Global Climate Finance Roadmap Needs Input from Developing Countries
Climate advocates working the hallways last week at the United Nations climate conference in Bonn were picking up signs that developed countries “may finally be getting excited about the idea of preparing a 2020 climate finance roadmap,” reports ECO, the daily conference newsletter produced by Climate Action Network International.
“The question now is what the roadmap should contain,” ECO notes. “Its purpose should be clear: to demonstrate how developed countries will deliver on the promise of US$100 billion a year,” the promised level of climate finance for countries most affected by climate change, beginning in 2020.
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The climate finance roadmap “should outline scenarios for the variety of instruments and channels to help deliver this pledge, as well as types and purposes of finance that play a role in the context of the commitment,” ECO suggests. “This will also include identifying barriers and actions to make these scenarios possible. Countries will need to look at the range of available multilateral funds, such as the Green Climate Fund and the Least Developed Countries Fund, reflect on the role of the multilateral development banks to help developed countries deliver on their promises, draw scenarios for evolving bilateral assistance, and enhance direct access and country ownership.”
The article sets out a series of other criteria for an effective climate finance plan, including input from developing countries. It suggests the Bonn conference, which continues through May 26, as “the ideal moment to seek out such input, as well as through the coming months—so we can all enjoy the roadmap by COP22.”