Over in Bonn, DeSmogger Joanna Dafoe is tracking the Canadian Government Delegation at the first climate meeting since Copenhagen. On the agenda: Climate financing and the new spirit of Canadian leadership.

Canada's hot ticket to winning this weekend is through ambitious climate finance.  Any decision will follow straight from the Copenhagen fast-track climate financing commitment of $30 billion dollars for mitigation and adaptation programs in developing countries.

Canada has not yet announced how much it will contribute to this funding. In a report published by the Pembina Institute, Canada's fair share would be 3 to 4%, roughly $300 to $400 million dollars per year by the year 2010, presumably in new spending - not in existing development assistance repackaged to fit the letter, but not the spirit, of the climate finance commitment.

In a February 1st speech, Environment Minister Jim Prentice said:

The [Copenhagen] Accord’s attempt to build a sustainable bridge between developed and developing countries [is one reason] why Canada was so willing to agree to contribute our fair share to the $30-billion “quick-start” fund.  And this money will assist the poorest and most vulnerable countries with mitigation, adaptation, capacity building, and technology transfer. It is the first step towards establishing a new Green Climate Fund.

In his speech, Minister Prentice articulates the equity principles that underline these negotiations: it is the idea that wealthy countries have a greater capacity than poor countries to finance climate solutions. Minister Prentice's reference to the equity principle - which is central to the negotiations and to any tenable agreement - gives reason to hope that Canada has the will to do it's fair share.

Keep Up the Pressure!

"As Australian companies prepare to trade emissions, climate criminals are cashing in on similar schemes overseas. Interpol has warned companies to beware of bogus 'carbon credits' that fail to lower emissions. One Interpol agent said the carbon market would be irresistible to criminal gangs. 'In future, if you are running a factory and you desperately need credits to offset your emissions, there will be someone who can make that happen,' he said. 'Absolutely, organized crime will be involved.' "