Climate Finance

May 04, 2011 (LBO) Climate change is a burning issue under discussion today. As a small island nation, Sri Lanka is vulnerable to serious threats of climate change, causing both humanitarian and health hazards, as flooding in recent months has shown. British Foreign Secretary William Hague has described climate change as perhaps the twenty-first century’s biggest foreign policy challenge. He has stressed that a world which is failing to respond to climate change is one in which the values embodied in the United Nations will not be met. Indeed, the UN Charter makes clear that a central purpose of that organisation is to achieve international co-operation in solving international problems of an economic, social, cultural or humanitarian character.

Climate change is just such a problem and its impacts and costs fall disproportionally on developing countries. That is deeply unfair. So it is only right that in Cancun last December the 16th Conference of the Parties to the United Nations Framework Convention on Climate Change reaffirmed the commitment from developed countries in Copenhagen in December 2009 jointly to mobilise $100bn of climate finance a year by 2020, to address the adaptation needs of developing countries and help