Financing for Development Review Conference Expresses Concerns Over the Impact of Climate Change on Development

4 December 2008: The International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus, attended by 92 countries, expressed its “deep concern that the international community is now challenged by the severe impact on development of multiple, interrelated global crises and challenges,” highlighting increased food insecurity, volatile energy and commodity prices, climate change and a global financial crisis.

The Conference, which convened from 29 November to 2 December 2008, in

Doha, Qatar, concluded with the adoption of a draft outcome document

that includes a paragraph on climate change noting that “the concern of

the international community about climate change has increased markedly

since the adoption of the Monterrey Consensus.” In the document, States

further call for the efforts to tackle climate change to be in

accordance with the principle of common but differentiated

responsibilities and respective capabilities. They reiterate “the

importance of reaching an agreed outcome” at the fifteenth session of

the Conference of the Parties to the UNFCCC, to be held in Copenhagen

in December 2009, and urge “all parties to engage constructively in

negotiations consistent with the Bali Action Plan.”

The outcome document also notes the financing for development

implications that addressing this phenomenon will have. It therefore

underlines the substantial additional costs on all countries, and thus

the required additional resource mobilization, including from the

private sector. States also underscored the pressing needs of those

countries most vulnerable to climate change, such as “the least

developed countries, small island developing States, and other affected

countries in Africa.” The States parties to the Kyoto Protocol also

welcomed the launching of the Adaptation Fund within the structure of

the UNFCCC and looked forward to its early operationalization with full

support. [Conference Website]