Ségolène Royal and Michel Sapin welcome the publication of the roadmap towards 100 billion dollars
Ségolène Royal, president of the COP21, has received the OECD report on climate financing projections. Together with Michel Sapin, French Finance Minister, she is delighted with the publication of the roadmap of developed countries for the mobilisation of 100 billion dollars per year in climate financing for developing countries by 2020.
- In 2009 in Copenhagen, the developed countries committed to mobilising 100 billion dollars per year in climate funding - from various public and private financing sources - for developing countries by 2020.
- During the Paris Conference, and thanks to the impetus of the French presidency of the COP21, major financial announcements were made by numerous developed countries and international financial institutions. The French president had thereby announced an increase in France's climate funding from around 3 billion euros in 2015 to 5 billion euros in 2020, including 1 billion for the financing of adaptation to climate change.
- In order to ensure the realisation of these commitments, the COP21 asked the developed countries to devise a roadmap showing their commitment towards respecting the objective of 100 billion dollars per year by 2020.
- The publication of the roadmap today, less than a year after the COP21 and prior to the COP22, demonstrates the mobilisation and desire of the developed countries to respect their commitments and to, as quickly as possible, provide developing countries with an indication of the amount of financing that should be mobilised in 2020.
This roadmap is based on analysis and projections carried out by the OECD that allow, in particular :
- to establish that at least 67 billion dollars in public financing, from bilateral and multilateral sources, will be available in 2020: an increase of 26 billion dollars compared to 2013-2014 levels;
- to show that, if the mobilisation effects on private climate financing by public climate funding are identical to those of 2013-2014, over 90 billion dollars of climate funding - public and private - should be mobilised in 2020;
- with regard to adaptation funding, dedicated public financing should double by 2020 compared to 2013-2014.
- These positive results confirm the dynamic resulting from the COP21, which was reinforced by the rapid entry into force of the Paris Agreement. They will need to continue in order to attain, or even exceed, the target of 100 billion dollars. The roadmap provides details of the actions that the developed countries will put in place in order to respect their commitments. In particular, it will be essential to continue with the increase in public climate financing and to improve the mobilisation of private climate financing.