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What Next -- Climate Watch

Climate Finance Ministerial meeting

A number of governments met in Geneva on 2-4 September 2010 to discuss climate finance. Below is a civil society statement addressing the meeting.

CLIMATE FINANCE MEETING BEGINS IN GENEVA - ENVIRONMENT AND DEVELOPMENT
ORGANISATIONS' STATEMENT


Speaking in advance of a two-day meeting on climate finance in Geneva, where discussions will focus on how to generate and channel money for developing countries to both adapt to the effects of climate change and mitigate their emissions, beginning this week (Thursday, 2 September 2010), Friends of the Earth's International Climate Campaigner Sarah-Jayne Clifton said:

"Rich countries are using carbon trading as an escape hatch from their obligations to provide public money. Governments, not markets, must direct where this money goes, and direct it to places where the private sector is unlikely to invest - the world's poorest communities, where climate change is already having a disproportionate impact, and to businesses which are at the cutting edge of developing the green energy sources of the future."

Raman Mehta, of ActionAid India, said:

"A new global climate fund should be established under the authority of the UN Framework Convention on Climate Change with equitable and balanced representation, effective participation of affected communities in all decision-making, direct access to funding by developing countries, and no economic or other policy conditionality.

"The World Bank and other existing international financial institutions must not have any role in governing, managing, or directing the design of the fund."

Elena Gerebizza, of Campagna per la Riforma della Banca Mondiale, said:

"The $100 billion figure that many developed countries are discussing is not science-based and has no standing in the international negotiations.

"Moreover, it is insufficient to ensure that developing countries have the tools
necessary to stabilize greenhouse gas emission to a level that will ensure the
survival and, moreover, the prosperity of many countries.

"Fundamentally, $100 billion is insufficient to meet the costs needed
for building climate resilient communities."

Officials from approximately 40 governments will convene for the Geneva Dialogue
on Climate Finance on September 2-3 2010. The agenda includes discussions on a
new global climate fund, the role of the private sector, and oversight of climate finance.

In advance of the meeting co-organized by Switzerland and Mexico, environment and development organizations including Friends of the Earth, ActionAid, the Institute for Policy Studies, Campagna per la Riforma della Banca Mondiale, Eurodad, Jubilee South - Asia/Pacific Movement on Debt and Development, and others are calling for discussions on climate finance to focus on how developed countries will meet their obligation to provide public finance for adaptation and mitigation, how to generate resources that truly match the scale of challenge in doing so, and how to ensure that any new climate fund is built on fair foundations.

The G77 and China have previously called for an annual financial transfer from North to South equivalent to at least 1.5% of developed countries' gross domestic product.

ENDS
Notes to editors:

1. Civil society groups launched an analysis, "Fair and Effective Climate Finance" at
http://www.ips-dc.org/reports/fair_and_effective_climate_finance and
a new website with civil society proposals on a global climate fund at www.globalclimatefund.org.

2. Civil society groups across the globe are supporting the campaign for a tax
on financial transactions - a Robin Hood Tax - to provide finance for developing countries to develop cleanly and adapt to the effects of climate change. For further information visit www.robinhoodtax.org.uk

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