It is to counter the Danish draft that proposed tough action by developing countries
Call for setting up of a Global Climate Fund
NEW DELHI: The four emerging economies — Brazil, South Africa, India and China — have recommended the establishment of a mechanism to develop and transfer environment-friendly technology to developing countries, remove barriers in technology transfer and appropriately address issues of intellectual property rights.
The BASIC draft proposed by these four developing nations, to counter the Danish draft that proposed tough action by developing countries, calls for an appropriate forum to consider actions necessary to address the “potential economic and social consequences” and impacts of the design, selection and implementation of mitigation response measures implemented by Annex I parties or developed nations. The Danish draft was subsequently withdrawn.
Affirming the need to undertake further negotiations on any unresolved issues in accordance with the mandate of the Bali Action Plan, the document is virtually a wish-list of these nations and a “negotiating tactic.”
Calling for the setting up of a Global Climate Fund, fully accountable to the Conference of the Parties (COP), which will consist of specialised funds for mitigation, adaptation, technology transfer and capacity building, the document suggests financing from the private sector. Carbon markets may serve as complementary funding for the corpus which will be funded by the developed countries.
The existing Global Environment Facility (GEF) will be designated as the operating entity for the Fund, allowing multilateral development banks to play a supplementary role.
According to the document, the institutional arrangement for Technology Development and Transfer will plan, coordinate and implement such activities. It will aim to remove barriers to technology transfer and enhance means of promoting it by establishing regional technology innovation centres and networks. It will also monitor and assess the progress and effectiveness of the development and transfer of green technologies. The mechanism will coordinate actions by different stakeholders at the national, regional and international levels.
A funding window for technology development and transfer shall be established under the financial mechanism of the United Nations Framework Convention on Climate Change to support the initiative.
It spells out that the no country shall resort to any form of unilateral measures, including fiscal and non-fiscal border measures, against goods and services imported from other countries, in particular from developing countries, on grounds of stabilisation and mitigation of climate change.