PROJECT: Making the most of climate finance
The United Nations’ High-Level Advisory Group on Climate Change Finance (AGF) was set up in February 2010 to identify how industrialised countries could mobilise US$100 billion of resources per annum by 2020, to support climate-resilient development in the developing world. The Group consisted of 21 members, from the public and private sectors and from the developed and developing worlds. It was co-chaired by the Meles Zenawi, Prime Minister of Ethiopia, and Jens Stoltenberg, Prime Minister of Norway.
Working through most of 2010, it has analysed a wide range of options for raising this money from both public and private sources. The AGF reported in November 2010 that reaching the goal of US$100 billion was challenging but feasible.
Turning the AGF recommendations into tangible flows of new finance will require political leadership at a senior level. AGF members asked CDKN to help developing country decision-makers to respond to the AGF’s recommendations. CDKN supported climate finance experts at Vivid Economics to prepare reports on the opportunities and challenges presented by the AGF’s findings to countries in Asia, Africa, Latin America and the Caribbean, and Small Island Developing States.