At the climate-change summit in Copenhagen last December, political leaders expressed a strong will to urgently combat global warming. As we approach the next climate-change summit in Cancún, Mexico, this December, the international community must deliver concrete results and move forward to address the challenge.
Finance is a key ingredient of the global response to climate change. In this regard, at the Copenhagen summit developed countries committed themselves to the goal of jointly mobilizing $100 billion annually by 2020 to address the needs of developing countries. These funds would be transferred to developing countries in the context of meaningful – and transparently implemented – mitigation measures taken on their behalf.
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