Turning Carbon into Gold
How the international community can finance climate change adaptation without breaking the bank
Published: Dec 02, 2008
Recognizing that poor communities in developing countries are the least responsible for climate change but most vulnerable to its impacts, the Bali Action Plan calls for "new and additional resources" and "innovative finance mechanisms" to address urgent climate adaptation needs. Oxfam suggests that new financing mechanisms linked to emissions reduction regimes could be the way forward in the post-2012 climate negotiations and yield the minimum of $50 billion per year necessary for adaptation needs in developing countries.