Seeking Sustainable Guidance on the Road Towards COP23
Since the start of this session ECO has been looking for some guidance on climate finance. However, the complexities of these negotiations – debates about the Adaptation Fund serving under the guidance of the CMA or/and CMP; the technical discussions about accounting modalities; and the possibility of including finance in the Global Stocktake – have us completely lost.
It took the CVF press conference to bring things back into focus. “As long there is a chance to stop global warming at a level that lets humanity survive and thrive, we should seize it,” the climate commissioner from the Philippines said, adding, “This is why we continue to advance the call for world leaders to keep to the 1.5 goal and to recalibrate climate finance.”
Before bidding farewell to the negotiators for a little while, ECO wants to remind them that outside this bubble, speaking about finance also reaffirms the importance of urgent climate action, and brings trust into the new climate regime. Developed countries have already committed to mobilise US$100 billion and while this commitment is welcome, let’s not forget that the costs for addressing climate change within developing countries are significantly higher.
As we move towards COP23, we want to share three priorities.
... Read more ...