Post-Paris/Post-Trump: The Green Climate Fund and Climate Finance Governance in the Eye of the Storm

27 Pages Posted: 27 Sep 2017

See all articles by Stephen Minas

Stephen Minas

Peking University - Peking University School of Transnational Law

Megan Bowman

King's College London – The Dickson Poon School of Law

Date Written: September 8, 2017

Abstract

The Green Climate Fund (GCF), established in 2010, is a significant and potentially innovative addition to the frameworks in place under the UN Climate Convention to mobilise finance for climate change mitigation and adaptation. In addition to its challenges of operationalisation as a new international fund, the GCF confronts further difficulties as a result of US President Donald Trump's June announcement that the United States would renege on its pledged contributions to the GCF and withdraw from the Paris Agreement. As a result, the GCF faces a major reduction in actual contributions from the projected amount, as well as potential governance challenges at the levels of its Board and the UNFCCC Conference of Parties (COP), to which the GCF is ultimately accountable. This paper analyses these challenges with reference to the GCF's internal regulations and its agreements with third parties such as the United States. It goes on to discuss how COP-mandated design features of the GCF can be built upon to strengthen the GCF's resilience in the face of such challenges. These features are the GCF's linkages with UNFCCC constituted bodies, in particular the Technology Mechanism, and its engagement with non-Party stakeholders, especially through the Private Sector Facility. It is argued that deepening GCF engagement with both the Technology Mechanism and non-Party stakeholders would increase both the coherence of climate finance governance and the GCF's ability to contribute to ambitious climate action in uncertain times.

Keywords: climate change law, climate finance, Green Climate Fund, Paris Agreement, international organisation

Suggested Citation

Minas, Stephen and Bowman, Megan, Post-Paris/Post-Trump: The Green Climate Fund and Climate Finance Governance in the Eye of the Storm (September 8, 2017). Peking University School of Transnational Law Research Paper No. 17-6; TLI Think! Paper 75/2017. Available at SSRN: https://ssrn.com/abstract=3038512 or http://dx.doi.org/10.2139/ssrn.3038512

Stephen Minas (Contact Author)

Peking University - Peking University School of Transnational Law ( email )

Shenzhen
China

Megan Bowman

King's College London – The Dickson Poon School of Law ( email )

Somerset House East Wing
Strand
London, WC2R 2LS
United Kingdom

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