Advisory Group on Financing Panel says the Target of $100 Billion Climate Aid by 2020 is “Feasible”

I attended the side event yesterday where the authors of the High-Level Advisory Group on Financing (AGF) discussed their report, which came out about a month ago. The co-chairs (Presidents Stoltenberg of Norway and Zenawi of Ethiopia) were both present, as was UN Sec. Gen. Moon. That report said the goal set by Copenhagen Accord of 100 billion dollars annually by 2020 can be met by grants, concessional development bank loans, carbon market finance, etc. At the panel, some examples were pointed out, among them reallocating aid money now subsidizing fossil fuels, which was said to potentially net $10 billion. They cast the report as a “tool-box ” of financing options. They said it was up to the states’ parties at the COP to find a way to use the tools, and which to use more frequently and such. They said that the real achievement of the AGF was that a diverse group of world-class experts, from developing and developed countries, had agreed on the report, and that this was a model for the COP. The real results are being accomplished, or not, by the negotiators in closed session right now.

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2 Comments

  1. god zilla
    Posted December 9, 2010 at 8:43 pm | Permalink

    link to the report?

  2. danatcop16
    Posted December 9, 2010 at 9:14 pm | Permalink

    Try here for the report:

    http://www.un.org/wcm/webdav/site/climatechange/shared/Documents/AGF_reports/AGF_Final_Report.pdf

    1) public sources for grants and highly concessional loans
    2) development bank-type instruments
    3) carbon market finance, and
    4) private capital

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