The Role of the 2015 Agreement in Mobilising Climate Finance

Assessing Options to Increase Climate Support

“…3 In announcing the phase down of high-carbon investment, these multilateral development banks emphasise their focus on renewables and energy efficiency, indicating the shift from brown (high-carbon) to green (low-carbon) investments (World Bank, 2013;EIB, 2013;ADB, 2013;ERDB, 2014). Multilateral development banks play an important role in channelling climate finance (Kato, Ellis and Clapp, 2014a); their shift from "brown" to "green" investments would likely have a positive impact on mobilising finance for low-carbon investments.…”

“…The legal and policy context within which such a proposal is made is likely to have a considerable influence on its effectiveness in mobilising climate finance. Policies that transform enabling environments will also be needed to ensure that sufficient climate finance is mobilised to reach levels consistent with a 2°C pathway (Kato, Ellis and Clapp, 2014a).…”

The role of the 2015 agreement in enhancing adaptation to climate change

“…Institutional arrangements for adaptation have expanded over time and various adaptation-related frameworks, work streams and institutions have been established under the UNFCCC. A discussion of adaptation financing under UNFCCC funds and related institutions is available in Kato et al (2014) and Ellis et al (2015). There are also a number of UN agencies (e.g.…”

“…Assuming monitoring and evaluation is kept efficient, reporting on the implementation of NAPs could serve to strengthen the sharing of national best practices, subsequently strengthening adaptation globally. However, it may be difficult to ensure that lessons learnt are readily available to and employed by policymakers and investors in different circumstances (GEF IEO, 2013;Kato et al, 2014). Table 13 (below) provides an outline summary of characteristics of the current proposal for evolution of the NAP Process.…”