COP18: Developed nations must put finance cards on the table
Tim Gore , Oxfam International
From Qatar: COP18 UN Climate Change Conference 2012
COP18 (26/11/12) – Tim Gore, Policy Advisor for Oxfam International tells the Climate Change Studio that developed countries must put their cards on the table when it comes to finance. As the fast-start finance period comes to an end he voices concern that there is currently no money pledged for 2013 and warns that the amount of money offered could be going down just as it should be going up.
He says that even the $100 billion a year pledged for 2020 will not be enough and that studies have shown hundreds of billions of dollars will be needed for adaptation alone in developing countries.
He warns that developing countries need the certainty of finance to be able to make their plans for adaptation and for low carbon development.
He talks of potential innovative sources of finance, including a financial transaction tax (the Robin Hood Tax) and a tax on emissions from international aviation and shipping.
He warns that with countries failing to do enough to limit their carbon emissions, it is the $100 billion pledge which is holding the Copenhagen deal – and agreements made since 2009 – together and that countries risk unravelling such agreements if they move back on their commitments. He warns there could be fireworks by the end of the two weeks in Doha if positive steps are not taken.