Although there has been significant growth in climate finance in the last decade, developed countries still struggle to meet the goal of raising USD 100 billion annually as decided at the 2009 COP15 meeting in Copenhagen. Beyond issues of quantity, concerns persist regarding a potential financing gap—such that accrued resources do not flow to projects which require them most—and the continued favouring of mitigation efforts over adaptation projects. Furthermore, the lack of consensus on a universal standard for defining, categorising, and accounting for climate finance limits possibilities for meaningful comparison between developed state contributions and hampers effective allocation of resources to critical sectors or regions. The need for collective action by states, international organisations, and private actors to address climate challenges remains pressing, raising important questions of how the world should proceed. #LSEGEGC #LSEGlobalGovernance
Our panel discussed:
- Are the developments regarding Loss and Damage financing at the latest COP27 indicative of increased global support for environmental responsibility and a greater commitment among developed nations towards meeting the demands of climate finance?
- Given the significant variation in wealth and capacities within the categories of “developed” and “developing” countries, do we need to develop new ways of classifying and broadening the group of donor countries to encourage more global financial involvement? Would such a broadening risk undermining efficiency?
- What lessons might existing initiatives such as the Green Climate Fund have for planned initiatives such as the Loss and Damage Fund? Can existing multilateral institutions such as the World Bank and the IMF be more geared toward enhancing the volume and efficiency of climate financing?
- Will increased geopolitical competition provide greater incentive for individual great powers to spearhead climate finance efforts or will the increasing desire to decouple economically increase the cost of coordinating a global response to climate issues?
Speakers:
🔴 Ambassador Patricia Espinosa
🔴 Dr Sandeep Sengupta
Chair:
🔴 Professor Robert Falkner
ℹ️ More info: [ Ссылка ]
