Environment Ministers consider climate adaptation funding options
Monday, 31 August 2009 15:33 | 
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An informal meeting of EU environment Ministers took place on 25 July in Sweden, in which discussions took place over a recently prepared draft report on funding of climate adaptation measures in developing countries. The Swedish Presidency has signalled its intention to make progress in this respect, noting that it is important to regain the trust of developing countries in time for the Copenhagen summit in December, so a comprehensive deal can be agreed.
With this in mind, Ministers agreed to the proposal that in the short-term $1-2 billion should be made available for developing countries, as suggested in the draft document prepared by the Swedish Presidency and the European Commission.
In addition, Ministers also considered longer term commitments, with the report suggesting that OECD countries should provide 0.7% of gross national income to help with climate protection measures through official development aid (ODA). This would represent an increase on the 0.3% that is currently being set aside by these countries, and is estimated would result in an increase of funding of $100 billion by 2015.
This proposal proved to be slightly more contentious however, with many, including leading NGOs, pointing out that the 0.7% target was one industrialised countries had already committed to under the Millennium Development Targets. The issue has therefore become whether funding for climate protection measures come from this same pot, or whether it should be additional, with the Netherlands and Denmark being two examples of countries pushing for the latter.
The draft paper also looks to deal with the problem of double-counting offset credits, which are earned from financing emission cuts in developing countries. This is the potential risk that if developed countries claim their funding efforts count towards their own targets, these should not simultaneously count towards financing emissions reductions as well.
Environment Commissioner Stavros Dimas summed up the importance of appropriate funding proposals being agreed ahead of Copenhagen, saying ‘There is a significant short-term need to help developing countries with strategies for development with reduced emissions, and measures for adaptation to a changing climate’.
With this in mind, Ministers agreed to the proposal that in the short-term $1-2 billion should be made available for developing countries, as suggested in the draft document prepared by the Swedish Presidency and the European Commission.
In addition, Ministers also considered longer term commitments, with the report suggesting that OECD countries should provide 0.7% of gross national income to help with climate protection measures through official development aid (ODA). This would represent an increase on the 0.3% that is currently being set aside by these countries, and is estimated would result in an increase of funding of $100 billion by 2015.
This proposal proved to be slightly more contentious however, with many, including leading NGOs, pointing out that the 0.7% target was one industrialised countries had already committed to under the Millennium Development Targets. The issue has therefore become whether funding for climate protection measures come from this same pot, or whether it should be additional, with the Netherlands and Denmark being two examples of countries pushing for the latter.
The draft paper also looks to deal with the problem of double-counting offset credits, which are earned from financing emission cuts in developing countries. This is the potential risk that if developed countries claim their funding efforts count towards their own targets, these should not simultaneously count towards financing emissions reductions as well.
Environment Commissioner Stavros Dimas summed up the importance of appropriate funding proposals being agreed ahead of Copenhagen, saying ‘There is a significant short-term need to help developing countries with strategies for development with reduced emissions, and measures for adaptation to a changing climate’.
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