Since 1992, the United Nations Framework Convention on Climate Change (UNFCCC) has set out a framework for international action to stabilize greenhouse gas emissions (GHG) to prevent dangerous climate change. The UNFCCC recognizes that developed country Parties (Annex II Parties) have to provide financial resources to assist developing country Parties in implementing the set goals.
During the 15th session of the Conference of the Parties (COP15) held in Copenhagen, the developed countries pledged to cooperatively provide USD 100 billion annually by 2020 to developing countries and guaranteed immediate “Fast-start Finance” of up to USD 30 billion over 2010–2012 to launch the project. Such financing can support developing nations by enabling poorer countries to move towards low-emission and climate-resilient development pathways.
In this chapter we focus on climate finance as it appears from the meetings that have taken place from the COP1 to the COP22. We propose a first analysis of the financial flows intended to promote energy generation and supply with renewable sources and those funds intended for the protection of the physical environment in order to identify preferential channels in “Fast-start finance” distribution and whether these preferences can affect the effectiveness of such measures.
KeywordsConference of the Parties Climate finance Fast Start Finance Funds’ distribution Energy generation Biosphere protection
- Agence Française de Développement, “AFD’s Strategy in Turkey”, (2015) Available at http://www.afd.fr/webdav/site/afd/shared/PUBLICATIONS/THEMATIQUES/AFD_Turquie_GB.pdf. Accessed 07 Oct 2016
- Bird N, Tilly H, Trujillo NC, Tumushabe G, Welham B, and Yanda P (2013) Measuring the effectiveness of public climate finance delivery at the national level, ODI; London. http://www.odi.org.uk/sites/odi.org.uk/files/odi-assets/publications-opinion-files/8303.pdf. Accessed 08 Oct 2016]
- Indipendent Commission for Aid Impact (2014) The UK’s international climate funds. ICAI Report 38 http://icai.independent.gov.uk/wp-content/uploads/ICAI-Report-International-Climate-Fund.pdf. Accessed 14 Feb 2017
- Keeley AR (2016) Renewable energy in pacific small island developing states: the role of international aid and the enabling environment from donor’s perspectives. J Clean Prod. Available online 11 May 2016, doi: 10.1016/j.jclepro.2016.05.011. Accessed 3 Oct 2016
- Nakhooda S (2013) The effectiveness of climate finance: a review of global environment facility. Overseas Development Institute, LondonGoogle Scholar
- Nakhooda S, Norman M (2014) Climate finance: is it making a difference? a review of the effectiveness of multilateral climate funds. Overseas Development Institute, LondonGoogle Scholar
- Nakhooda S, Fransen T, Kuramochi T, Caravani A, Prizzon A, Shimizu N, Tilley H, Halimanjaya A, Welham B (2013) Mobilising international climate finance: lessons from the fast-start finance period. Overseas Development Institute, LondonGoogle Scholar
- OECD (2008) Handbok on constructing composite indicators. Methodology and User Guide. OECD, ParisGoogle Scholar
- OECD (2015) Climate finance in 2013–14 and the USD 100 billion goal. OECD, ParisGoogle Scholar
- Tirpak D, Brown L, Ronquillo-Ballesteros A (2014) Monitoring climate finance in developing countries: challenges and next steps. World Resources Institute, Washington DCGoogle Scholar
- UNFCCC (2014) Biennial assessment and overview of climate finance flows 2014. Accessible at: http://unfccc.int/cooperation_and_support/financial_mechanism/standing_committee/items/2807.php
- UNFCCC (2016b) Report of the conference of the parties on its twenty-first session, held in Paris from 30 November to 13 December 2015. Addendum. Part two: Action taken by the Conference of the Parties at its twenty-first session. United Nations Office at Geneva, GenevaGoogle Scholar
- UNFCCC (2016a) Summary and recommendations by the standing committee on finance on the 2016 biennial assessment and overview of climate finance flows. Biennial Assessment and Overview of Climate Finance FlowsGoogle Scholar