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!