Overview of UNFCCC Finance

by Bohdan Zymka In an effort to prepare for the coming COP in Warsaw, Earth in Brackets presents a brief overview of finance under the UNFCCC. The cost of climate change is rising. South Centre put the costs of mitigation and adaptation at 600 billion USD to 1.5 trillion USD per year, 5-10 times more then what has been pledged under the UNFCCC, and the costs of loss and damage have yet to be...

Standing Committee and Long-Term Finance under UNFCCC

by Bogdan Zymka Finance is a crucial aspect of making the United Nations Framework Convention on Climate Change an effective regime. The finance system under the UNFCCC is extremely complex. The beginning of the financial mechanism was established under Article 11 of the convention: “A mechanism for the provision of financial resources on a grant or concessional basis, including for the...

What happened to the hope of a green climate fund?

by Nathan Thanki In our pre-COP speculations, everyone thought that the GCF would be one of the key issues and (possibly) outcomes of Durban. The promise--of a new, large, additional, transparent fund that would be driven by the countries that received the money and guaranteed adaptation funding--was great, a light at the end of the dark tunnel through which parts of the regime, like the...