Part II Analysis of the Provisions of the Agreement, 14 Climate Finance (Article 9)
Jorge Gastelumendi, Inka Gnittke
Edited By: Daniel Klein, María Pía Carazo, Meinhard Doelle, Jane Bulmer, Andrew Higham
- Climate change — Treaties, amendments and modification — Treaties, application — Treaties, interpretation
This chapter focuses on climate finance via Article 9 of the Paris Agreement. Climate finance is a central piece of the international climate change architecture and was determinant in reaching a global agreement on climate change in Paris. The Paris Agreement introduces a broader understanding of climate finance, which historically had been limited to public financial flows from developed to developing country Parties. Article 9 is in line with Article 2.1(c) that sets ‘making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development’ as the third objective of the Agreement. It is a result of the recognition of the economic and financial reality that in order to overcome the challenges posed by climate change, every single kind of available financial flows is needed.