IEEP report on financial support to developing countries

Citation

(2009), "IEEP report on financial support to developing countries", International Journal of Climate Change Strategies and Management, Vol. 1 No. 4. https://doi.org/10.1108/ijccsm.2009.41401dag.001

IEEP report on financial support to developing countries

Article Type: News from the net From: International Journal of Climate Change Strategies and Management, Volume 1, Issue 4

IEEP has published on the net the results of an analysis of the extent to which the EU (and its then 15 member states) have fulfilled the solemn promises made to developing countries in the so-called “Bonn Declaration” of July 23, 2001.

Eight years ago the EU-15 together with five other OECD donor countries (Canada, New Zealand, Norway, Iceland, and Switzerland) made a “strong political commitment” to raise US$410 million a year from 2005 to help developing countries tackle climate change, and to review this pledge in 2008. These parties to the UNFCCC agreed to provide additional funds in a number of ways: through contributions to the Global Environment Facility, through other multilateral and bilateral aid channels, and through three new climate change funds established under the Bonn/Marrakech agreements to provide financial assistance to developing countries, in particular to help cover their adaptation needs.

IEEP undertook a detailed analysis of the levels of aid channeled through these different means for each of the EU signatories to the Bonn Declaration. Results show that whilst the EU-15 may, overall, have fulfilled their commitments under that declaration, the data published by Member States is far from conclusive and the quality of reporting does not allow full independent verification of the amount of aid provided. Further information on the study and results reached can be seen at web site: www.ieep.eu/newsletter/newsletter4.php