Climate change funding: Needs and expectations | Interamerican Association for Environmental Defense (AIDA) Skip to content Skip to navigation
Photo: Plenary session of the COP 19. Credit: Andrea Rodríguez

Photo: Plenary session of the COP 19. Credit: Andrea Rodríguez

Climate change funding: Needs and expectations

By Andrea Rodríguez, legal advisor, AIDA, @arodriguezosuna, and Mónica Valtierra, AIDA volunteer

Warsaw, Poland. In the discussions about the financial resources needed to tackle climate change, the plenary session of the Conference of the Parties (COP 19) in Warsaw focused on three topics: long-term financing, a report by the Standing Committee on Finance, and another report of the Green Climate Fund (GCF) of the COP. Photo: Plenary session of the COP 19. Credit: Andrea Rodríguez

Long-term financing 

The Philippines. The Philippine representative said long-term financing is crucialfor developing countries and that the outcome of the agreements reached in 2015 will depend on how far those countries are willing to go to see them through.  He said: “There needs to be clarity on the specific amount [of resources required] and which projects will receive the finances. But until now the situation can only be described as disastrous.”  

Egypt. The Egyptian delegate, on behalf of an African group of nations, said: “The agreements will depend on the climate fund’s progress in realizing its goals,  the ability of countries to keep the global temperature from rising at less than 2°C this century, and mobilizing US$100 billion. These are the urgent issues. 

European Union. The EU reaffirmed its commitment to mobilize climate change finances with the expectation that the Green Climate Fund will increase its funding in the area of adaptation. 

Malpes. The Malpes’ delegate spoke about the need to strike a balance between the funding granted for global warming mitigation and what is put toward climate change adaptation. It is an essential issue for developing countries, he said. 

Colombia. Colombia’s delegate called for continued efforts to secure climate change funding because up until now there has been very little action taken in this regard. The commitment of US$100 billion in funding for climate change  mitigation and adaptation is another a pressing task, he added. 

The Standing Committee report 

The Philippines. The Standing Committee has a great deal of work to do, especially with regard to the issues of transparency and access to information, the delegate said on behalf of the G77. “We need to strengthen the mechanisms in place for monitoring, verification and reporting purposes before 2015,” and fully address the issue of additional financing, he said. 

Egypt. Along the same vein of the Philippines, this delegation emphasized the urgent need to provide support for the verification, monitoring and reporting mechanisms. 

Bolivia. The Bolivian delegate spoke about access to funds, which he said is “the cornerstone of addressing the impact of climate change.” It requires the support of all countries, he added.  Photo: Civil society representatives take part in the plenary session. Credit: Andrea Rodríguez

Green Climate Fund (GCF) report to the COP 

The co-chairs of the GCF said the organization must be ambitious and have ever-increasing efforts. They repeated earlier calls to strike a balance between the funds put toward mitigation and adaptation to climate change, and to mobilize financial resources before mid-2014. 

On this topic, the countries said the following: 

The Philippines. There are high expectations for the GCF, said the delegate. But three years after the COP meeting in Cancun, Mexico, it is time to start moving the money. 

Egypt. The mobilization of funds should be optimized as soon as possible and the Fund must concentrate on sustainable financing for climate change, this delegation said. 

India. According to this delegation, the agreements to be reached in 2015 depend on the climate funding that exists at that time. He reiterated the idea of finding an equilibrium between the resources for mitigation and adaptation of the Fund. 

Zambia. “Fifty percent of the funds should be put toward adaptation measures,” which will also support programs set up to reduce poverty in vulnerable groups, said the Zambian delegate. 

Malpes. On the importance of mobilizing financial resources promptly, this delegate called for the funds to be available before the COP 20 in Lima. 

Uganda. This delegate reminded the audience that climate change is not waiting for the mobilization of resources to begin. 

Connect With Us