In the fifteen years since the UN Framework Convention on Climate Change entered into force, developing countries have failed to meet their commitments to setting aside additional, ongoing financial resources to help developing nations confront the impacts and costs of climate change. Additionally, there have been a series of institutional problems affecting the administration of the scant resources that have so far been gathered to address the needs of developing countries.
What should be the amount of financial resources set aside by developed countries to provide support to developing countries? How to ensure that these resources are stable and sustainable over time? What might be the structure of a new and efficient mechanism for the management and transfer of these resources? How can they be administered in a transparent, efficient, and sustainable way? Why does Copenhagen represent an insufficient proposal in terms of financing?
This working group will consider the size and source of financial resources necessary for confronting the effects of climate change in developing countries, as well as strategies for the efficient and effective management of funds aimed at mitigation, adaptation, development, transfer of technology and capacity-building in developing countries.