Time to close the Finance Gap

2 June 2010

ECO has been excited about the buzz that’s been created around closing the gigatonne gap over the last few days. Delegates are waking up to the need to raise ambition, close loopholes and seek new and innovative solutions to cutting emissions. But ECO would like to remind developed country delegates that it’s not just a mitigation gap – it’s a finance gap too. In line with the mandate to implement all elements of the Bali Action Plan, billions in new, additional, public finance are needed to support nationally appropriate mitigation actions in developing countries.  Failure to do so would keep the gigatonne gap wide open.