Legal Aspects of International Climate Finance
Ecologic Institute supports to the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety in implementing the so-called fast start finance of international climate finance. The project also provides legal expertise in support of the international climate negotiations and developing a global climate finance mechanism.
In the international climate negotiations, the international community set out key elements of a future climate regime in the Copenhagen Accord of 2009. Developed countries commit, inter alia, to provide long-term financial support for mitigation and adaptation to developing countries. In addition, developing countries are to receive 30 billion US dollars "fast start finance" for the period 2010-2012 for mitigation and adaptation measures, technology development and transfer and capacity building. The EU has pledged 2.4 billion Euros fast start finance, of which the German federal government will provide an average of 420 million Euros a year. Ecologic Institute provides legal expertise and support to the German Ministry for the Environment in implementing its pledge. Fast start activities have to be coordinated within the federal government, the EU and the international donor community.
The project also provides input to the international political and legal discussion on future climate finance. Specific issues include sources and delivery of finance, which institutions should distribute, and how the fulfilment of financial pledges can be verified ("MRV"). Ecologic Institute provides legal expert advice to the Ministry in the international climate negotiations, in particular in the EU’s legal expert group (LEX) and as liaison between LEX and the EU’s expert group on investment and finance (EGIF). Ecologic Institute also addresses specific legal questions on climate finance for the Ministry.