21 Pages


Access to finance is frequently cited as one of the key requirements for addressing climate change. Commitments to financing were central to the Bali Action Plan adopted at COP-13. The heart of the agreement, expressed in Paragraph 1(b), conditions 'nationally appropriate mitigation actions by developing country Parties' on the provision of 'technology, financing and capacity-building'. The importance of com m itm ents to financial assistance, investm ent and technology transfer to developing countries is emphasized in the follow ing paragraphs, w hich identify some of the expectations to be addressed during the negotiating process to go on until COP-15 in Copenhagen. Resources should be additional, adequate, predictable and sustainable; 'positive incentives' should be created for developing-country im plem entation of m itigation strategies; innovative means of funding for m eeting the costs of adaptation by particularly vulnerable countries; public-and private-sector funding and investm ent should be mobilized (Para. 1(e)).