Finance group South calls for scaling up climate funds金融集团南呼吁扩大气候基金

Finan__ group: South calls for scaling up cli__te fundsBonn, August 12 (Meena Ra__n) - Developing co

5 www.twnside.org.sg Published by Third World Network 13 August 2009 Bonn News Update TWN Finan__group:Southcallsforscalingupcli__tefunds Bonn,August12(MeenaRa__n)- Action(AWG-LCA).Theinfor__lgroup Developingcountriescalledforthe wasfacilitatedbyAmbassadorLuiz scalingupoffinancialresour__sfrom __chadoofBrazil. developedcountriestoaddresscli__te changeundertheUnitedNations PhilippinesG77andChina speakingfor FrameworkConventiononCliamte saidthatasinthecaseoftechnology Change. transfer,agreementandandforward movementontheissueoffinancingfor TheAfricaGrouprepresentedbySouth developingcountriesiscrucialforany Africasaidthatitwouldnotbeableto agreedoutcomeinCopenhagen. ac__ptanyfinancialcommitmentwhich isnotatleast1%oftheglobalGDP, Inreferen__totheGroup'sproposalfora amountingtoabout$400billionayear newfinancialmechani__underthe forcli__tefinan__.Comparingthiswith Convention,Philippinesexplainedthe theamountsprovidedbydeveloped reasonforitsproposal.Forsolong, countriesfortheireconomicstimulus Partiesh__eprovidedinitialguidan__for packages,itsaidthatitsproposalwas thefunctioningofthefinancialmechani__. reasonableforaglobalhu__nitarian Afterthefirstreview,therewasan crisissuchascli__techange. operatingentitywhichwastheGlobal Enviro__entFacility(GEF)andPartiesh__e Otherproposalsforinnovative beenprovidingguidan__tothatthrough financingincludedtheuseofspecial theyears.TheGroup'sproposalsforanew drawingrightsforsustainable financialmechani__isfrompratical development,proposedbyIndonesia. experien__,toaddresstheproblemsthat werefound.Thisrelatesnotonlytothe Developingcountriesalsorejected issueofgovernan__,butalsothe proposalsbydevelopedcountryParties multiplicityofgovernan__outsidethe fordevelopingcountriestocontribute UNFCCC.Thisshouldbeassessedinterms tocli__tefinancing,stressingthatthis ofcoheren__butthatisanimpossibletask, wasacommitmentofdeveloped forhowcanPartiesassesstheWorldBank countriesundertheConventionto financing,?Partiesh__enotbeenableto providethefinancingneededto dothatunderthatGEF,whatmore developingcountries. institutionsliketheWorldBankwhoare outsidetheUNFCCC. Theystressedtheneedforanew financialmechani__thatwasmore IfPartiesareseriousaboutaddressing effectiveundertheConventionto thegr__ethreatofcli__techange, addresstheproblemstheyfa__dunder governan__ofthefinancialmechani__ theexistingoperatingentities. mustbeundertheauthorityofthe Conferen__ofParties.TheGrouphas Theseviewswereexpressedatasession proposedaquantumforthefinancingas oftheinfor__lgrouponfinan__on11 aper__ntage(oftheGNPofAnnex1 AugustundertheAd-hocWorking Partiesofbetween0.5%-1%).Thefinancial GrouponLong-termCooperative resour__sshouldbescaledupandmust