06 December 2011

This year marks a decade since the Least Developed Countries Fund (LDCF) was established at COP7 in Marrakesh to finance the most urgent adaptation needs of least developed countries. Unfortunately little is said about the LDCF and there is less to celebrate. Ten years on, only $415 million has been pledged towards a total $2 billion to prepare and implement adaptation programmes of action (NAPAs), the fund’s purpose.

Negotiators in Durban cannot reverse what has been a lost decade for adaptation finance. But they can and must secure an outcome in Durban that leads to reliable, sufficient and predictable flows of adaptation finance to developing countries in the decade ahead.

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17 May 2011

EU Finance Ministers agreed on text to further the EU’s position on its contributions towards international climate finance. CAN-Europe and its members welcome the conclusions and were pleased to see the endorsement of the AGF report which highlighted a number of innovative finance sources for climate finance. Its all on the IMO and ICAO to make decisive progress to raise revenues for bunker fuels.

The text does conclude on many important issues but doesn't elaborate on the most pertinent question - how it plans to raise the 100bn promised to finance mitigation and adaptation actions in developing countries? In addition it fails to mention what sources would be looked into and misses the opportunity to address the Financial Transaction Tax (FTT).

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17 November 2010

A new report [1], commissioned by CAN Europe [2], examines the EU’s commitment to keeping the promises made by developed countries in Copenhagen to provide immediate “new and additional” climate cash for developing countries. [3]

Based on the findings of the report, green and development NGOs call for an improved transparency in EU’s reporting on “fast-start” climate finance.

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02 September 2010

On the invitation of Switzerland and Mexico, representatives from the the United Nations Framework Convention on Climate Change (UNFCCC) secretariat and over 40 countries met in Geneva today for a two-day meeting with the intent of bridging divergent views on how to structure and finance climate mitigation and adaptation actions around the world. Finance is one of the key issues in the ongoing negotiations under the UNFCCC and will be a critical issue at the sixteenth Conference of the Parties (COP 16) in Cancún, Mexico in December 2010. Cancún represents an especially important meeting as the first COP - the only venue for making official decisions on the UNFCCC - since Copenhagen.