Are Developing Countries Satisfied with Half Filled Promises?

8 November 2017

Some donors are reporting their loans at face value and not grant equivalent. They also report a high share of loans in their Second Biennial Reports submitted to the UNFCCC Secretariat. France reported that only 2% was provided as grants, Japan 5%, and Germany 45%. Other countries such as Norway, Sweden, Denmark, Switzerland and Canada considered their climate finance to consist exclusively of grants.

Another important topic for COP23 is the many weaknesses in the current UNFCCC system for defining, categorising, tracking, and evaluating climate finance. Although the Standing Committee on Finance is aware of the problems, progress towards improvements is slow.

  • An additional column in Table 7, assessing how much of the country’s core funding of multilateral institutions should be counted as climate finance (“imputed multilateral contributions”).

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