The shadow of the global economic recession looms over Cancun, Mexico, where signatories to the UN Framework Convention on Climate Change (UNFCCC) will meet for the 16th time from 29 November.
Almost every climate deal hinges on money, and the economic slowdown is likely to have a bearing on the discussions related to adaptation, mitigation or technology transfer. But maybe some goodwill - and the instinctive need for self-preservation - will prevail.
The UN Secretary-General Ban Ki-moon set up a High-level Advisory Group on Climate Change Financing to identify "new, innovative and additional sources" for long-term financing to support adaptation and mitigation activities in developing countries. The group reported back recently that raising US$100 billion a year from 2020 from the private sector could be feasible through the carbon markets, fuel levies and carbon taxes while learning to spend public money prudently. But will that money be predictable?
Aid watchers say finance for short-term adaptation may start coming in now that the Adaptation Fund is operational. There might also be some new pledges in Cancun, and the spotlight will be on creating a new Climate Fund, also called the Green Fund, first mooted by Mexico.
IRIN has been following climate-change policy developments since the countries last met in Copenhagen, Denmark in 2009. In this collection of reports, we have attempted to provide a humanitarian guide, and bit more. Download the report
Almost every climate deal hinges on money, and the economic slowdown is likely to have a bearing on the discussions related to adaptation, mitigation or technology transfer. But maybe some goodwill - and the instinctive need for self-preservation - will prevail.
The UN Secretary-General Ban Ki-moon set up a High-level Advisory Group on Climate Change Financing to identify "new, innovative and additional sources" for long-term financing to support adaptation and mitigation activities in developing countries. The group reported back recently that raising US$100 billion a year from 2020 from the private sector could be feasible through the carbon markets, fuel levies and carbon taxes while learning to spend public money prudently. But will that money be predictable?
Aid watchers say finance for short-term adaptation may start coming in now that the Adaptation Fund is operational. There might also be some new pledges in Cancun, and the spotlight will be on creating a new Climate Fund, also called the Green Fund, first mooted by Mexico.
IRIN has been following climate-change policy developments since the countries last met in Copenhagen, Denmark in 2009. In this collection of reports, we have attempted to provide a humanitarian guide, and bit more. Download the report
This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions
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