@ Daisy: i think there is still diffrence in views and even idea on what this fund is and what kind of fund parties would like to c, the views and expectations of developing countries are diffrent than that of developed countries
@Defoe – how NAMAs will evolve…
The current NAMA approach is “Just do it” and then parties are trying to make sense what the NAMAs have in common and how they can be supported (I think there are already 60+ NAMAs announced). They could become an important element for allocating funding from the GCF – and from other climate funding sources. However, some basic requirements of reporting and verification of results are likely to be needed to be agreed on first. In UNFCCC we are actively working to help parties to make progress on these matters technically.
Who's best placed to track climate finance and decide what counts and what doesn't?
@ Megan, the specific target for 2015 was a way to ensure a review mechanism that everything is working and to provide assurances to developing countries very similar to the FSF, not agreeing to it and not agreeing to simple language of scaling up is damaging the trust in the process ..and again might negativley affect 2015
Hi @RobertvMaaren, developing strong programmes on both adaptation and mitigation is challenging, and certainly adaptation programmes have specific challenges such as fully understanding the impacts climate change will have and developing the appropriate intervention where these impacts are uncertain. I wouldn't say that return on investment is always the issue - that's not necessarily what we need to see. It's more about being sure a project will deliver the right outcomes such as more people made resilient to the impacts of climate change. #climatefinance
@Dony, what is expected is some targets to be reviewd from now to 2020, and i beleive a target by 2014 or 2015 would be crucial, it is very much similar to the biannual reports and the NATCOms,
Just 15 minutes to go in our live debate.....
@JoydeepGupta: Agreed this topic is going to needs lots more discussion.....
@ Laurie Goering: Who's best placed to track climate finance and decide what counts and what doesn't?
Good question – and a key question for parties to agree on. It is probably a bit unrealistic to think that donors would provide funding without wanting to know for what the funds are used for. On the other hand, receiving parties may also want to maintain full control of how funds are used to meet their own priorities. There are different models – from a centrally located supervising body, to a global distributed certification system a la ISO.
Hi @monasr, I agree we need to bring views of different countries together to have a clear vision of what the GCF should do and how it can operate most effectively. Hopefully the GCF Board can do this. Interested to hear ideas from participants in this discussion about how the GCF could operate to improve the delivery of climate interventions. #climatefinance
There's no question that the Doha outcome on finance was imbalanced; developed countries will need to bring more to the table at the next COPs if they're to lay the foundation for success in 2015. What should they deliver @ COP19? We're still working on our proposals,
but commitment to timeline for capitalisation and full operationalisation of the GCF and commitment to 50% of climate finance for adaptation from public sources wouldn't be a bad start
i think the challenge is towards the possibility of making sure that private sector will put funding in the LDCs and some of the poorest countries mainly in africa
@ Mforstater : the pay for perfomance or results based approach is very tricky, while it might work with mitigation but it waits to be seen how will it be applied in adaptation
How did this finance gap between 2010-2012 and 2020 come to be in the first place? Seems a fairly huge and evident hole, right?
@ Alister - one of the lessons of Copenhagen was that leaving everything to the last minute (nothing is agreed until everything is agreed) is a bad idea... so if developed countries are serious about the 2015 deal, they should be very careful about leaving their finance offers until then... progress on finance needed at each COP through to 2015 to lay the foundation for success
@ Laurie , developing counties have pointed to this gap since 2009, the african group proposals the draft ones were constantly trying to fix it through building on fast start reaching to the 100 billion, but unfortunatly this didnt pass