COP18: More climate finance needed for adaptation

COP18 (03/12/12) – Emilie Johann, Policy and Advocacy Officer, CIDSE talks about climate finance and the need to raise $100 billion per year by 2020.

She says that this amount is not enough but is a first step. She says they want the full $100 to be met by public sources only, and then other funding could be found through other sources, including the private sector.

She says there are options available for this money, including a financial transaction tax, and Johann calls for the 12 states in the EU who are planning implement such as tax to pledge 25% of the money raised for climate finance.

She stresses that as well as finance, countries need to strengthen the way they monitor and report the money pledged to ensure it is going where it is most needed. She says more money must go for adaptation.