A new policy brief by Imran Habib Ahmad of the UN’s Development Policy & Analysis division draws the following conclusions:
* Conservative estimates peg total developing-country financing needs for mitigation and adaptation at about $250 billion per year. This would be on the order of 0.5 to 1 per cent of world gross product by 2030;
* Current available bilateral and multi-lateral aid is in the order of $10-20 billion, with perhaps $5 billion more in the pike from current proposals;
* Funding for adaptation and mitigation programs must not be voluntary but tied to agreed long-term commitments, based e.g. on pro rata mechanisms (such as levied percentages of financial flows,
mandatory contributions in relation to GDP). Specific options should be considered include include taxes on capital flows or on international transport, energy use or emissions, or volumes of transactions in
carbon markets, and permit auctioning.
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Filed under: Climate Change Law