Prior to being discussed behind closed doors yesterday, Article 6, paragraph 7 aimed to ensure international public finance was not used to fuel (pun intended) the very problem this entire agreement is trying to solve: the climate crisis. In the new text just released, it is clear that what is now Article 6, paragraph 4, option 3, fell victim to Parties pandering to the interests of big oil, coal and gas.
This text is not about dictating domestic development choices: it is the no-brainer that says that all-too-scarce international public financing should be used to solve the problem, not make it worse. Countries have just a couple of days left to make sure that big polluters don’t leave their dirty fingerprints all over this deal. It is high time to follow the advice on the stylish scarves that many seem to be sporting and #StopFundingFossils.
