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ODI-Reforming Climate Change Finance

ODI-Reforming Climate Change Finance

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Policy Brief
Policy Brief

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Categories:Types, Research
Published by: Climate Himalaya Initiative on Aug 21, 2010
Copyright:Attribution Non-commercial


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Overseas DevelopmentInstitute
‘ODI esimates that,o the $19 billionpledged to date,$2 billion hasbeen depositedinto dedicatedclimate unds,with only $700million disbursed’
hen the dust settled ater thenear ailure o the UNFCCC cli-mate talks in Copenhagen inDecember, the issue o climate nanceseemed, strangely enough, to have beenone o the ew areas where real progresswas made.The Copenhagen Accord gives clear promises or both short- and long-termnancial support by wealthier countriesor developing countries, especially themost vulnerable, to deal with climatechange. It pledges $10 billion per year rom 2010-2012 with the promise toincrease this to $100 billion per year starting in 2020. However, as the Accordis a non-binding political agreement, itraises questions about i and how thesecommitments can be ullled. There areconcerns that these political pledges willollow the same path as earlier promisesover aid – and will remain unmet.ODI estimates that, o the $19 billionpledged to date, $2 billion has beendeposited into dedicated climate unds,with only $700 million disbursed so ar (Figure 1, overlea). The proposed trajec-tory o increase in international publicnance represents a daunting challengeor the next decade. Yet this money isnecessary i climate change is to be tack-led, otherwise there is the danger thatexisting hard won gains in developmentwill be lost.Numerous initiatives to generateinternational public unding or climatechange already exist. A plethora o arrangements have been set up over the last two years: at the last count 21separate climate nance initiatives arenow underway, leading to considerableragmentation o eort. Rather than con-solidating, the list appears to be gettinglonger.What this means at the point o deliv-ery is a myriad o diering administrativearrangements or national governments.Little appears to have been learned romthe experience o making developmentcooperation more eective throughdonor harmonisation. Experience withdevelopment assistance also suggests
Reorming climatechange nance
Policy brief 
May 2010
Key points
International climate nance is neither transparent nor accountable
Climate nance is highly ragmented leading to duplication andineciency
Climate nance is not getting to the countries most in need
Overseas Development Institute
ODI is the UK’s leading independent think tank oninternational development andhumanitarian issues.
ODI publications 
presentinformation, analysis and keypolicy recommendations onimportant development andhumanitarian topics. All ODIpublications are available fromwww.odi.org.uk 

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