The success of low-carbon development depends on how much and what type of finance is going to be made available to support these efforts. On the 14th of October 2010, Climate Policy Initiative (CPI) and the International Center for Climate Governance (ICCG) in collaboration with the Euro-Mediterranean Centre for Climate Change (CMCC) hosted a workshop to convene key players in climate finance. The workshop provided a platform for policymakers and experts from research organizations and finance institutions active along the spectrum of public and private finance issues to initiate a concrete dialogue on climate finance.
KEY FINDINGSFour important insights emerged from the workshop:
- The international community has a very limited understanding of the effectiveness of climate finance efforts.
- Climate finance flows in many directions; domestic and “South-South” flows must be considered alongside the traditional “North-South” flows.
- Climate finance from private sources is larger than from public sources, but linking policy to private flows is difficult since the private flows are difficult to measure, track, and allocate.
- The lack of comprehensive information on all climate finance sources is an impediment to negotiation, analysis, and improvement of climate finance.