Governments have pledged $100 billion by 2020 for climate action in developing countries and new and additional funds must be found to meet this commitment. We consider the Financial Transaction Tax a particularly relevant potential source for climate finance.
CIDSE wants to make sure that climate finance is delivered to developing countries in a timely, predictable and reliable manner. Financial support should be equally distributed between mitigation and adaptation spending. This money needs to be channeled through the Green Climate Fund of the UN, which was created at the 2011 climate summit in Durban.
CIDSE’s advocacy work on climate finance mainly focuses on the international climate negotiations at the UNFCCC, while at the EU level CIDSE is currently aiming to influence spending under the 2014-2020 Multiannual Financial Framework.