Green Shoots for the Financial Mechanism

10 June 2010

As a low-key session in the all too familiar confines of the Maritim draws to an end, the pressures, ambitions and disappointments of Copenhagen are fading into the background. Green shoots are appearing in the LCA finance negotiations, where the dry discussions of institutions, functions, accountability and authority are turning into a rich and productive engagement. 

Largely stalemated since Accra almost two years ago, polarized positions are giving way to an open discussion and perhaps real movement towards agreement. ECO noted the Philippine delegation responding positively to the US proposal on the outline of a governance structure.  This is the clearest indication to date that the US may finally be willing to engage constructively in setting up a climate fund in accordance with contemporary best practices in global governance.

However, the history of international negotiations is littered with hard-fought but under-resourced funds and institutions. So while we celebrate progress towards agreement on the institutions, we can’t lose sight of the need for agreement on the innovative sources of public finance that can generate financing at the scale required, the need for developed countries to step up and take the lead with truly ambitious emissions reduction efforts, and for near-term global emissions peaking and reductions to levels that will ensure our children and grandchildren a blossoming planet.

Support CAN

Help us build power in the climate movement by contributing a one-time or recurring donation that will go to supporting our global work as well as various activities and campaigns in communities in different regions.

Donate to CAN

Stay informed

Subscribe to receive monthly updates on the latest on the climate movement including the content from across the network, upcoming climate change events, news articles and opinion pieces on climate, straight to your inbox.

Subscribe to our newsletter