When the dust settled after the near failure of the UNFCCC climate talks in Copenhagen, the issue of climate finance seemed strangely to have been one of the few areas where, despite all procedural and political misgivings, real progress was made. The 'Copenhagen Accord' gives some clear promises and numbers for both short‐ and long‐term financial support by wealthier countries for developing countries - especially the most vulnerable - to deal with climate change. It pledges US$10 billion per year from 2010‐2012 with the promise to increase to US$100 billion per year starting in 2020. However, as the Accord is a non-binding political agreement, many questions about if and how those commitments can be fulfilled are yet to be answered. This report looks at the short-term, long-term and alternative financing solutions proposed by the Copenhagen Accord.
Liane Schalatek, Neil Bird and Jessica Brown