STATEMENT BY DR. CARLOS CORREA, EXECUTIVE DIRECTOR OF THE SOUTH CENTRE, TO THE MINISTERS AND GOVERNORS MEETING OF THE INTERGOVERNMENTAL GROUP OF TWENTY-FOUR (G24)
April 2022, Virtual Meeting
The lingering COVID-19 pandemic, monetary tightening and increasing geopolitical tension have slowed down the global economic recovery. Projections for the 2022 global GDP growth have been slashed by about one percentage point by major international institutions. Together with inflation, especially spikes in food and fuel prices, and ongoing supply chain disruptions, uncertainty and fragility are looming over the two-speed world economic recovery. This has dimmed the hope to halt or reverse the trend of the rapidly increasing number of people falling into extreme poverty and suffering from hunger. While the COVID-19 virus continues to mutate, the access to vaccination continues to be a major world concern. Developing countries’ supply and financing constraints for vaccines and critical medical products must be addressed.
In view of the multiple challenges faced by developing countries, the efforts of G24 in helping to coordinate the positions of developing countries on international monetary and development finance issues remain critical. The South Centre will continue to support those efforts.
Some Key Elements for Developing Countries in Climate Change Negotiations of COP 26: Climate Finance, Article 6 Negotiations and Implications
By M. Natalia Pacheco Rodríguez and Luis Fernando Rosales
Human influence is deepening the climate crisis at an unprecedented pace. Developing countries’ economies have been hit hard by the crisis caused by COVID-19. Means of implementation are crucial for them to contribute to the achievement of the Paris Agreement goal. Developed countries must fulfill their commitments to provide US$ 100 billion per year by 2025 to climate finance. The latest years’ negotiations have shown the importance of improving the reporting methodology and the need for an agreed operational climate finance definition. In turn, Article 6 negotiations offer an opportunity to ensure higher ambition of both mitigation and adaptation through cooperative approaches while respecting the agreed balance between market and non-market approaches. What should developing countries expect on these issues at COP 26?
Malaria and Dengue: Understanding two infectious diseases affecting developing countries and their link to climate change
By Mirza Alas
Developing countries will face more complex challenges as infectious disease patterns transform due to climate change and climate variability. These challenges include how to reduce the incidence of malaria (including the significant challenge of resistant malaria), dengue, and other vector-borne and water-borne diseases that are likely to experience alterations in geographical range and lengthening of the transmission seasons due to changing temperatures and rain patterns. Climate extremes, e.g., heat and floods, are implicating the spread of climate-sensitive infectious diseases such as dengue and malaria transmitted by vectors like mosquitoes. In the context of growing financial pressure on governments due to COVID-19, the ensuing fiscal challenges may severely limit the capacity to effectively respond to health challenges in countries already affected by malaria and dengue. Other countries that have made gains in controlling vector-borne infections could also be vulnerable to rising disease burden. This research paper aims to analyze how changes in malaria and dengue pose a challenge for developing countries as they prepare mitigation and adaptation strategies for climate health. The paper will also provide some general recommendations on the importance of integration of health in national climate change strategies.
Flirting with the Private Sector: The GCF Private Sector Facility — achievements, challenges and constraints in engaging the private sector
By Rajesh Eralil, Mariama Williams and Dianyi Li
The Green Climate Fund (GCF) is committed to include the private sector as both driver and beneficiary of climate action. It envisions in particular the inclusion of not only large enterprises, but puts much emphasis on the cooperation with micro, small and medium-sized enterprises (MSMEs) in developing countries. This paper evaluates the state of play of the GCF work with the private sector and its MSMEs. It finds that the fund’s success in stimulating private sector engagement has been underwhelming and imbalanced. To begin with, only a minority of GCF projects are in fact private and a considerable amount of these projects operate through multilateral and other public institutions. GCF’s private sector projects show on top of that a strong bias towards energy access and generation, while only little funding goes to adaptation. Attempts to include MSMEs in developing countries have moreover been largely unsuccessful, although MSMEs constitute an important pillar of developing countries’ economies. It is suggested that there is a need for a bottom-up approach when dealing with the private sector in developing countries, including a more sustained and sustainable focus on MSMEs, including capacity building of MSME networks.
The State of Play of Climate Finance – UNFCCC Funds and the $100 Billion Question
By Mariama Williams; editing support and data by Rajesh Eralil
Climate finance is key to achieving the ambitions set out in the Paris Agreement as well as in fulfilling the climate actions that developing countries have proposed to implement in their Nationally Determined Contributions (NDCs), the key vehicles for implementing the agreement reached in Paris in 2015. However, there is much concern that the current flow of finance is inadequate to meet the expectations surrounding both the NDCs and the Paris Agreement. This brief presents quick snapshots of the state of play of climate finance of one dimension of the broad, complex and increasingly fragmented universe of climate finance. It focuses on the flow of climate finance that can be monitored and tracked under the United Nations Framework Convention on Climate Change (UNFCCC) in the context of the developed countries’ collective goal of mobilizing US $100 billion annually to support developing countries’ climate actions. The issues on both the demand and supply side of climate finance flows are explored, with specific attention to the ebb and flows and achievements of the multilateral public funds. After highlighting some of the more serious challenges with the flow of climate finance, the brief ends with an overview of the key negotiating issues around future climate finance flows.
Collection of Resources on Climate Finance by the South Centre
This Collection contains various types of resources ranging from analytical & research papers, step-by-step guidance documents, short policy briefs, infographics, websites and digital tools dealing with the thematic area of climate finance that are all published after 2010. These resources are curated to support decision-makers and practitioners in finding, easily and in one place, practical resources to navigate the fast-changing and complex climate finance landscape. The resources focus specifically on International Climate Finance and multilateral financing mechanisms without going into detail on climate change & sectoral issues, national (public/private) climate financing and other financing mechanisms. For each resource, a short summary is provided to give the reader a snapshot of its content along with a link to access the full resource.
This update provides a snapshot of the publications and social media activities of the South Centre during the month of November 2018.
History and Politics of Climate Change Adaptation at the United Nations Framework Convention on Climate Change
By Harjeet Singh and Indrajit Bose
This research paper provides a perspective on how climate change adaptation has progressed in the multilateral space, under the United Nations Framework Convention on Climate Change (UNFCCC). It describes adaptation and financial institutions under the climate regime and the current scope of their activities. The paper highlights the challenges that lie ahead, particularly around financing, for developing countries to adapt to a rapidly warming world and presents recommendations for the governments to accord higher priority to adaptation.