The 2nd Exchange Series

Topic: COP19, GCF and Business Involvement

Dear colleagues and friends,

 

The annual COP season will be upon us in a few short weeks. And like many of you, I will be following the negotiations closely, along with a little cynicism and a healthy dose of hope.

 

Several issues under the UNFCCC are high on the agenda at COP19 They include the new universal 2015 climate agreement, post-2020 mitigation pledges, and, of course, climate finance.

 

There is no doubt that climate finance lies at the heart of addressing climate change and supporting meaningful outcomes from the 2015 climate deal. In real terms, this means providing more technical assistance to developing countries and scaling up bankable climate change projects.

 

Part of what needs to be done at this COP is for UNFCCC Parties to provide greater clarity on the progress made to mobilize the US$100 billion annually by 2020 – the goal that has yet to fully materialize.

 

Big hopes have been placed on the Green Climate Fund (GCF) to capture and disburse the annual US$100 billion and to be an effective conduit for climate finance. With that in mind, I would like hear your views on the following questions:

 

1. Should the GCF attempt to capture the lion’s share of the $100 billion per year by 2020 and consolidate all of the other fragmented funds (especially since the Adaptation Fund is almost running out money)?
2. Can the GCF be expected to be the exclusive conduit for climate finance? If not, what more can be done to mobilize climate finance and meet the 2020 goal?
3. As much of the climate finance will need to come from the private sector, what is the private sector’s role in adaptation and how can funds be tapped from this source?

 

All comments, thoughts and inputs are valuable and will help inform future ADAPT Asia-Pacific activities. I look forward to a robust discussion.

 

Thank you.

 

Dr. Peter N. King

 

Team Leader
Adaptation Project Preparation and Finance
ADAPT Asia-Pacific