Preparing to Manage Climate Change Financing
Hisham Zerriffi, Liu Faculty, UBC
Milind Kandlikar, Liu Faculty, UBC
Simon Donner, Liu Faculty Affiliate, UBC
November 17, 2011
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Source: Science 18 November 2011: Vol. 334 no. 6058 pp. 908-909 DOI: 10.1126/science.1211886
At the 2010 Cancun Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), the international community agreed in principle to one of the largest development programs in history. The developed nations pledged to mobilize U.S.$100 billion per year by the year 2020 to “address the needs of developing countries” in responding to climate change (1). The funds, which may apply to adaptation and mitigation, are proposed to flow through multiple channels, including existing development banks, official development assistance, bilateral programs, international private investment flows (e.g., carbon markets), and other public and private mechanisms. Recommendations provided by a transitional committee for the management and operation of the proposed climate change financing will be considered by the parties to the UNFCCC at the upcoming conference in Durban, South Africa (2).
