COP20 (08/12/14) – Tom Mitchell talks about ODI’s new report on the past decade in climate finance. He discusses the report’s key findings, emphasising that the provision of climate finance has, up until now, been far too slow. The report also finds that in many cases climate finance is getting to the right places, notably developing countries with high mitigation potential and to countries that are most vulnerable to climate impacts. However, he also stresses that there are many countries that are being left out and discusses the reasons why this is the case and how the GCF can move towards addressing these issues.
He discusses current trends in private climate finance and the need for the convention to give clear signals to markets to promote green investment. Tom goes on to talk about how the negotiations could deliver this signal and explains the virtue of having the goal of net zero incorporated into the convention.