Climate Finance Flows in the SEMed Region in 2018 – Report
Developed countries have pledged to raise USD 100 billion per year by 2020 for global environmental climate action. Assisting developing countries by providing them with different types of funding is essential to helping them cope with the implications of climate change, especially in terms or vulnerability reduction and mitigation actions. During the COP25 in Madrid, concerns from developing countries related to current flows of finance, which they say is not yet high enough to meet a promised USD 100 bn per year by 2020, as well as the position of finance in the rulebook, where there are several points of dispute. Yet, developed countries do need to monitor, report, and verify (MRV) aid flows. So far, the extent to which developed countries have been providing sufficient assistance to developing countries remains unclear due to significant gaps in reporting and tracking. Negotiations and efforts have therefore been directed towards measuring, reporting, and verifying climate finance outflows from developed countries but little attention has been given to the experience of developing countries in tracking climate change-related flows.
Authors: Alexandre Borde and Tania Righi