Norwegian Climate Finance 2012
Category: UNFCCC
Document Type: Fast-Start Finance Report
Role: Main
This report details Norway's climate finance contributions in 2012 and the Fast Start period (2010-2012), highlighting increased funding, priorities like REDD+, renewable energy, energy efficiency, and adaptation focusing on food security and disaster risk reduction, and reporting on ODA disbursements to the UNFCCC.
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Full text:
Norwegian Climate Finance 2012 Highlights Norway’s bilateral climate finance was 954 million USD in 2012, while the level in the two preceding years was USD 682 and USD 705 million, respectively.. In 2006 the share of bilateral climate finance in the overall Official Development Assistance (ODA) budget was around 3 %, which by 2012 had increased to 18 %. During the same period, the total ODA budget also increased from an already high level. Norway pledged USD 1 billion for REDD+ for the fast start period. This commitment has been fulfilled. The main priorities for Norwegian Climate Finance in recent years have been on reducing emissions from deforestation and forest degradation and promotion of renewable energy and energy conservation/efficiency. Adaptation to climate change is another priority, with particular focus on food security and disaster risk reduction. The Norwegian Government has long emphasised the strong links between environment and development. The current policy is available in the White Paper “Towards Greener Development” (2010-2011). The budget for climate change mitigation and adaptation assistance has increased strongly over the past 5-6 years. In 2012, Norwegian multilateral core support to organisations that have been classified as climate relevant was USD 371 million. For the fast start period as a whole, this figure is almost USD 1.1 billion. The largest share of bilateral climate finance, due to our main focus on REDD+ and renewable energy, is going to mitigation activities - USD 779 million in 2012. At the same time, efforts are being made to scale up financial assistance for adaptation, which has increased from USD 67 million in 2010 to USD 85 million in 2012. Support for activities classified as both mitigation and adaptation increased from USD 29 million to 91 million over the same period. Energy production and consumption is one of the largest sources of emissions of climate gases. Norwegian assistance to clean energy use public financial sources to mobilize and incentivize commercial investments that lead to increased energy access, energy efficiency and climate change mitigation in developing partner countries. Last year the total amount channelled bilaterally and through multilateral institutions to support such activities reached approximately USD 300 million. ****** This report, while focusing on 2012, also gives aggregate figures for the whole Fast Start period. As will be seen, there has been a significant increase in such assistance over the period. 1. General In Decision 1/CP.16 relevant parties were invited to submit information on the resources provided for the fast start period (2010-2012). Reference is made to our reports covering 2010 and 2011. Norway is pleased to submit the information below on actual disbursements in 1 2012. All numbers are ODA contributions; non-ODA contributions to various climate change activities are not included. All Norwegian assistance mentioned in this report is on a grant basis (no loans). The main goal of Norway’s ODA is poverty reduction, equitable distribution of social and economic goods and sustainable development. The strong interdependence between environment and development has been emphasised by the Government, and the budget for climate change adaptation and mitigation has increased strongly over recent years. It should also be noted that efforts are being made, where relevant, to integrate climate change
Tags: Adaptation, Agriculture, Climate Change, Climate Finance, Compliance, Deforestation, Disaster Risk Management, Development, Energy, Energy Conservation, Energy Efficiency, Energy Transition, Finance, Food, Food Security, Forests, Funding, Ghg, Green Investments, Incentive, Institutions / Administrative Arrangements, Investment, Mitigation, Policy, Public Private, Redd+ And Lulucf, Renewable Energy, Report, Reporting, Unfccc