~~The gap between the need for adaptation and loss and damage finance and the current finance provided or committed is large and growing. It has been estimated that each year US$150 billion will be needed for adaptation and loss and damage by 2025, even if warming is kept below 2 degrees. When compared with the currently provided sum of approximately $20-23bn per year and the current warming trajectory of approximately 4 degrees, the scale of the challenge is clear. There is also a growing gap in mitigation finance.
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, firstname.lastname@example.org
Lucile Dufour, Réseau Action Climat France, email@example.com
Eddy Pérez, Climate Reality, firstname.lastname@example.org
Dear Madam Chancellor,
Hello, my name is Blessing Mutiti and I am speaking on behalf of the youth, ENGO, gender and trade union constituencies.
We want to stress the importance of climate finance for all our constituencies and the people we represent. Many of those who are most vulnerable to the impacts of climate change are least responsible for causing it. So providing climate finance is a legal and moral obligation of developed countries - those countries who have the greatest responsibility and capacity.
The first Fossil of the Day in Lima at the UN Climate Talks goes to Australia, Belgium, Ireland, Austria, Iceland, Greece and Portugal for being the only developed countries who have so far failed to contribute to the Green Climate Fund. After a string of encouraging initial contributions, it seems a few free-riders within Annex 2 believe they are off the hook on this one.
The first Fossil of the Day in Lima at the UN Climate Talks goes to Australia, Belgium, Ireland, Austria, Iceland, Greece and Portugal for being the only developed countries who have so far failed to contribute to the Green Climate Fund. After a string of encouraging initial contributions, it seems a few free-riders within Annex 2 believe they are off the hook on this one. Their intransigence translates into several billions of dollars missing in the fund’s coffer - that’s money not being spent helping developing countries reduce their pollution and adapt to climate impacts.