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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 [email protected] Earth. Venus. -36 m. The Mediterranean Today.

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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

[email protected]


Earth

Venus



The Mediterranean Today

Source: GoogleEarth


The Mediterranean15 000 years ago

.

-5 °C compared to today average temperature

Source: France 2 Malaterre



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


World Greenhouse Gas Emissions

14%

CH4

8%

N2O

F Gas

1%

CO2

From

Combustion

CO2

From

LUCF

59%

18%


Greenhouse gas emissions in the Arab States

CH4

N2O

CO2

From

Combustion

CO2

From

LUCF

Source: CAIT WRI



All sectors and regions have the potential to contribute
All sectors and regions have the potential to contribute

Note: estimates don’t include non-technical options such as lifestyle changes


1

2

3

4

Trend in Green House Gases

Behavior & Waste

Efficiency

Renewable Energy

REDD & Sequestration

Low Carbon Path


Contribution of technology wedges
Contribution of Technology Wedges

Baseline Emissions 62 Gt

BLUE Map Emissions 14 Gt



Policies & barriers Change:

Incentives

Carbon finance

Research, development , demonstration

GEF, ODA

FiTs, taxes, loans, CDM

PoAs, sectoral crediting

Technology transfer



2. Knowledge & understanding markets

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


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


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


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)


UNDP’s message to National Government: condition future financial mechanism

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…


Multi donor trust fund as a national instrument comparing 3 possible formats
Multi Donor Trust Fund as a national instrument condition future financial mechanism Comparing 3 possible formats

UNDP MDTF Office web-site: http://mdtf.undp.org/


Multi donor trust fund as a national instrument comparing 3 possible formats1
Multi Donor Trust Fund as a national instrument: condition future financial mechanismComparing 3 possible formats

UNDP MDTF Office web-site: http://mdtf.undp.org/


As Climate Changes, Can We? condition future financial mechanism

Kofi Annan, UN SGWednesday, November 8, 2006


A condition future financial mechanism


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