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Financial Mechanisms to address Climate Change

Financial Mechanisms to address Climate Change. Arab Climate Resilient Initiative “Towards Sustainable Energy – Resources, Challenges & Opportunities” Manama, Kingdom of Bahrain Benoit Lebot UNDP Climate Change Advisor Benoit.lebot@undp.org. Earth. Venus. -36 m. The Mediterranean Today.

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Financial Mechanisms to address Climate Change

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  1. Financial Mechanisms to address Climate Change Arab Climate Resilient Initiative “Towards Sustainable Energy – Resources, Challenges & Opportunities” Manama, Kingdom of Bahrain Benoit Lebot UNDP Climate Change Advisor Benoit.lebot@undp.org

  2. Earth Venus

  3. -36 m

  4. The Mediterranean Today Source: GoogleEarth

  5. The Mediterranean15 000 years ago . -5 °C compared to today average temperature Source: France 2 Malaterre

  6. http://hdr.undp.org

  7. UNDP HDR Objective for 2050: • In the north, - 80% in emissions CO2/Cap/year North 16.1 tCO2eq/Cap • In the south, - 20% in emissions Arab States 9 tCO2eq/Cap 2050 Target 50% Global Emissions Today World Average South 4.2 tCO2eq/Cap 2050 2007 2020

  8. World Greenhouse Gas Emissions 14% CH4 8% N2O F Gas 1% CO2 From Combustion CO2 From LUCF 59% 18%

  9. Greenhouse gas emissions in the Arab States CH4 N2O CO2 From Combustion CO2 From LUCF Source: CAIT WRI

  10. Source: IPCC AR4, Synthesis Report (shares are for 2004)

  11. All sectors and regions have the potential to contribute Note: estimates don’t include non-technical options such as lifestyle changes

  12. 1 2 3 4 Trend in Green House Gases Behavior & Waste Efficiency Renewable Energy REDD & Sequestration Low Carbon Path

  13. Contribution of Technology Wedges Baseline Emissions 62 Gt BLUE Map Emissions 14 Gt

  14. We are not short of Financial Instruments to address Climate Change:

  15. Policies & barriers Incentives Carbon finance Research, development , demonstration GEF, ODA FiTs, taxes, loans, CDM PoAs, sectoral crediting Technology transfer

  16. Rating, Labeling, Benchmarking apply to a large number of markets

  17. 2. Knowledge & understanding 6 Steps to move towards a low carbon economy 1. Set Right Price Signal $ 3 .Rating & Benchmarking 5. Set Standards 4. Research & Development 6. DSM, $ incentives, CDM…. R&D A B C D E F G 50% 45% 40% 35% 30% Percentage of Market 25% 20% 15% 10% 5% 0% High Carbon Footprint Low Carbon Footprint

  18. Key operational provisions for development from the Copenhagen Accord: • $30bn pledged by developed countriesbetween 2010 & 2012 for mitigation and adaptation inclusive. • New and additional • Priority access for SIDS, LDCs, Africa. • 2020 Target : $100bn/year • “in the context of meaningful mitigation actions and transparency” • Come from a wider variety of sources • Creation of Copenhagen Green Climate Fund (CGCF) as an operating entity of the financial mechanism • GEF no longer only operating entity • Support all main Bali Road Map areas

  19. Key operational provisions for development from the Copenhagen Accord: • 4. Creation of a Technology Mechanism in support of mitigation and adaptation • Country-driven and based on national priorities • Establishment of a forestry mechanism around REDD+ • Monitoring, Reporting & Verification (MRV) of actions and financial flows

  20. National Appropriate Mitigation Actions (NAMAs) may condition future financial mechanism • Developing countries invited to develop low emission development strategies that include NAMAs • Developed countries will provide financing, capacity building and technology for some NAMAs, although the means for deciding which is unclear • Supported NAMAs will likely be internationally recorded in a registry, and their implementation monitored, reviewed, and verified (MRV)

  21. UNDP’s message to National Government: Let’s get ready for any future financial mechanism • Green Fund will not be a silver bullet • National coordination is essential for governments to access, coordinate, sequence & combine climate finance (e.g. MDCFs next slide) • National Strategies can guide the flow of funds: • => National Communications to UNFCCC, TNA, NAMA, NAPA, IF&F…

  22. Multi Donor Trust Fund as a national instrument Comparing 3 possible formats UNDP MDTF Office web-site: http://mdtf.undp.org/

  23. Multi Donor Trust Fund as a national instrument: Comparing 3 possible formats UNDP MDTF Office web-site: http://mdtf.undp.org/

  24. As Climate Changes, Can We? Kofi Annan, UN SGWednesday, November 8, 2006

  25. A

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