We've posted an October 4 draft report of the U.N. High-level Advisory Group on Climate Change Financing (AGF). The AGF was set up by the U.N. Secretary General in February, following the global climate talks in Copenhagen, to evaluate and provide options for financing efforts to address climate change, particularly in developing countries. The AGF is expected to release a final draft in November, and present its findings at the COP 16 meeting in Cancún.
Prior to the climate talks earlier this month in Tianjin, China, IATP released a short paper outlining concerns that carbon markets are considered a reliable source for climate finance. While in Tianjin, IATP and other civil society organizations sent a letter to the AGF co-chairs expressing that the amount of climate finance being considered is not enough; public finance should be prioritized over private finance; multilateral banks should not serve as a channel for climate finance; and that carbon markets lack the necessary reliability for climate finance.
