COP25 & COP26 Presidencies Work on Climate Finance ahead of COP26
On June 29th, the COP25 and COP26 Presidencies shared an updated plan for Informal Intersessional Work on Climate Finance Matters ahead of COP26: https://unfccc.int/sites/default/files/resource/2021-06-29%20Presidencies%20Plan%20for%20Informal%20Intersessional%20Work%20on%20Climate%20Finance%20Matters.pdf
I've highlighted some of the main points from the document below, but something to flag is that the Presidencies are initiating a lot of consultations with countries, without seeking input from observers/ CSOs. It's vulnerable communities who need access to predictable flows of climate finance. Meaning that currently CSO's only recourse is to engage with countries and hope they include our points when they have their bilaterals with the Presidencies. Excluding these communities and the local CSO groups that these communities engage with from these consultation processes is dense. CAN is the ENGO constituency under the UNFCCC, so I will see with them if they have the capacity to request that the COP Presidencies also have bilaterals with the different UNFCCC constituencies (CSOs) on these issues, or that CSOs are able to submit written positions under all of the issue points?
Key points from the text:
UK July Ministerial 25th - 26th July:
- "A representative group of ministers will have the opportunity to exchange further views on, amongst other important other climate finance topics, what a successful outcome in Glasgow would look like in relation to the deliberations on the new collective quantified goal."
Process for advancing work on climate finance
- A timeline of planned, non-exhaustive work starts on page 5.
- Presidencies will consider provisionally nominating co-facilitators to facilitate opportunities for "Parties to reach out to each other for further exchanges on climate finance, so they can better understand each other's positions, and to work through and beyond this work plan to find common ground ahead of COP 26 - recognising the unprecedented circumstances facing all Parties"
- "We will continue to take into account valid concerns about virtual work, taking steps to respond to these where possible"
- "will ensure that the informal work set out below will rotate through the time zones, so that no region disproportionately benefits or is adversely impacted"
New collective qualified goal (post-2025 climate finance):
- A lot of countries want to use COP26 to agree a timeline and process for setting the goal, presumably the COP26 Presidency will focus on this. However, during the bilaterals with the AGN they made it clear that they want these discussions to move beyond timeline and process setting, and also discuss elements on scaling-up and disbursing finance, and what finance is needed for.
- Presidencies have issued an open call for negotiating groups and Parties to have more bilaterals with the Presidencies on this topic over the course of July, taking into account points raised at the July Ministerial. Expect to have more bilaterals with countries between August and Pre-COP.
- The new name change doesn't really reflect the urgency or justice aspects. At a minimum, we could push for it to be changed to change 'qualified' to 'equitable'.
Long-term finance (LTF):
- During the SBs* a big discussion took off amongst Parties on whether the LTF work should remain an agenda item under the COP and continue after COP26 (the LTF was supposed to end in 2020); or if the elements comprising the LTF should be moved to the Art. 9.5. discussions under the CMA*.
- "The Presidencies will soon request Parties to provide further inputs in writing on this matter, with suggested guiding questions" to help address this point.
- Developing countries have indicated a preference for the LTF to remain after COP26 and not be moved to Art. 9.5. discussions as this would ensure a space for discussions on the 100billion goal to continue.
7th Review of the Financial Mechanism & Review of the Functions of the Standing Committee on Finance:
- "will facilitate an initial multilateral exchange of views between Parties on both of these issues in the week commencing 26 July 2021" with a request for more views in writing to follow.
Finance to address Loss & Damage (L&D):
- "Recognize the linkages seen by various Parties between climate finance and other topics, including inter alia issues relating to mitigation, adaptation, transparency, loss and damage, and others".
- This is only a recognition, but it's a good hook for us to continue pressing for more than just a recognition of what Parties priorities are, but also for action to take forward these concerns. If L&D isn't discussed within the scope of finance then we can argue that the Presidencies are not fulfilling the spirit of the UN process to be inclusive of all Party views.
- "Many developing country Parties cited, in particular, the importance of enhanced adaptation finance."
* CMA - Conference Meeting of the Parties to the Paris Agreement, which takes place during the same period as a COP.
*SBs - *UNFCCC's subsidiary bodies Subsidiary Body for Scientific and Technological Advice (SBSTA) and Subsidiary Body for Implementation (SBI). UN-mid year climate change conference
I haven't listed all aspects of the document, so please do add your own views on the document to this email chain.