24 October 2008: The Organisation for Economic Co-operation
and Development (OECD) has released a discussion paper entitled “What Role for
Public Finance in Climate Change Mitigation,” which considers how public
finance in developed countries can best be used to support climate change
mitigation in developing countries.

The paper describes the role of public
finance in climate change mitigation in relation to other instruments, and
analyzes market failures and barriers to mitigation technologies that could be
overcome by public finance. It also maps and assesses current initiatives and
proposals to raise and deploy public money to support international climate
change mitigation. Finally, guidance on how public finance might play a role in
the post-2012 climate architecture is proposed. [The Discussion Paper]