Climate Finance & Development

The following visuals were developed for our Climate Finance & Fossil Fuel Subsidies campaigns

The origins of the concept of climate finance in the context of the UN climate negotiations and the UNFCCC Agreement to provide it.

Building on one of the assertions made in the Copenhagen Accord – ‘including alternative sources of finance’ – CAN Europe believes that the EU could lead a more ambitious way to increasing its climate finance support through implementing a number of measures that would generate revenues for EU governments.

Here you find a range of useful external climate finance & sustainable development resources. For all climate finance & sustainable development related CAN Europe publications, go here.

The briefing on the Financial Transaction Tax was developed in spring 2016 to give a brief overview and update on the Financial Transaction Tax and its relevance for EU climate policy after the UNFCCC international climate agreement that was made in Paris in December 2015.

At the Paris Agreement signing ceremony last week, the French President François Hollande announced that France will use Financial Transaction Tax (FTT) to increase its support for climate action in developing countries. It is a praiseworthy commitment, but the necessary funds will only be generated, if countries involved in the FTT negotiations work together to finally establish and operationalise it. Final agreement on the FTT is expected in June. Other countries should follow in

Agenda 2030, agreed in 2015 at the UN General Assembly, has anchored a set of 17 goals and associated 169 targets that will act as the successors to the Millennium Development Goals (MDGs).

Climate Finance

A key piece to the climate and sustainable development puzzle is the role of international financial support and means of implementation, which are needed to address climate crises. As the number of challenges posed by climate change grow, so must the level of support which is going to the people who are impacted.

Climate Change and sustainable development are intrinsically linked, especially in developing countries where communities are striving to protect the livelihoods and well-being of their people. Without tackling the causes and impacts of climate change, key aspects of sustainable development are severely undermined; for example, food and water security, sanitation, and resilience of human settlements. In addition, many people still lack equitable access to scarce natural resources, and safe

The gap between the need for adaptation and loss and damage finance, and the current finance provided or committed is large and growing. This briefing paper identifies a number of potential new sources of climate finance. Some of these “new” sources of finance have been under discussion for a number of years, including by the High Level Advisory Group on Finance, the Leading Group on Innovative Finance and others.

Rules for implementation of the Financial Transaction Tax, which are expected to be agreed upon by 11 EU Member States on the 7th or 8th of December, can open up a new and additional source of public climate finance. This would give a strong signal to developing countries that actions are taken to continue to increase public climate finance in a predictable way and thus smooth the path towards a new climate deal in Paris.

After six days of negotiations at the UN climate summit in Paris, the baton has been handed over to environment ministers who will begin high-level discussions this week. As anticipated, a number of troublesome issues continue to cause concern among Parties and NGOs as they work within the walls of Le Bourget conference centre. Among those issues is climate finance, an infamously controversial topic where the division between developed countries and developing countries is put under

Climate change is already affecting the world’s poorest people. From cyclones to droughts, to flooding, its impacts could set the clock back and erase the progress that has been made in the global fight against poverty and inequality.

In advance of the ECOFIN Council, Climate Action Network Europe called on the Finance Ministers to guarantee a robust
climate finance package as part of a fair and transformational agreement to be adopted at COP21 in Paris.

All eyes will be on the EU Finance Ministers meeting in Brussels on November 10th to adopt the EU position on climate finance for the Paris climate summit. According to Climate Action Network (CAN) Europe, their commitment to deliver the EU’s fair share of $100 billion of climate finance annually by 2020 and to consistently scale it up after 2020 can be the make or break issue for the Paris climate agreement.

but not all that glitters is gold. Climate Action Network (CAN) Europe welcomes the fact that global finance ministers attending the joint World Bank and International Monetary Fund summit in Lima expressed their commitment to scale up climate finance. This is an essential element for a successful global agreement on climate change in Paris.

Ahead of the UN Summit in New York 25-27 of September 2015, European Civil Society Organisations working on both international and domestic EU policies across a variety of sectors ranging from Youth, Sustainability, Social Justice, Fair Trade, International cooperation, Health, Culture, Environment, Gender Equality, Migration, Climate Change, Local Democracy, Human Rights and Media Development, wrote to the Vice-President of the European Commission to call for the EU to

Climate action needs to be enshrined in the global fight against poverty and inequality. but the Financing for Development Conference in Addis Ababa failed to build strong momentum towards fossil fuel-free economies and climate resilience, argues Maeve McLynn.