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Geneva Dialogue on Climate Finance leads to New Climate Finance Website

arton2972On 2-3 September, ministers and government representatives from 46 countries, as well as the Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Ms. Christiana Figueres and the Chair of the Ad Hoc Working Group on Long-term Cooperative Action (AWG-LCA) Ms. Margaret Mukahanana-Sangarwe gathered in Geneva to attend the informal “Geneva Dialogue on Climate Finance.” The aim of this dialogue was to facilitate the ongoing climate change negotiations on climate financing in order to contribute towards a successful outcome at the UN Climate Change Conference in Canc�n (COP 16), to be held from 29 November to 10 December 2010.

In her address, Christiana Figueres underlined that short-term financing is the "golden key" to an outcome in Canc�n, while long-term financing is the "golden key" to real and tangible climate change action across the globe.

Also other participants highlighted that it is crucial to guarantee sufficient short–term as well as long-term financial resources for developing countries to address climate change. As such, they discussed the potential finance architecture; the establishment of a new climate fund that should ensure extraordinary, predictable and sufficient financing; other sources for long-term finance as well as the role of the private sector.

For a more detailed report on the “Geneva Dialogue on Climate Finance,” read the Summary Report, published by the International Institute for Sustainable Development (IISD) in collaboration with the Swiss Federal Office for the Environment (FOEN).

On behalf of Colombia, Costa Rica, Denmark, Germany, Indonesia, the Marshall Islands, Mexico, Norway, the United Kingdom and Vietnam, Tineke Huizinga, Dutch minister of the Environment and Spatial Planning launched a new climate finance website: www.faststartfinance.org. The website is intended to provide transparency about the origin, amount, and use of short-term climate change funding, pledged by developed countries to support developing countries in their fight against climate change. The website will be serviced by the United Nations Development Programme (UNDP) in close consultation with the World Bank and the United Nations Environment Programme (UNEP) ) as well as other UN agencies, including the UNFCCC secretariat. Ms. Huizinga called upon other countries to give more openness about their climate finance pledges and commitments, and to publish the information on the website.

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