Climate change funds separate climate from development largely because the international community has already set aside a certain amount of money for development. Though the amount is rarely delivered on, economically advanced countries still continue to affirm their commitment to the 0.7 percent target set by the U.N. General Assembly.
And so, when developed countries came together in 2009 and first committed $100 billion each year by 2020 for climate change adaptation and mitigation initiatives, some argued that the money should be new.
For some projects, separating the two is simple.
Most mitigation initiatives — such as renewable energy — fall clearly under the climate heading. One can quantify precisely how much a solar or geothermal project results in reduced or avoided emissions that would have otherwise accumulated due to the use of dirty energy sources like coal and oil.
But making the green funding argument for adaptation projects can be tricky when so much of it touches upon development.
It all boils down to context. In some situations where the development baseline of a country or a community is so low, making the distinction between climate and development hardly matters: Any measures that will improve their wealth will improve their adaptive capacity.
Read the full article on green climate funds by Fatima Arkin at Devex International Development
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