Many delegates have spent years, inside and outside of this process, on the seemingly enticing topic of innovative finance. ECO understands if some of you are getting tired of this work–so now is the time to harvest the fruits of your labour and lock in new, predictable and significant sources of finance that aren’t at the whim of treasuries!
ECO 3, ADP2-10, English
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In the endless repetition of long-standing positions that passes for climate finance negotiation these days, one message comes through loud and clear: the Paris agreement–yes, the core legal agreement, currently largely in Part 1 of the co-chairs’ tool–must address the scale of finance to be provided post-2020.
ECO has spent years calling for serious discussion on differentiation, and was pleasantly surprised when, yesterday, one materialised. Even better, the “spin off” meeting unfolded as a probing exercise that cast some real and useful light.
The Arctic is one of the regions hit hardest by the climate change, and on Monday, the US convened the GLACIER summit – Global Leadership in the Arctic: Cooperation, Innovation, Engagement, and Resilience – to muster ambition among Arctic Council nations ahead of Paris.
ECO is pleased that Parties have started substantive discussions on the important issue of loss and damage. Equally, ECO is glad to have been helpful to Parties with our debunking mechanism–as was mentioned in today’s loss and damage facilitated discussion, which dove into the hard questions. Key amongst them were:
Constructive proposals have pleasingly been coming out of the Workstream 2 discussions. Crucial emissions gap language, missing since June, has been reintroduced.
ECO is truly enthusiastic about the global sustainable development agenda: “Transforming our World: the 2030 Agenda for Sustainable Development” which received a standing ovation when adopted last month in New York.