will do wonders for your stellar credibility and reputation at these talks. Thankfully the Minister IS coming to Doha with at least one commitment: Canada is still firmly committed that tar sands emissions will rise far beyond the 2 degree climate limit.
 
World to Canada: You are supposed to be ramping finance up and emissions down; not the other way around!”

The Second Place Fossil of the Day goes to New Zealand, again, because not only did Wellington deliberately decide not to put its target into the second commitment period of the Kyoto Protocol, but today proposed that access to the CDM should be open to all and should not depend on whether a country is signing up to a second commitment period. To make it clear, New Zealand pointed out that otherwise the Adaptation Fund will not have enough money to keep functioning. Come on Kiwis, forget about the hobbits and think about your neighbors! You have to be serious… if you want to feast on carbon markets you have to work up your targets first!

The United States gets the Third Place Fossil for once again rejecting strong measures to reduce greenhouse gas emissions. Yesterday President Obama signed a misguided Bill coming from Congress aimed at preventing compliance of US airlines with EU regulations, for flights into and out of the EU. If Congress doesn't like the EU approach, we hope they realize the only alternative is a strong multilateral agreement. We urge Obama to reject any approach based on isolationism, and take this bill as an green light to pursue a strong multilateral agreement for the global  aviation sector, including putting a price on carbon, and to lead the way a strong and binding global climate agreement under the UNFCCC.

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CAN Intervention in the COP18 LCA Opening Plenary, 27 November, 2012

 

LCA Opening Plenary Intervention 

COP18, Doha

27 November, 2012


Photo Credit: IISD

Thank you Chairs. 

My name is Ben Namakin and I am from Kiribati speaking for CAN.

It is crucial that the LCA conclude here in Doha, however there is work to be done to ensure a meaningful outcome. 

Equity is a key component of the 2015 Protocol and needs to be in the discussion.

A new market mechanism and framework for various approaches must be based on international standards that guarantee real, permanent, additional and verified emission reductions, secure global net atmospheric benefits and avoid double-counting.

However, market mechanisms are useless without increased ambition. It is imperative that all developed countries:
-          Increase their 2020 pledges substantially
-          Express their 2020 targets as carbon budgets; and
-          agree on common accounting rules. 

Last year saw numerous climate related disasters. Climate finance for the 2013-2015 period needs to at least double that of Fast Start with a roadmap for scaling up to at least $100 billion per year by 2020.  It is crucial the outcome in Doha guarantees a high level political space for negotiations on finance to continue.  

One area that does not need further work is the scope of the review of the temperature goal, however Parties must decide on a strong body to conduct that review. 

Thank you. 

 

NGO experts to brief on key developments at COP18


 

 

 

 

Media Advisory – Webcast Notice

[Doha – Qatar] – November 27, 2012 –  International experts from NGOs organized in the Climate Action Network (CAN) - a network of more than 700 organisations from over 90 countries – will brief the media on the latest developments in the climate negotiations at Doha, Qatar, tomorrow.

Experts will detail Poland's unique role in blocking climate action in Europe and the importance of rich countries putting money in the bank here at Doha as part of an adequate climate finance package as well as any breaking developments at COP18.

The briefing takes place in Press Conference Room 2 in the Qatari National Convention Centre in Doha, Qatar on Wednesday 28 November, at 11.30am local time (8.30am GMT). It will be webcast live.

NGO experts on the panel will be Anja Kollmuss from Carbon Market Watch and Tim Gore from Oxfam International.

·      What: Briefing on the UNFCCC climate negotiations in Doha covering topics including Poland's role in blocking EU climate action.

·      Where: Press Conference Room 2, QNCC, Doha, Qatar

·      Webcast Live at: http://unfccc4.meta-fusion.com/kongresse/cop18/templ/ovw_live.php?id_kongressmain=231

·      When: 11.30pm local Doha time, Wednesday 28 November, 2012

·      Who: NGO experts on UNFCCC negotiations

Contacts

Climate Action Network (CAN) is a global network of over 700 NGOs working to promote government and individual action to limit human-induced climate change to ecologically sustainable levels.

For more information, please contact CAN International Communications Coordinator Ria Voorhaar, email: rvoorhaar@climatenetwork.org, local mobile: +974 33 38 6907.

 

Photo Credit: Issam Abdallah 

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CLIMATE FINANCE: UP AND NOT DOWN!

To our freshly arrived negotiators, get ready for a major wake up call (or at least a loud and not particularly polite noise) on finance, when the countries most vulnerable to climate change will be rightly asking: what happens when Fast Start Finance runs out at the end of this year?

 
And what happens now that we know Fast Start Finance (the money pledged between 2010 and 2012) was mostly a false start? Yes, ECO did the maths and estimates only 33% of FSF was “new” money (that is, additional to existing, pre-Copenhagen pledges), and around 24% additional to existing aid promises. Only one-fifth of finance was spent on adaptation, and less than half was available as grants. It seems developed countries need to re-learn some basics about climate finance. Which part of “new and additional, predictable, and adequate in relation to rapidly spiralling needs...with balanced allocation between mitigation and adaptation” are they failing to understand?
 
