Eco Digital Blog

Submitted by MBurgess on Wednesday, November 20, 2013 - 02:07

So here we are at the first ever finance ministerial.  With the ‘climate crunch’ rapidly exposing our economies to the risks of climate change and economic downturn, the stakes have been raised.  Parties have agreed on the need for action, put in place the institutions and frameworks, but there is one essential ingredient missing: finance.

Climate impacts are accelerating and multiplying as they rush through our global economic system.  We all know that the lack of finance is blocking progress – both in action on the ground and in  negotiating a stronger global climate  deal. 

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Submitted by MBurgess on Wednesday, November 20, 2013 - 02:05

You may have noticed the developed countries’ increasing  enthusiasm for having private finance substitute for their direct support as part of meeting the the promise of mobilizing US $100 billion per year by 2020.

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Submitted by MBurgess on Wednesday, November 20, 2013 - 02:03

ECO wonders if developed countries are scheming to create suspense on the Adaptation Fund over the next couple of days, by orchestrating the announcements of their pledges to start with the lowest first: Norway’s  US $2.5 million was announced yesterday. While that doesn’t quite compare to Sweden’s  $30 million, we believe that every dollar counts. Perhaps we will now see a race to the top, with a string of pledges -- each one higher than the one before -- to reach and exceed the goal of $100 million before COP 19 is over.

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Submitted by MBurgess on Wednesday, November 20, 2013 - 02:00

Fill the Adaptation Gap

Only a minor share of climate finance is currently being allocated to adaptation, meaning that vital support to the world’s vulnerable people and communities is lacking. Agreement must be reached to increase finance for adaptation, and a first step must be to improve the balance between mitigation and adaptation. COP 19 should agree that at least 50% of all public climate finance is allocated to adaptation.

Ensure Predictability

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Submitted by MBurgess on Wednesday, November 20, 2013 - 01:59

Where is the Finance (WTF) to fill the gap? Here’s one of many answers to that question, the Financial Transaction Tax (FTT).

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Submitted by MBurgess on Wednesday, November 20, 2013 - 01:57

Over 200 civil society organisations today launch a call for a fair climate fund to be established this week in Cancun. As ministers arrive to face the vital politi¬cal challenges around the continuation of the Kyoto Protocol, sufficient political time and energy must be spared to ensure substantive outcomes on issues that really matter to those suffering from climate change’s savage impacts.

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Submitted by MBurgess on Wednesday, November 20, 2013 - 01:54

With negotiations for a draft ADP  text entering their third day, the debate on equity is surely heating up. This is the moment to ensure that an important aspect of effort sharing is on the agenda: the equitable provision of finance and other means of implementation – especially to the most vulnerable.

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Submitted by MBurgess on Tuesday, November 19, 2013 - 02:48

At the ADP session last night on the chairs’ (now Parties’) text there was at least one thing in common: nobody likes it very much.

ECO is with you on that, but at least there is a text. That’s an important milestone in a long journey. We’ll heed the Chairs’ advice and not provide per paragraph comments but provide some initial impressions.

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Submitted by MBurgess on Tuesday, November 19, 2013 - 02:47

Last year, Doha decided that institutional arrangements ‘such as an international mechanism’ would be established at COP 19. Fulfilling this mandate is the biggest expectation here in Warsaw.

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Submitted by MBurgess on Tuesday, November 19, 2013 - 02:45

Germany is in the middle of difficult coalition talks following the September elections. Climate policy is one of the areas where there still is no agreement.

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