financements climat

Private finance has a vital role to play in the global response to climate change, but it is not a substitute for public finance.

For the past year we have all operated under the hangover of Copenhagen: the disappointment, suspicion, scepticism and disorientation. And while there was so much more that could have been accomplished at Cancun, the other side of these talks is a better place to be.

The shipping industry can do more to tackle climate change and raise billions of dollars to help poor countries cope with its devastating impact. A major meeting of the IMO – the international shipping regulators – is starting in London today.

Oxfam welcomed the launch of a new website by the Dutch Minister of the Environment today (faststartfinance.org) which aims to collect and present details about climate finance pledges from developed countries.

Progress achieved during the past two weeks at Bonn will come to nothing if developed countries don’t scale up their ambition. The mood has been more constructive but the disagreements that derailed the Copenhagen talks are still to be resolved.

The European Union has failed to provide clarity about where the €7.2 billion [1] pledged at Copenhagen for immediate climate finance needs in developing countries will come from.

Oxfam has today warned that the $100billion a year pledged by rich nations to help fight climate change could fail the poorest people, if recent moves to deliver climate cash as loans continue.

Climate change is the single greatest threat to development – making the battle to overcome poverty ever harder and more expensive.

The European Union is failing to give full details about its €7.2 billion pledge for immediate climate finance needs in developing countries. By not being fully transparent, the EU is undermining trust with developing countries.

Oxfam welcomes the new European Commission proposals for advancing climate talks. However, while the EC has highlighted emissions reduction loopholes in the Copenhagen Accord, it has ignored major loopholes on climate finance.