Journal article
Post-2025 climate finance target: how much more and how much better?
- Abstract:
- Formal deliberations for the new collective quantified goal on climate finance began at COP26 in Glasgow. This Perspectives article aims to inform this process by discussing the potential size and nature of is post-2025 target. We argue that the climate finance system around the current target to mobilise US$100 billion per year to support developing countries has been fraught with difficulties, and that it would be ineffective to simply increase the climate finance target without addressing these difficulties. Therefore, we identify and discuss five priority elements for negotiations: the relation to Article 2.1(c) of the Paris Agreement; the adaptation-mitigation balance; financial instruments; mobilising private finance; and ‘new and additional’ finance. To increase transparency, accountability, and trust in climate finance under the UNFCCC and to simultaneously allow for the mobilisation of finance at scale, we suggest setting a sub-target for grants. In combination with additional (sub)target(s), this could define an overall new collective quantified goal that is better suited to serve the challenging dual role of mobilising finance at scale and transferring resources to developing countries.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
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(Preview, Version of record, pdf, 2.5MB, Terms of use)
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- Publisher copy:
- 10.1080/14693062.2022.2114985
Authors
- Publisher:
- Taylor and Francis
- Journal:
- Climate Policy More from this journal
- Volume:
- 22
- Issue:
- 9-10
- Pages:
- 1241-1251
- Publication date:
- 2022-09-11
- Acceptance date:
- 2022-07-04
- DOI:
- EISSN:
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1752-7457
- ISSN:
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1469-3062
- Language:
-
English
- Keywords:
- Pubs id:
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1280363
- Local pid:
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pubs:1280363
- Deposit date:
-
2022-09-30
- ARK identifier:
Terms of use
- Copyright holder:
- Pauw et al.
- Copyright date:
- 2022
- Rights statement:
- © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons. org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way
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