Aid for Trade and Climate Change Financing
Key Implications for LDCs and SIDS
15th December 2009
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Effective and additional climate change financing will be required in order to support Least Developed Countries (LDCs) and Small Island Developing States (SIDS) in mitigating and adapting to climate change. Indeed, LDCs and SIDS are highly vulnerable to climate change impacts. Likewise, these countries face significant levels of poverty and increased levels of climate-related threats such as droughts, floods, and hurricanes, superimposed on existing vulnerabilities. Moreover, LDCs and SIDS represent a small portion of global trade and have achieved only a limited success in diversifying their economies.
Trade-related assistance like Aid for Trade and the Enhanced Integrated Framework could play an important role in building the economic resilience that LDCs and SIDS need to respond to climate change challenges. Indeed, climate change financing and trade-related assistance can be used in a supportive and complementary manner in order to address the supply-side constraints and the climate change adaptation and mitigation objectives of LDCs and SIDS. Leveraging other possible financial sources will also be important. Carbon markets have emerged as a potentially significant funding source. However, the architecture, governance, and sustainable development implications of their implementation are still crucial elements to be debated. Finally, the perspective of recipient countries will be crucial to build a policy and institutional context conducive to the advancement of economic, environmental, and social goals in LDCs and SVEs.
The round-table will bring together leading experts who will discuss potential benefits from leveraging carbon markets for LDCs and SIDS; areas in which both trade-related assistance and climate change financing can be used in a complementary and reinforcing manner; and the strengths and weaknesses of current institutional and absorptive capacities in LDCs and SIDS.
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For more information regarding this session, please contact Gloria Carrión (gcarrion@ictsd.ch) or Paolo Ghisu (pghisu@ictsd.ch), ICTSD’s Competitive and Development Programme.
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