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Green growth and equity in the context of climate change: some considerations

Green growth involves diverse processes, including conversion to low carbon energy, climate resilience and response to climate shocks. Equity implies a fair sharing of the costs, within and between countries. This working paper explores how equity has been considered in climate change discussions. It discusses per capita emission right approaches and highlights key challenges in the application of equity in global climate change negotiations. A brief overview of key approaches to carbon financing is provided, focusing on recent cost estimations of climate change impacts and projected needs for green growth programmes. It highlights the diversity of estimates and present evidence on the apparent gap between available public financing and green growth needs. The paper concludes by presenting one approach to a global Green Fund to receive assessed contributions of member countries and disburse grant and loan fund to low- and middle-income countries to pursue green growth programmes.