5 August 2010: The UN Secretary-General’s High-level Advisory Group on Climate Change Financing (AGF) convened its third briefing to UNFCCC parties on 5 August 2010, on the sidelines of the UNFCCC talks in Bonn, Germany.

The briefing built on progress achieved at the second AGF meeting held in New York, US, from 12-13 July 2010, and was chaired by Daniele Violetti, Coordinator of the AGF Secretariat. Panelists included: Nicholas Stern, AGF Member; Lucas Assuncao, Sherpa of AGF member Supachai Panitchpakdi; Ato Newai Gebre-ab, Chief Economic Advisory to the Prime Minister of Ethiopia; and Norway’s State Secretary Kjetil Lund. The last two represented the AGF Co-Chairs.

Panelists explained that the Group aims to help make progress in the UNFCCC process and that it must deliver an analysis of financing options that are technically sound and politically viable, and that add up to $100 billion per annum by 2020. They also informed that the AGF’s technical work is already very well advanced and that the Group is now discussing political considerations on how to present the analysis on sources in a useful manner, while taking into account different time horizons.

During the question and answer session, parties sought clarification on the timing of the final report. Panelists stated that their final report will be submitted to the UN Secretary-General by the end of October. Parties also inquired whether the Group is also addressing how the money should be spent. The presenters clarified that members are looking at some examples that can illustrate the efficient and effective use of resources. Several parties representatives highlighted that much more than $100 billion per annum was needed to deal with climate, with panelists concurring. Panelists further underlined that the analysis carried out to identify viable sources can be used to generate money at different scales. Parties emphasized the need to align the work of the Group with the principles of the Convention.

In terms of next steps, it was reported that the Co-Chairs of the Advisory Group, Prime Ministers Meles and Stoltenberg, have asked the working groups to prepare a first draft of the final report for the next working group meeting scheduled to be held in Singapore on 7-8 September 2010. The AGF principals will then hold one more meeting on 12 October 2010, in Addis Ababa, Ethiopia, to finalize the content of the final report. Prior to that, the AGF will provide another update and briefing to UNFCCC parties, during the UNFCCC session scheduled to take place in Tianjin, China, from 4-9 October 2010. [UNFCCC Webcast of the Briefing] [AGF Homepage] [Climate Change Policy & Practice Story on the Second Meeting of the AGF]