Estimating international mitigation finance needs: a top-down perspective
This discussion brief reviews and distils the findings of key global studies that have sought to gauge mitigation finance requirements. In the run-up to the UN Climate Change Conference (COP20) in Lima, Peru, several countries have made substantial pledges to the Green Climate Fund, which is expected to become a primary channel for international finance for mitigation and adaptation in developing countries. By most estimates, however, current and pledged climate finance falls far short of what is needed, particularly if emissions are to be kept at levels consistent with a warming trajectory of no more than 2°C.