Finance COP – or Finance Flop?

22 November 2013

Those who expected high-level guidance from the eagerly expected ministerial finance dialogue certainly did not get it.

There were a few notable exceptions: Adaptation Fund pledges, a few constructive interventions, and some stark reminders of what is at stake. But on the whole, it was a dull string of speeches devoid of content, much less actual offers of finance.

Yesterday, negotiators were stuck over the Green Climate Fund and whether it should run empty for another year. These decisions are political, and ECO suggests that ministers dip into their ambition reserves for that purpose.

Concerning the promise of finance increasing to US $100 billion a year by 2020, there are four concrete outcomes that would help pave the way:

* Increase trust in promises made.

* Increase finance for adaptation.

* Increase predictability.

* Increase political attention.

In the remaining hours, there is one last chance that a greatly strengthened effort on finance could restore the promise that this would be the Finance COP.