27 November 2008: The UNFCCC Secretariat has released three substantive papers for parties on finance. One technical paper, entitled “Investment and financial flows to address climate change: An update” (FCCC/TP/2008/7), provides an update to the paper published by the Secretariat on the same topic in 2007.

This update was requested by the Ad Hoc Working Group on
Long-term Cooperative Action under the Convention, at its second
session, taking into account paragraph 1 of decision 1/CP.13 (the Bali
Action Plan). The technical paper presents different options, tools and
mechanisms to enhance financing for mitigation, adaptation and
technology cooperation for an effective response to climate change.
It
also contains information submitted by parties and other observer
organizations on these options, tools and mechanisms, as well as
relevant new information available on the investment and financial
flows needed. Another technical paper, entitled “Identifying, analysing
and assessing existing and potential new financing resources and
relevant vehicles to support the development, deployment, diffusion and
transfer of environmentally sound technologies Interim report by the
Chair of the Expert Group on Technology Transfer” (FCCC/SB/2008/INF.7),
presents the current situation on financing mitigation technology
transfer by stages of technological maturity (research and development,
demonstration, deployment and diffusion), by specific technologies and
by sources (under and outside the Convention).
It also summarizes
up-to-date estimations of additional financing needs to scale up
technology transfer from various sources and gives a number of insights
on barriers to financing technology transfer. The report provides
information only on financing mitigation technologies; the work on
financing technologies for adaptation will be presented in the final
report to be completed by the 30th session of the UNFCCC subsidiary
bodies. Another technical paper, entitled “Funding adaptation in
developing countries: extending the share of proceeds used to assist in
meeting the costs of adaptation; and options related to assigned amount
units of Parties included in Annex I to the Convention”
(FCCC/TP/2008/6), analyzes options for funding adaptation in developing
countries, by extending the share of proceeds or generating revenue
from assigned amount units.
The paper explores the scale of the funding
that could be raised for adaptation under each option, possible impacts
of the options on the carbon market and, where appropriate, issues
involved in the monetization of Kyoto units provided to the Adaptation
Fund. [Investment and financial flows to address climate change: An
update] [Identifying, analysing and assessing existing and potential
new financing resources and relevant vehicles to support the
development, deployment, diffusion and transfer of environmentally
sound technologies Interim report by the Chair of the Expert Group on
Technology Transfer] [Funding adaptation in developing countries:
extending the share of proceeds used to assist in meeting the costs of
adaptation; and options related to assigned amount units of Parties
included in Annex I to the Convention]