A stumbling block at COP 23 – Finance

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The cost of mitigating climate change is estimated at 200-350 billion Euros (236-413 Billion USD) per year by 2030. It is a manageable sum in terms of a global burden, only 1% of global GDP. In terms of who pays and how much to pay, however, it becomes a disputed figure. For example, developed countries agreed…
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Loss and damage at SB44 – Whither the WIM?

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While, as we posted last week, loss and damage (L&D) was not on the agendas of the Subsidiary Bodies or the APA at the UNFCCC intersessional meetings held in Bonn, May 16-26, some attention was paid to this important issue. Four side events covered varying aspects of L&D policy and action, both inside and outside…
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“Legally binding enforcement system … will reassure investors”

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U.S. Secretary of State John Kerry, who is in Paris this week for the COP21 negotiations, is making the Obama Administration’s case for the new Paris Agreement (or Paris Outcome, as it was renamed last week at China’s suggestion). “A legally binding enforcement system will reassure investors, who have to carry the low-carbon economy beyond…
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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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