Financing Issues on Bangkok Climate Change Conference 2018

Bogor, September 20th, 2018

Bangkok Climate Change Conference 2018 left several issues unsolved. The conference was held on 3 - 9 September 2018 whose aim to present the progress of the 2015 Paris Climate Change Agreement. This conference was aimed to discuss the guidelines for implementing the Paris Agreement. However, at the end of the event Patricia Espinosa, executive secretary for the United Nations Framework Convention on Climate Change said that there was nothing finalized."In Bangkok, there has been uneven progress on the elements of the climate change regime that countries are working towards," said Patricia

The Paris Agreement's provisions that countries need to cooperate to increase the action in order to reduce the climate change impact and to increase support the developing countries action in the form of finance, technology cooperation, and capacity-building. However, the countries have been troubled about how to measure the contribution and responsibilities of developed and developing countries.

One of the major discussion was about the climate change financing. According to The Guardian, it said that there have been notable disagreements over fair financing for the implementation of the rules regarding the reporting mechanism of the developing countries to the developed countries. On the other hands, the developed countries refused to clearly show the amount of the money they are going to provide and how it is going to be counted.

The other concern was about the announcement of US withdrawal from the Paris Agreement. This movement is believed will be weakening the international cooperation. As a remark, US was the leader of wealthy and developed countries and including countries such as Australia, Japan, and EU.

"The US has announced its withdrawal from the Paris Agreement but still negotiates as if it is a party, weakening international cooperation by not contributing to financing and technology transfer to developing countries,"Meena Raman, legal adviser at Third World Network.

 

Source: as linked in the article