And to those who need illustration of “spiralling needs”, please count the unprecedented number of climate related disasters in 2012 which - along with sea-level rise, and the gradual but deadly effects on agricultural and
fresh water systems - mean that the bill from carbon pollution just keeps going up and up. If we are to tackle the consequences of current inaction, the hundred billion annual figure promised before Copenhagen is now looking implausibly small.
 
Here in Doha, we are facing a “finance cliff” with fast start finance ending just at the point when we need ramping up. ECO is concerned that many developed countries have arrived in Doha unwilling to pledge new resources. For vulnerable countries this is a daunting prospect, and will hugely reduce their trust that these countries intend to make good on their $100 billion a year by 2020 promise. By holding back on money they have promised, developed countries are shooting the 2015 global deal in the foot.
 
Luckily, ECO is giving countries two extra weeks to do their homework on how to:
 
SCALE UP – ECO will not accept Doha as a success without reassurance that climate finance will go UP, not down and especially not off a cliff in 2013. For 2013-2015, developed countries should at least double the amount delivered under Fast Start Finance levels and channel US$10 to 15 billion to the Green Climate Fund.
 
PROGRESS ON SOURCES – To sleep tight, ECO needs to see a scaling up of climate finance to meet the $100 billion per year commitment by 2020. Advancing promising new sources of finance will be crucial to provide
predictable and scalable finance and needs genuine commitment by developed countries. ECO supports the recommendation on the Long Term Finance Work Programme to establish a high-level experts group across the ICAO, IMO and UNFCCC secretariats to examine finance-raising options from a fair carbon pricing mechanism. ECO will give top grades to the EU member states who allocate at least a quarter of the upcoming Financial Transaction Tax to the Green Climate Fund.
 
STRENGTHEN MRV – False Start Finance has taught ECO the tricks for how to count existing aid as new and additional. ECO is now looking forward to learning how to do things the right way. Parties now need to agree on MRV reporting formats on climate finance that help assess whether the promises are “new and additional” finance, and ensure “balanced allocation between adaptation and mitigation”. It is high time that the reporting is transparent, verifiable and clarifies what is “real” and “legitimate” climate finance.
 
HIGH-LEVEL POLITICAL PROCESS – Finally, ECO intends to be an ongoing and relentless nuisance, by insisting on a high level political space for negotiations on finance, if and when the AWG-LCA comes to an end after COP18. In whatever context negotiations continue, finance MUST NOT be relegated to the status of a “technical” issue. There is nothing technical about being on the receiving end of climate disaster. Lives and livelihoods are at stake, and we expect this issue to be treated with the political seriousness it deserves.
 

 

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President Obama: We Hope for Change

In his victory speech after being re-elected to a second term, President Obama swelled the hopes once again of people around the world who care about climate change when he said, "We want our children to live in an America that is not burdened by debt, that is not weakened by inequality, that is not threatened by the destructive power of a warming planet." Those hopes continued to swell when in a press conference a few days later, he responded to a question from the media on climate by saying that he planned to start "a conversation across the country..." to see "how we can shape an agenda that garners bipartisan support and helps move this agenda forward...and...be an international leader" on climate change.  President Obama appears to understand that climate change is a legacy issue that was not adequately addressed during his first term in office.

The question therefore has to be, what next? In his second term, will President Obama deliver the bold action needed to reduce the threat of climate change to the US and the world, by shifting the US economy towards a zero carbon future, and making the issue a centerpiece of US foreign policy? In the aftermath of superstorm Sandy, and the drought, wildfires and other extreme weather events that have afflicted the US over the last year, it is clearly time for President Obama to press the reset button on climate policy, both nationally and internationally.
 
First, the world needs to hear from the President and his negotiating team here in Doha that they remain fully committed to keeping the increase in global temperature far below 2 degrees, that it is not only still possible but essential to do so, and that the USA is going to provide leadership in this collective effort.  
 
The administration should then make clear how it will meet its current 17 percent reduction target. While US emissions are decreasing slightly – both as a result of the administration's policies on renewable energy and vehicle fuel economy standards and because of sharply lower natural gas prices that have reduced coal use for electricity generation – it is unlikely that without additional regulation or legislation that the US will meet its 2020 target. The delegation should also clarify what the Obama Administration will do to put the US on track to the near-elimination of emissions by mid-century called for by the scientific community.  
 
Finally, delegations need to hear that the US remains committed to meeting its fair share of the Copenhagen pledge of mobilizing $100 billion in climate finance per year by 2020, as well as which innovative finance options the administration is prepared to support to get there.
 
These four steps would go a long way to reset US climate diplomacy. They would show that instead of dragging the world down to the level of what is (not) possible in the USA, President Obama and his team are going to pull the US up to what the science and the world demands to avoid catastrophic climate change.  
 
One last point: every coach knows that when you find your team down by several goals at half-time, a change in your game plan may not be enough; it may also be time to make some substitutions to the players on the field.
 
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