by Ram Kishan
Many UNFCCC stakeholders see climate finance as one of the linchpins holding together the entire climate negotiation process, and for good reasons. First, climate finance is key to closing gaps: delivering funds to implement mitigation and adaptation activities is required in order to ensure the highest possible efforts. For mitigation, this means keeping the planet on a pathway that limits global warming to 2°C or less; for adaptation, this means enabling climate-resilient development. Second, the provision of climate finance fulfils developed countries’ financial commitments to developing countries under UNFCCC obligations. Third, some stakeholders maintain that developed countries, which provide the means to implement climate change projects (finance, technology and capacity building) will determine developing countries’ level of commitment and buy-in to a new climate deal in 2015.
There is only one year left before the COP in Paris, where the Parties are expected to adopt a protocol – another legal instrument or an agreed outcome with legal force under the UNFCCC – that is applicable to all Parties. There are few political openings left to reassure developing countries that their domestic climate actions will receive commensurate international support. In this context, the COP in Lima is a critical opportunity to provide the necessary predictability, which is currently missing in the negotiations.
Now that we are 3 days away from the end of negotiations at COP 20 in Lima, lets reflect on the past few days…
An [In]equitable Climate Treaty in Paris 2015?
World leaders have been touting COP 20 as the conference to pave the road to a legally binding treaty in Paris in 2015. By Day 9, however, divisions between the Global North and Global South are making themselves known, particularly around the ADP (Ad hoc Working Group on the Durban Platform) also known as the fundamental base for negotiations to get to Paris. With many of us pushing for equity to be at the heart of next year’s climate deal, it is disheartening to see the degree of division among member states. Particularly upsetting is that it is the so-called “developed” countries that seem to be actively working against equity thus far.
We are already seeing problematic comments from the EU, U.S., Australia and Switzerland — supported by Canada and New Zealand — on climate financing. Likewise there has been strong pushback on linking climate finance through the Green Climate Fund and the Adaptation Fund to international law. This is deeply troubling as it essentially opens the door for countries to set their own terms for funding adaptation and mitigation efforts in the Global South. Continue reading