Breaking the Standoff

Breaking the Standoff

All countries must use the COP 20 Summit in Lima to resolve the impasse over climate finance and make success possible at the critical Paris talks in December 2015. In a new report, “Breaking the Standoff”, Oxfam details how current pledges are out of step with the magnitude of need in developing countries and calls on world leaders to outline a robust new strategy to boost climate finance. Developed countries promised to mobilize $100 billion per year in climate finance by 2020, but headway in mobilizing that funding has been slow.

Climate finance is fundamental to a fair and effective global climate agreement. Too few countries have delivered on their obligations. As a result the world’s poorest people have not benefitted from the necessary investment, and climate finance has been a major obstacle to achieving a global climate change agreement.

A new approach that recognizes the failings of the current regime and is better informed by needs and opportunities at the national level can break the current standoff and trigger a collaborative effort that delivers effective investment at scale in both mitigation and adaptation. This, along with ambitious emissions reduction pledges by developed countries, is key to success in the 2015 Paris climate negotiations.

Publication Date: 
December 2014
Publication Author: 
Oxfam International