Green Climate Fund Approves $1B in New Projects

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On October 21, 2018, the Green Climate Fund (GCF) Board concluded its 21st meeting by approving 19 new projects, totaling $1.038 billion. This board meeting comes right after the IPCC released the Special Report on Global Warming of 1.5°C (SR1.5) (which we posted on here and here) and a little over a month before COP24. As UNFCCC Executive…
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The Paris Agreement and the Green Economy

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The adverse impacts of climate change are no secret. We are constantly reminded of the gloomy consequences that will arise at our continued rate of consumption without significant intervention. It is predicted that growing wage gaps combined with climate change will cause over 100 million people to fall into poverty. Moreover, this alarming statistic could…
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We can do more!

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After two weeks of negotiations in which we observed UNFCCC Parties, stakeholders, and all the people that make possible the Conference of the Parties (COP), I leave Bonn with several reflections. Parties do have the ability to achieve consensus and adopt the necessary decisions towards the implementation of the Paris Agreement. People all around the world are working…
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G77 + China: Perspectivas de la COP23

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Compuesto por 130 países, el G77 + China representa el grupo negociador más grande en la Convención Marco sobre el Cambio Climático (CMCC). El día de hoy durante su conferencia de prensa, la señora María Fernanda Espinoza en nombre del grupo, expresó los retos y debilidades de la COP23, así como los resultados positivos de…
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Future of the Adaptation Fund: Developing Countries vs. Developed Countries

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The Adaptation Fund (AF) is a mechanism created through the Marrakesh Accords but funded through the Clean Development Mechanisms (CDMs) described in the Kyoto Protocol. The intention of the COP in the creation of the AF is the facilitation and funding of adaptation projects in developing countries to strengthen their resistance to climate change. Two percent of…
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Adaptation and Climate Resilience – Help Wanted

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A recent National Academy of Sciences (NAS) half-day seminar – Climate Change Adaptation Investments and Measuring Effectiveness – considered a pressing suite of interrelated issues. As Timmons Roberts of Brown University (one of the moderators) stated, “[t]his seminar is not an academic exercise.” Developing countries urgently need climate change adaptation help and they want and…
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Mobilizing the Private Sector to Finance Adaptation

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Today at COP 22 the Japanese delegation hosted a side event at their pavilion about mobilizing the private sector to finance climate change adaptation. The panelists discussed ways to involve the private sector from regional, business, and public policy perspectives. The panelist from Bangladesh, Dr. Saleemul Huq, then present specific examples of how the private sector…
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LDCs – Concern, yet hope, entering Week 2 of COP22

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At the end of the first week, many were expressing concern that Marrakech’s purported COP of Action wasn’t measuring up for the world’s most vulnerable countries. Yesterday morning, Least Developed Countries (LDC) Chair, Tosi Mpanu Mpanu, identified troubles on key issues of ambition, adaptation / loss & damage, and climate finance. In particular, he noted…
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Counting On Big Bucks for Adaptation – More News from SB44

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Financing Adaptation was a big topic in Bonn at SB44 last month (see our SB44/APA1 overview here), and rightly so, with the newly released UN Environment Program (UNEP) 2016 Adaptation Finance Gap Report. The report states that current international public finance flows for adaptation are only one-third to one-half the amount needed right now. Additionally,…
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The GCF – Can We Count On It?

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In 2009, as we reported earlier, developed country Parties to the UNFCCC committed to jointly mobilize $100 billion/year by 2020 to help developing countries address their climate change needs. The Green Climate Fund (GCF) – the designated heavy lifter for this goal – was created by COP16 in 2010. Its purpose is to fund developing…
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Adaptation Economics Reveal Insufficient Adaptation Activities

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When national and local economies are faced with calculating potential climate-impacted losses, decision-makers face difficult financial-planning decisions. Nature Climate Change published a study comparing adaptation responses between global megacities based on spending measures. The study found that cities varied their adaptation spendings between £15 million and £1600 million. Developed cities allocate most of their adaptation funds to energy and water, developing countries…
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It’s All About the Benjamins: Ratcheting Up Financial Support for Developing Countries

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In 2009 Parties to COP15 in Copenhagen agreed to a global goal of mobilizing $100B (that’s right, billion) per year for climate finance by 2020. A recent OECD report indicated that we are well on our way to achieving that goal (with $62B committed in 2014). Unfortunately though, $100B may not even be enough to…
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Finances are the Glue that will make the Paris Agreement Stick

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Starting the second week of negotiations, the Climate Action Network’s held a press conference to discuss their view of the current “state of play” in the climate talks. Two themes clearly emerged; the need for a robust and certain climate Agreement to come out of Paris with clear targets and deadlines to send the correct…
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Sparks Fly as G77 and China Clash With Developed Countries Over Climate Finance

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Thursday’s ADP Contact Group stocktaking meeting took an unexpected turn when Ambassador Nozipho Mxakato-Diseko of South Africa took the floor with sharp words for developed countries that she accused of obstructing today’s Spin Off Group on Adaptation. Importantly, Ms. Mxakato-Diseko spoke in her capacity as Chair of the G77 negotiating group, which represents 137 developing…
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Will some be left behind? The significance of climate finance

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 For countries on the front lines of climate change, access, availability, and urgency of funding needs are significant. As an example, rising sea levels in Senegal and Gambia have already impacted agricultural production. Saltwater intrusion into agriculturally productive lands has reduced food production. Further, warming temperatures and resulting increased length of seasons have heightened health…
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