We'd love to hear your ideas: What are some creative potential sources for climate finance?
Good question Joydeep! We've been asking developed countries that since the GCF was established at COP16 in Cancun in 2010! We really need a commitment to a time-limited capitalisation and replenishment process this year... I think developed countries don't anticipate the fund actually being operational before mid-2014 at the earliest, but perhaps Daisy can shed some light on that?
Hi Tim (1.21), I agree some interventions will need public finance - particularly in adaptation. What is important is that we make sure the right kinds of finance and instruments are available to support activities effectively and efficiently. #climatefinance
To @Joydee Gupta: This is normal: The discussion about who will go first: funding or mitigation, has been a permanent discussion in UNFCCC from the start. It is very likely that an agreement will come as a package including both financing and mitigation commitments at the same time. Seen from a human society perspective, this kind of negotiation tactics (that almost all parties use) may perhaps not seem very mature though I am afraid.
I couldn't agree more, Simon, on need for post-2015 MDG that measures action on climate compatible development
hi everyone sorry for joining late some Tech problems ..can i still join
@monasr: Delighted to have you here! Any questions for Mohammed Nasr of the Africa Group of Negotiators?
On the GCF: Better to get the job done right than to rush things too much - the more open discusison there is on issues like the functions and structure of the Fund, the stronger the Fund will be in the end (with transparency and civil society participation as key goals). But having that discussion play out shouldn't be an excuse for developed countries to say they can't put up funds. After all, this board process is part of the operational aspect of the Fund - the Fund IS underway and develpoed countries should contribute now.
Interesting to note is that the US$ 100 billion is a figure that came out from Copenhagen (nice and round) but the actual estimates for required climate funding is about US$ 200 billion by 20130. This is still only less than 0.5 % of global GDP. We are really not talking about huge amounts of funding here, seen from a global perspective. I am inclined to think that some of the previous posts hit the nail on the head: How can we know that the funding goes where it is most needed? #climatefinance
Hi @Joydeep Gupta, on the GCF, the Fund is not yet ready to receive or spend money on programmes. But we want to see the GCF fully operational as soon as possible, and for it to be designed in a way that will attract significant funding from donors and deliver transformational outcomes on the ground. Agree with David Waskow@Oxfam on getting the job done right. #climatefinance
Tim, if we're going to be so reliant on private finance, how do you think we get private money interested in paying for adaptation? Point out that their markets are at risk? Get them to pay for measures like flood walls that protect people and business?
@Roland: on the LTF work program things r not yet clear, my main concern is that we had a very balanced outcome of last years LTF work program and it didnt lead to major change in views
@Khan: i think the GCF is part of an overall package not the one with institutions but the one with the agreement in 2015, and if it is not functioning by then with considerable and predictable resources , i think the 2015 agreemnt would be very difficult if at all possible
Hi Jess_Sinc (1.13), we fund a range of programmes with our International Climate Fund, some are bilaterally with governments, some multilateral funds, some through institutions like CDKN. We have a set of indicators against which we will measure the outcomes delivered. We want to ensure that our programmes deliver real results in developing countries and that we learn what works and what doesn't. #climatefinance
@Mohammed, there was no 2015 interim climate finance target agreed at Doha - is this a demand the Africa Group will drop now, or will you push on it again this year?
The GCF has been one of the relative success stories of the intl negotiations since Copenhagen, but without clarity on scale of likely funding and timeline for operationalisation, this success story - and perhaps the foundation needed for the 2015 agreement - is put at risk #climatefinance