Mobilizando a Finança Climática Internacional

Developed countries report that they mobilised US$35 billion for climate change in developing countries from 2010 through 2012, exceeding their target of US$30 billion. But not all of this funding is new or additional. Developed countries have had discretion to choose what “counts” as climate finance, and have taken divergent approaches.

One objective of fast-start finance was to increase funding for adaptation. While adaptation received $5 billion, mitigation (including initiatives to address emissions from forests) received $22.1 billion, more than 70% of the total funding.

Forty-eight per cent comprises loans, guarantees and insurance, including export-credit finance for developed country companies to invest in developing countries. These instruments, in particular, have tended to support mitigation.

Eighty per cent of FSF was also reported as official development assistance (ODA), and the geographic distribution of fast-start finance closely mirrors that of non-climate-related ODA. Fast-start finance is not highly correlated with either total GHG emissions or vulnerability in recipient countries.

Continued commitment to scaling up climate finance is needed. But to make good use of available finance, developing countries will also need to take the initiative to implement sound strategies for using this finance. They will need to align their policy, regulatory and governance arrangements with climate-compatible development.

Improved transparency on climate finance in both developed and developing countries will promote understanding of whether countries are meeting their commitments to deliver climate finance in a spirit of mutual accountability, and whether funding is being used effectively.