Expectations for COP20 in Lima

The document argues that success at COP20 in Lima depends on rich nations delivering climate finance, specifically filling the Green Climate Fund, which has only seen "USD 2.3 billion in pledges" despite a "USD 100 billion a year by 2020" goal. It emphasizes the need for an international accounting framework to prevent "double counting" and ensure that only countries with "stringent targets" can access carbon markets to avoid the "hot air" issues seen under the Kyoto Protocol. The author calls for the accounting framework to be embedded in the new climate treaty separately from the Framework for Various Approaches (FVA) and highlights the need to streamline human rights safeguards for the CDM, REDD+, and Green Climate Fund.

• The progress of a UN climate deal by 2015 is heavily dependent on rich nations providing adequate climate finance. While there was a pledge to provide USD 100 billion annually by 2020, the Green Climate Fund has only received USD 2.3 billion in pledges.
• To avoid the environmental and economic failures of the Kyoto Protocol—where weak targets for Russia and Ukraine created "hot air" carbon credits—future carbon market eligibility must require a high level of ambition and stringent targets.
• A comprehensive international accounting framework is necessary to prevent the double counting of emission reductions. This framework should cover carbon markets, non-market approaches like REDD+, land-use sector emissions, nationally appropriate mitigation actions (NAMAs), and International Cooperative Initiatives (ICIs).
• The accounting framework should be integrated into the new climate treaty as a separate entity from the Framework for Various Approaches (FVA), although the FVA can still be used to develop specific carbon market rules.
• There is an urgent need to streamline social dimension safeguards and grievance mechanisms for the Clean Development Mechanism (CDM), the REDD+ safeguards information system (SIS), and the Green Climate Fund.

APA

Filzmoser, E. (2014). Expectations for COP20 in Lima. Carbon Market Watch. https://carbonmarketwatch.org/2014/10/29/expectations-for-cop20-in-lima/

Chicago

Filzmoser, Eva. Expectations for COP20 in Lima. Carbon Market Watch, 2014. https://carbonmarketwatch.org/2014/10/29/expectations-for-cop20-in-lima/.

Wikipedia

{{cite press release |last1=Filzmoser |first1=Eva |title=Expectations for COP20 in Lima |publisher=Carbon Market Watch |date=29 October 2014 |url=https://carbonmarketwatch.org/2014/10/29/expectations-for-cop20-in-lima/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{filzmoser2014expectations, author = {Filzmoser, Eva}, title = {{Expectations for COP20 in Lima}}, publisher = {Carbon Market Watch}, year = {2014}, month = oct, url = {https://carbonmarketwatch.org/2014/10/29/expectations-for-cop20-in-lima/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }