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International Climate Finance from a Global Perspective


Ombuya, Sherri; Shishlov, Igor; Michaelowa, Axel (2023). International Climate Finance from a Global Perspective. ÖFSE Working Paper Series 76, ÖFSE Austrian Foundation for Development Research.

Abstract

The Paris Agreement reaffirmed the commitment to provide USD 100 billion in international climate finance to developing countries by 2020. This Working Paper delves into the history and challenges of international climate finance. We emphasize the complexities tied to diverse definitions and accounting practices, leading to disputes over climate finance figures, as well as the struggle of developed countries to meet the USD 100 billion annual target. With the need to mobilize finance for addressing loss and damage (L&D) gaining traction in UN climate negotiations, we examine how similar challenges may hinder progress on the L&D agenda. Furthermore, we stress the importance of fostering trust between donor and recipient countries in the context of financial support pledges under the Paris Agreement. We identify how key negotiation processes, like the New Collective Quantified Goal on Climate Finance (NCGG), have the potential to change the status quo.

Abstract

The Paris Agreement reaffirmed the commitment to provide USD 100 billion in international climate finance to developing countries by 2020. This Working Paper delves into the history and challenges of international climate finance. We emphasize the complexities tied to diverse definitions and accounting practices, leading to disputes over climate finance figures, as well as the struggle of developed countries to meet the USD 100 billion annual target. With the need to mobilize finance for addressing loss and damage (L&D) gaining traction in UN climate negotiations, we examine how similar challenges may hinder progress on the L&D agenda. Furthermore, we stress the importance of fostering trust between donor and recipient countries in the context of financial support pledges under the Paris Agreement. We identify how key negotiation processes, like the New Collective Quantified Goal on Climate Finance (NCGG), have the potential to change the status quo.

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Additional indexing

Item Type:Working Paper
Communities & Collections:06 Faculty of Arts > Institute of Political Science
06 Faculty of Arts > Center for Comparative and International Studies
Dewey Decimal Classification:320 Political science
Uncontrolled Keywords:International Climate Finance, Loss and Damage, Climate Finance Accounting, Adaptation Finance, Conference of the Parties (COP)
Language:English
Date:November 2023
Deposited On:15 Feb 2024 11:34
Last Modified:15 Feb 2024 14:55
Series Name:ÖFSE Working Paper Series
Number of Pages:15
OA Status:Green
Free access at:Official URL. An embargo period may apply.
Official URL:https://www.oefse.at/publikationen/detail/publication/show/Publication/international-climate-finance-from-a-global-perspective/
  • Content: Published Version
  • Language: English