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The New Framework for Climate Finance Under the United Nations Framework Convention on Climate Change: A Breakthrough or an Empty Promise?

  • Yulia YaminevaEmail author
  • Kati Kulovesi
Chapter
Part of the Ius Gentium: Comparative Perspectives on Law and Justice book series (IUSGENT, volume 21)

Abstract

In this chapter, we first show that the framework for climate finance under the United Nations Framework Convention on Climate Change (UNFCCC) has been controversial, fragmented and insufficient to meet the growing financing needs of developing countries for adaptation and mitigation. We then describe and analyze the reformed framework for climate finance under the UNFCCC. We argue that the establishment of the Green Climate Fund constitutes an important milestone and progress has also been made in other respects. However, long-standing divides and mistrust between developed and developing countries have shaped the negotiations and continue to be reflected in their outcomes (and non-outcomes). This, together with the lack of clarity over long-term sources of finance, casts shadows over the future effectiveness of the new framework.

Keywords

Global Environment Facility Small Island Develop States Climate Finance Adaptation Fund Copenhagen Accord 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer Science+Business Media Dordrecht 2013

Authors and Affiliations

  1. 1.Department of LawUniversity of Eastern FinlandJoensuuFinland

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