It’s a familiar theme: developments within Annex I countries are worrying ECO. In the recent European Commission proposal, auctioning seems not to have made the grade. This doesn’t instill confidence in European leaders whilst they make up their minds on a financial package at the end of this month. Whilst Europe procrastinates, we see developing countries focus their efforts (quite rightly) on pushing Annex I on scale, not sources.
And so we come to a standstill.
As a decent proposal withers away, no one is nurturing it. “So what?” some Parties might add. Well, there is real merit in auctioning: it’s automatic, supports compliance, doesn’t have to flow through national budgets, provides money that is new and additional to ODA commitments, and can raise substantial amounts to name but a few.
So what’s the problem? ECO says: back to the drawing board, and keep working to fill out the sketch into a complete design. .