A clear deal on climate finance is paramount to the complex structure of a new global agreement on climate change. It would facilitate effective action on adaption and help emerging economies to take on mitigation commitments, yet there remains a significant gap between the global goal of USD 100 billion per year to support mitigation and adaptation and the actual pledges by countries. This LRI briefing paper offers some proposals for binding provisions in a new legal instrument. It touches on compliance and enforcement, but mainly focuses on textual options that clearly signify parties’ intention to enter into legally binding commitments. The authors do not advocate any particular solution or amount, and there are numerous other possible approaches.
FC Publication Date:
22 July 2014