Financing the implementation of an international global warming agreement

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Learn more from the Center for Media and Democracy's research on climate change.

The Bali Action Plan adopted at the conclusion of the COP13 conference on global warming included a commitment to negotiate on four key pillars to a successor agreement to the Kyoto Protocol. One of these four, other than the development of a shared vision, was to identify ways of financing the implementation of an international global warming agreement.[1]:

Plan Provisions

The plan states that countries will commit to "Enhanced action on the provision of financial resources and investment to support action on mitigation and adaptation and technology cooperation" including":

(i)"Improved access to adequate, predictable and sustainable financial resources and financial and technical support, and the provision of new and additional resources, including official and concessional funding for developing country Parties;
(ii) "Positive incentives for developing country Parties for the enhanced implementation of national mitigation strategies and adaptation action;"
(iii) "Innovative means of funding to assist developing country Parties that are particularly vulnerable to the adverse impacts of climate change in meeting the cost of adaptation;"
(iv) Means to incentivize the implementation of adaptation actions on the basis of sustainable development policies;"
(v) "Mobilization of public- and private-sector funding and investment, including facilitation of climate-friendly investment choices;" and
(vi) "Financial and technical support for capacity-building in the assessment of the costs of adaptation in developing countries, in particular the most vulnerable ones, to aid in determining their financial needs."

The other three key pillars of a successor agreement to the Kyoto Protocol were agreed as being[1]:

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  1. 1.0 1.1 United Nations Framework Convention on Climate Change, "Report of the Conference of the Parties on its thirteenth session, held in Bali from 3 to 15 December 2007: Addendum", United Nations Framework Convention on Climate Change, March 14, 2008, pages 3-6.

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