Adaptation to climate change:
The adaptation to the consequences of climate change is also one of the main concern of the developing countries, and especially the most vulnerable countries which are not named anymore in the Cancun Agreement. In the previous texts, the countries of Africa and the Small Island Developing States (SIDS) were highlighted as the most vulnerable countries to climate change, but due to a really strong argument among the developing countries (G77 and China) on the definition of vulnerability during the COP16, the mention of Africa and SIDS has disappeared in the chapter on adaptation.
Apart that, the text of Cancun decides of the establishment of an Adaptation Committee “to promote the implementation of adaptation in a coherent manner”. This is the opposite of the demand of the developed countries that wanted to strengthen the existing institutions instead of creating a new one. But maybe because of a disagreement between developed and developing countries, or because of a lack of time in Cancun, the parties will have to submit their proposals concerning the composition and modalities of this Adaptation Committee before the end of February.
And finally concerning loss and damage, or on the implementation of an international insurance system for the damages caused by the important meteorological events related to climate change. Even if it is becoming a more and more important issue, especially regarding the floods in Pakistan this year, the parties were not able to reach an agreement on this issue. They have just decided to set up a work programme to address loss and damage associated with climate change impacts in developing countries that are particularly vulnerable to the adverse effects of climate change.
One of the most important request of the developing States was the establishment of a fund for the money for adaptation and mitigation in their countries. They also requested an equitable representation between developed and developing countries in the board of this fund and they did not want to see the World Bank interacting with the fund. In the outcome of Cancun, the parties have decided the establishment of a Climate Green Fund with a Board of the 24 members, 12 from the developing countries and 12 from the developed countries. Furthermore, a Transitional Committee is established with 40 members (25 from developing countries and 15 from developed countries), its mission is to design the Climate Green Fund.
But, on the other hand, the World Bank will be the interim trustee of the fund, and its action will be reviewed in three years. In other words, it means that the parties have established a fund with just a board, and that the World Bank is already going to play this role, and if this interim is “successful”, the Bank will probably carry on playing this role for a longer term. This longer term will consequently compromise the decisions of the Climate Green Fund. But don’t be pessimistic, let’s wait and see.