Climate Finance after the Paris Agreement. New directions or more of the same?
Paula Castro/Carola Betzold
May 2016; 4 pages
In December 2015, a new climate agreement was delivered in Paris. In substantial terms, it managed to break the over 20-year old strict separation of the world into developed (“Annex I”) and developing (“non-Annex I”) countries in terms of their mitigation commitments, and marked a paradigm change from the Kyoto-Protocol-style top-down mandatory absolute emission reduction targets to a more bottom-up system of voluntary pledges of diverse types. Climate finance has remained a crucial component of the agreement.
In the Global Governance Spotlight 3|2016, Dr Paula Castro and Dr Carola Betzold discuss where the Paris Summit has moved forward regarding climate finance – if it did move forward at all. They focus on three central issues: the overall volume of climate finance, its sources and its distribution. Further, they give recommendations how to make climate finance commitments credible.