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climate finance

Last week, the Green Climate Fund (GCF) Board met for its last meeting before the upcoming climate talks in Paris. Countries created the GCF to be the main global fund for climate finance, and as such, it could play a vital role in delivering the goals of an agreement in Paris. If the GCF is to be a key player in the future climate regime, it needs to show that it can effectively spend money. Is it up to the task?

Statement from Dr. Andrew Steer, President and CEO of the World Resources Institute, on the findings of a new report from the Organisation for Economic Co-operation and Development (OECD). The report finds that $62 billion in climate finance was committed in 2014 by developed countries and multilateral banks towards the goal of $100 billion per year by 2020. This amount reflects a significant jump over the $52 billion committed the previous year, 'represents a significant upward trend in climate finance which, if it continues, shows that the goal of $100 billion by 2020 is within reach.'

We’re now halfway towards the 2020 deadline – set in 2009 – for developed countries to mobilize $100 billion a year in climate finance. It’s essential to show that developed countries are keeping their commitments so developing countries know they have support for ambitious action when countries meet to forge a new global climate agreement in Paris this December. So with five years to go, how close are we to $100 billion a year? And how could we get there?

France and the UK announced increases in the amount of climate finance they will be providing in the coming years. France committed to increase its climate finance by €2 billion a year (around US$2.25 billion) to deliver a total of €5 billion a year by 2020, and the UK announced it will provide £5.8 billion (around US$8.8 billion) from its foreign aid budget for climate finance between 2016 and 2021. The announcements came during the summit launching the Sustainable Development Goals and heads of state meeting at the UN General Assembly.

Sementara masih menghadapi asap tebal dari kebakaran hutan dalam beberapa minggu terakhir, Indonesia telah menyerahkan rancangan kebijakan iklim pasca-2020, yang dikenal sebagai Intended Nationally Determined Contribution (INDC), atau Kontribusi Nasional yang Dimaksudkan. Di dalam dokumen tersebut, negara penyumbang emisi gas rumah kaca terbesar kelima di dunia ini berkomitmen terhadap target tak bersyarat berupa 29 persen penurunan emisi pada tahun 2030 dibandingkan skenario business-as-usual, dan sebesar 41 persen dengan bantuan internasional. Dengan ini, Indonesia telah menetapkan untuk memperpanjang target mitigasi sukarela 2020 dan bergabung dengan lebih dari 70 negara lainnya yang telah mengumumkan INDC mereka.


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