Small Island Developing States (SIDS) are threatened by Rising Sea Levels, Climate Change, Energy Security, Food Security and Water Security. This blog will attempt to post articles and reports that may be useful to these vulnerable states around the globe.
Wednesday, September 16, 2015
LAC Carbon Forum Calls for Including Market Approaches in Paris Agreement
11 September 2015: The 9th Latin American and Caribbean Carbon Forum (LACCF 2015) concluded with calls for the use of market-based mechanisms and other forms of carbon pricing and climate finance to be included as mitigation and development tools in the global climate agreement expected to be adopted at the 21st session of the Conference of the Parties (COP 21) to the UN Framework Convention on Climate Change (UNFCCC).
The Forum, which took place from 9-11 September 2015, in Santiago, Chile, was organized by the World Bank Group, the Latin American Energy Organization (OLADE), the International Emissions Trading Association (IETA), the UN Environment Programme (UNEP) and the UNEP DTU Partnership, the Inter-American Development Bank (IADB), the UNFCCC Secretariat, the UN Development Programme (UNDP) and the Development Bank of Latin America (CAF).
It brought together key business and government representatives and other stakeholders from across the Latin America and the Caribbean (LAC) region to share, among other things: the most recent developments on carbon pricing, climate financing and green investments in LAC; and best practices and lessons learned from the implementation of the CDM in LAC.
The Forum provided a platform to showcase successful examples of the use of market-based approaches such as the Clean Development Mechanism (CDM), innovative financial instruments, and carbon pricing policies in the region. Discussions at the Forum also highlighted the need to bridge the gap between public and private sector actions so as to leverage the finance needed to address climate change in the region.