IFG Report #11: Cancun Crunch Time - 48 Hours Left...
Dec. 9, 2010: IFG's Victor Menotti lays out his analysis of the endgame state-of-play at the COP16 Climate Summit in Cancun with 48 hours remaining in the meeting.
Why the World Bank must not control climate finance:
IFG convened its allies two years ago to outline how we wanted climate finance to be governed; click here to see our allies “Call for a new UN Global Climate Fund” under the authority of the UNFCCC, not the World Bank. Building this popular base—especially with social movements in developing countries— has been essential to our efforts to help educate US policymakers; we even received an official UNFCCC warning for our urgent actions in the run-up to Cancun (for which developing country delegates showed great appreciation).
While COP 16’s Cancun Agreements created a new Green Climate Fund “that is accountable to and functions under the guidance of the COP,” it also “invited” the World Bank to serve as its “interim trustee” to administer any assets of the Fund, which have yet to be defined, let alone delivered. IFG and its allies will continue to urge that climate authorities must govern climate finance, and that there is no decision-making role for the World Bank. Below is a short video of one person’s explanation why this is so important.
Brief fact sheets on issues arising in the climate negotiations in Cancun:
• Technology (pdf)
• US and International Climate Negotiations (pdf)
• Mitigation (pdf)
• Adaptation (pdf)
• Carbon Markets (pdf)
• Finance (pdf)
The goal is to connect some of the ideas and energy of the World People's Conference on Climate Change and the Rights of Mother Earth in Cochabamba with issues on the table UN climate talks. Please feel free to use these as a resource and to distribute them further. We hope you find them useful.
Dec. 1, 2010: Letter to Ambassador Stern, US Dept. of State - The Establishment of a Global Climate Fund at COP16 (pdf)