International Cooperation on Climate Change
The Ministry of Finance takes an active part in the Danish participation in the international climate negotiations. The Ministry of Finance assesses how international climate financing can be arranged appropriately and analyses the fiscal impact of international cooperation on climate pol-icy.
With the agreement at the UN climate summit in Cancun in December 2010 the developed countries for the first time officially undertook an aggregated objective for the international climate financing. With the contribution to the international climate funding, the world’s developed countries are to support climate efforts in developing countries, including the reduction of the greenhouse gases.
The developed countries reaffirmed a commitment to provide fast start funding approaching 30 billion USD in the period 2010-2012. In addition in the context of meaningful mitigation actions and transparency on implementation, the developed countries agreed on a goal of mobilizing jointly 100 billion USD yearly to address the needs of developing countries.
While there is an agreement on the aggregate goals, details on how resources must be mobilized and spent in developing countries are still pending. In this context it is the Ministry of Finance’s task to contribute to making sure that the international climate financing is arranged in the most appropriate way. The intention is to ensure that funds are provided and that they are used efficiently for the agreed purpose. The Ministry of Finance mainly contributes to this work within the EU and the UN.
For more information on the UNFCCC, see www.unfccc.int
