The Green Climate Fund gained momentum during the international climate negotiations here in Lima, Peru, surpassing the $10 billion mark and securing landmark financial commitments from both developed and developing countries. Now the race begins to assess and finance the first projects, including possibly REDD+, ahead of the Paris climate talks in December 2015.
cosystem Marketplace is right in the middle of the action in Lima, Peru this week, where, after last’s Warsaw COP, market participants are expecting a quiet year in terms of concrete decisions on forests and that’s what they’ve mostly gotten so far.
UPDATE: 13 December 2014 | 11:17 GMT-5 | A new text is reportedly circulating among the negotiating groups, but the plenary scheduled for 11pm has been postponed until after midnight. 13 December 2014 | LIMA | Peru | 1:42pm GMT-5 | Negotiators meeting under the Ad Hoc Working Group on the Durban Platform for Enhanced Action (ADP) […]
The Green Climate Fund is now within $50 million of the $10 billion goal that most observers see as the bare minimum to achieve credibility at climate talks in Lima. The fund is designed to handle roughly $100 billion in climate finance annually.
Today, Belgium helped the Green Climate Fund reach its $10 billion goal with a $60 million contribution. Because far more funds are needed to address the enormous challenge that is climate change, reaching the $10 billion mark is as much a symbolic achievement as it is financial, analysts say.
12 December 2014 | LIMA | Peru | Climate talks often come across as more complex than they are, but this morning Alden Meyer of the Union of Concerned Scientists (UCS) and Alix Mazounie of RAC France conducted the simplest, most comprehensive and posture-free press conference of the COP. If you want a clear explanation of […]
Peruvian Environment Minister Manuel Pulgar-Vidal whittled 50 pages of text down to seven on Thursday, removing all options he deemed overly prescriptive, and he did so twice: once in the morning and once at night. The first time, someone accidentally posted his proposal on the UNFCCC web site. The second time, it went up officially
While negotiators here in Lima enter their last two days of talks, Indonesia says it will be ready to begin receiving results-based payments for REDD+ by 2016. In a wide-ranging talk delivered late last night, the head of the country’s REDD+ Agency said it had not only finished its reference levels, but had implemented institutional reforms that would make REDD+ a reality.
Biodiversity and climate are intertwined in the physical realm though separate in the policy world. But during the ongoing climate COP in Lima, a diverse group of scientists and policymakers presented a declaration assessing current knowledge on connections between biodiversity vulnerabilities and climate change with the objective of increased integrated activity on the inter-linked issues.
Building on the New York Declaration on Forests, more than a dozen developing countries have thrown down the gauntlet for developed countries to support their efforts to increase the ambitions of their climate plans, paying particular attention to financing and scaling up efforts to reduce deforestation. Several developed countries say they stand ready to meet the challenge.