Financing the implementation of an international global warming agreement
The Bali Action Plan adopted at the conclusion of the COP13 conference on global warming included a commitment to negotiate on four key pillars to a successor agreement to the Kyoto Protocol. One of these four, other than the development of a shared vision, was to identify ways of financing the implementation of an international global warming agreement.:
The plan states that countries will commit to "Enhanced action on the provision of financial resources and investment to support action on mitigation and adaptation and technology cooperation" including":
- (i)"Improved access to adequate, predictable and sustainable financial resources and financial and technical support, and the provision of new and additional resources, including official and concessional funding for developing country Parties;
- (ii) "Positive incentives for developing country Parties for the enhanced implementation of national mitigation strategies and adaptation action;"
- (iii) "Innovative means of funding to assist developing country Parties that are particularly vulnerable to the adverse impacts of climate change in meeting the cost of adaptation;"
- (iv) Means to incentivize the implementation of adaptation actions on the basis of sustainable development policies;"
- (v) "Mobilization of public- and private-sector funding and investment, including facilitation of climate-friendly investment choices;" and
- (vi) "Financial and technical support for capacity-building in the assessment of the costs of adaptation in developing countries, in particular the most vulnerable ones, to aid in determining their financial needs."
The other three key pillars of a successor agreement to the Kyoto Protocol were agreed as being:
- "Enhanced national/international action on mitigation of climate change";
- "Enhanced action on adaptation"; and
- "Enhanced action on technology development and transfer to support action on mitigation and adaptation".
Articles and resources
Related SourceWatch articles
- Bali Action Plan and climate change negotiations
- Bali Road Map
- Accra Climate Change Talks 2008
- Clean Development Mechanism
- Emissions Trading
- Joint Implementation
- Kyoto Protocol
- United Nations Framework Convention on Climate Change
- United Nations Framework Convention on Climate Change, "Report of the Conference of the Parties on its thirteenth session, held in Bali from 3 to 15 December 2007: Addendum", United Nations Framework Convention on Climate Change, March 14, 2008, pages 3-6.
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