South Centre Analytical Note - January 2009

This Analytical Note looks at the level and delivery vehicles of public financing for climate change actions in developing countries from developed country Parties of the UN Framework Convention on Climate Change (i.e. the Parties listed in Annex I of the Convention). It argues that such public financing from Annex I Parties as is available falls far short of what is needed, shows preference for non-UNFCCC delivery vehicles, and is essentially double-counted as compliance by these Annex I Parties with their official development assistance (ODA) and climate financing commitments. It concludes that existing modalities under which climate financing is being provided by developed countries have the effect of weakening the UNFCCC in terms of its role as a catalyst and vehicle for climate financing that is consistent with and supports theobjectives of the UNFCCC.

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