Kennes, W. 2015. Climate finance in developing countries - Reconciling the different views. (Briefing Note 85). Maastricht: ECDPM.
In order to reach a global climate agreement that can be fully supported by poor developing countries it is essential to foresee an adequate arrangement for climate finance. This was already acknowledged at the 2009 COP15 in Copenhagen where industrial countries pledged to provide from 2020 onwards US$ 100 billion each year.
As long as Official Development Assistance (ODA) levels are rising towards the target of 0.7% it is feasible to achieve the commitments on climate finance in a way that is not at the expense of existing development finance.
Innovative finance should complement ODA and help to achieve more equitable climate funding. Innovative finance at the global level would be ideal to generate resources for the new Green Climate Fund.
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