For this year s climate conference in Cancun, the international community generally do not hold high expectations, the biggest appeal is nothing more than the individual issues in a breakthrough. The climate problem of financing, the parties hope to become the highest individual topics one of the breakthrough point. Expect the parties to negotiations on long term climate fund management structure, coverage, size and funding sources of financing to reach a consensus, at least in the final agreement next year.
Over the years, funding has been hindered one of the key issues of climate negotiations. Cancun, in the November 29 opening of the Congress, the Group of 77 and China, the spokesman, the Ambassador of Yemen, said Abdullah al Assad to Cancun General Assembly needs of the most important result is that money issues, including create a new fund and its management This requires the formation of the decision in four areas, including architecture, scope, scale and source.
Last year s Copenhagen OK, the developed countries in 2010 and 2012 a total of 30 billion U.S. dollars Quick Start funds, from 2013 to 2020 annually 100 billion U.S. dollars to establish the climate funds. Conference in Cancun, to develop appropriate funding mechanisms, the establishment of the underlying funds as soon as possible to become a top priority.
However, funding problems, the current differences between developed and developing countries there is still not small. From the current point of view, Parties, international institutions and economists have proposed a number of options.
Convened by UN Secretary General Ban Ki moon which the financing consultants proposed that in the current world already heavily indebted countries, especially developed countries, the case for the new group to levy new taxes, not only can not increase the burden on taxpayers, but also to meet future capital needs. The program includes new taxes may be imposed financial transactions tax, shipping and shipping to international taxation, carbon tariffs and so on. Whether the parties from negotiating an acceptable level, or the financing of the scale, financial stability, the financial transaction tax options have become the focus.
First, developed countries need to take the pressure of climate taxes from taxpayers in general there is a reasonable shift of the financial sector. Second, financial transactions tax sufficient to produce the huge climate fund the amount of funds required, and the sustained, stable, predictable, such taxes are not many. To avoid a tremendous impact on the existing financial structure, financial transactions tax should be comprehensive to stocks, bonds, foreign exchange, derivatives and other markets also levied.
Finally, the collection of financial transaction tax cost is very low. According to the International Monetary Fund and other research, the collection of financial transaction taxes as simple and feasible, low cost. Taxpayers only need to link existing electronic clearing system in the automatic settings can then be transmitted directly to the tax authorities of tax, you can also avoid tax evasion and avoidance.
In addition, the Cancun negotiations, the General Assembly is a key new climate fund management mechanism. Abdullah al Assad on behalf of Group of 77 and China, the statement said, should , United Nations Framework Convention on Climate Change the Secretariat under the establishment of a standing committee to monitor the new fund, including other financial agency coordination, the financing of the developed countries three to review to determine the use of funds and the Fund s accounting management.
In regard to fund management, how to protect the power of developed and developing countries a fair, how to care for the least developed countries and small island countries of special interest, how to deal with climate change mitigation and adaptation to the allocation of funds, and even how to care for gender equality a series of questions are to be negotiated to resolve the difficulties.
Cancun, the General Assembly is funding a Kaner. According to a study by the University of Cambridge, if the current world do not take action, by 2050 20 of GDP each year will disappear due to climate change, the current capital investment will play a multiplier effect. Climate Financing Mechanism Conference in Cancun collapsed to seek, if we can eventually achieve the same international climate negotiations will be a major breakthrough.
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