Perspectives on Climate Finance Governance
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Abstract
Climate change finance was introduced at the global level under the auspices of the United Nation Framework convention on climate change (UNFCCC) to enable countries in the Global South to address climate change through programmes and projects that would help to mitigate and adapt to climate change. The finances are channeled through a number of conduits including a Multilateral framework (Multilateral Banks I.e. Asian Development Bank, European Bank, Africa Development Bank, World Bank et cetera, Multilateral institutions i.e. UN agencies) and a Bilateral framework (like Government to Government, Bilateral institutions like USAID, AusAID, SIDA, CIDA etcetera)...... The above introduction of this discussion paper leads further to more discussions and insights on a number of processes and systems and the state of their working including perceptions and views by different writers qualifying or critiquing the entire discourse of climate finance governance in view of Global South-North relations.
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Key takeaways
- limate change finance was introduced at the global level under the auspices of the United Nation Framework convention on climate change (UNFCCC) to enable countries in the Global South to address climate change through programmes and projects that would help to mitigate and adapt to climate change.
- Climate finance provided by developed countries was also to be captured in the formed registry.
- Participants also pointed to difficulties in tracking climate finance for projects with multiple objectives and discussed the need to address the effectiveness of climate finance for addressing climate change 9 .
- In her strategic framework for Development and climate change, the World Bank introduced the concept of Green Bonds as an innovative approach to financing climate change adaptation initiatives.
- Indeed the concept of climate finance is geared towards addressing the set goal which is to mitigate and help the developing countries mitigate the adverse effects of climate change.
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