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Splitting the Difference: Can Limited Coordination Achieve a Fair Distribution of the Global Climate Financing Effort?

Author

Listed:
  • Jonathan Pickering

    (Centre for Deliberative Democracy and Global Governance, University of Canberra)

  • Frank Jotzo

    (Crawford School of Public Policy, The Australian National University)

  • Peter J. Wood

    (Crawford School of Public Policy, The Australian National University)

Abstract

Mobilizing climate finance for developing countries is crucial for achieving a fair and effective global climate regime. To date developed countries retain wide discretion over their national contributions. We explore how different degrees of international coordination may influence the fairness of the global financing effort. We present quantitative scenarios for (i) the metrics used to distribute the collective effort among countries contributing funding; and (ii) the number of contributing countries. We find that an intermediate degree of coordination-combining nationally determined financing pledges with a robust international review mechanism-may reduce distortions in relative efforts as well as shortfalls in overall funding, while reflecting reasonable differences over what constitutes a fair share. Broadening the group of contributors may do little to improve adequacy or equity unless the more heterogeneous group can converge on credible measures of responsibility and capacity. The analysis highlights the importance of building common understandings about effort-sharing.

Suggested Citation

  • Jonathan Pickering & Frank Jotzo & Peter J. Wood, 2015. "Splitting the Difference: Can Limited Coordination Achieve a Fair Distribution of the Global Climate Financing Effort?," CCEP Working Papers 1504, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:een:ccepwp:1504
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    Cited by:

    1. María Victoria Román & Iñaki Arto & Alberto Ansuategi, 2018. "Why do some economies benefit more from climate finance than others? A case study on North-to-South financial flows," Economic Systems Research, Taylor & Francis Journals, vol. 30(1), pages 37-60, January.

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    More about this item

    Keywords

    Climate policy; climate finance; equity; fairness; climate change mitigation; climate change adaptation; development assistance;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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