UNFCCC Releases Long-term Finance Work Programme Report
6 November 2012: The UNFCCC Secretariat has released the report on the workshops on the work programme on long-term finance (FCCC/CP/2012/3). The report includes information on the workshops and the web-based activities undertaken in the context of the work programme on long-term finance in 2012.
The report provides recommendations that may contribute to the ongoing effort to scale up the mobilization of financial resources from a broad range of sources, including public and private, bilateral and multilateral, as well as alternative ones. It also identifies possible areas in which the Convention can play a role in fostering scaled-up climate finance in the future, and issues that need further work.
The report indicates that the work programme involved 279 participants in the two workshops held in 2012, and 280 participants from over 90 countries and across the spectrum of stakeholder organizations involved in climate finance for the webinars. It incorporates findings and recommendations of the work programme Co-Chairs, and features sections on: implementation of the work programme; assessment of climate-related financing needs; potential sources of climate finance; and enhancing enabling environments.
The work programme Co-Chairs highlight, inter alia, that: the current scale of finance does not match the level required to fully address the adaptation and mitigation needs of developing countries; there is a need for a political process covering the scaling up and mobilization of climate finance, as well as for intensified and more structured work in processes under the Convention, that should focus on sources and options for mobilizing climate finance in the short-, medium- and long-term.
Futhermore, the work programme Co-Chairs call for clarity in the delivery of climate finance for the period after 2012, including on how developed countries will deliver on their commitment to jointly mobilize US$100 billion per year by 2020. The Co-Chairs underscore: the need for enhaced work on climate-related financing needs in developing countries; that tracking of climate finance must be strenghtened; and the need for enhancing enabling environments in many developing countries, which play a crucial role in reducing investment barriers and using climate finance effectively.
The Conference of the Parties (COP), by Decision 2/CP.17, paragraph 127, decided to undertake a work programme on long-term finance in 2012, including workshops, to make progress on long-term finance in the context of decision 1/CP.16, paragraphs 97-101. [Publication: Report on the Workshops of the Work Programme on Longterm Finance on Long-term Finance]