AUTHORS: Pernille Schiellerup – Kristof Geeraerts
Belgium’s contribution to the Copenhagen commitment to build up financing for developing countries’ climate policies towards $100 billion in the period 2013-2020 is most likely to be in the range of $127 million and $539 million per annum by 2020. This was the conclusion of a study carried out by IEEP for the Belgian Federal Authorities. The low end scenario ($127 million) for Belgium’s contribution could be met relatively easily through a tax on airline tickets or revenues from the auctioning of EU emission trading allowances, or a combination of the two, but that the medium to high scenarios would be more challenging to meet.
The 2009 Copenhagen Accord included substantial commitments by developed countries parties to provide finance to developing country parties to help finance climate mitigation and adaptation action. These commitments involved a 2010-2012 ‘fast-start’ phase during which some $30 billion were to be provided, and a 2013-2020 phase during which financing would build up to reach $100 billion per annum by 2020.
The question of which of the developed country parties to the Convention should pay what proportion of the $100 billion by 2020 has not been addressed yet, nor has the internal burden sharing within the EU, or the split between EU level contributions via the EU 2012-2014 Multi-annual Financial Framework and direct Member State contributions.
Given these and other related uncertainties which will impinge on the actual contributions of specific developed countries, the Belgian Federal Authorities asked IEEP to explore what the Belgian contribution to the ‘$100 billion by 2020’ commitment might be and to explore potential sources of finance.