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.
Presidents Obama and Xi are demonstrating courageous leadership on climate change. Both countries are moving forward with on-the-ground action to hasten the transition to a low-carbon economy. They’re also laying the cornerstone for an ambitious climate agreement in Paris.
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.
While dealing with sooty clouds from massive forest fires in recent weeks, Indonesia submitted its post-2020 climate action plan, committing to an unconditional target of a 29 percent reduction in greenhouse gas emissions by 2030, compared to a business-as-usual scenario.
What Counts: Tools to Help Define and Understand Progress Towards the $100 Billion Climate Finance Commitment
This working paper, a collaboration with WRI, CPI and ODI, aims to make a positive contribution in the lead up to Paris by first unpacking the key variables Parties have emphasized in debates about “what counts”, and then proposing an approach to classifying climate finance that Parties could...
The finance stream of the UN climate negotiations in Bonn, Germany, last week showed a clearer narrative emerge about the key elements that should be included in the outcomes of the December climate summit in Paris.
This week's climate talks in Bonn made important progress on the core structure of an international climate agreement, but time is short and countries will need to intensify their efforts to set the stage for success at COP21 in Paris in December.
China will need investments in the order of $330 billion (RMB 2 trillion) a year from 2015-2030 to overcome its environmental challenges. Tapping the private sector can help scale up the country's green finance.