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The aim of the agreement is to create more effective competition in the use of development aid loans by ensuring that they are used for the purchase of goods and services from any country, not just those in the country providing the loan. The agreement also aims to prevent Helsinki disciplines (or related aid disciplines) from being circumvented by the use of unrelated aid. Related disciplines of state aid are listed in Chapter III of the agreement and transparency obligations on related aid (e.g. B, advance/immediate notifications, requests and consultations) are set out in Chapter IV of the agreement. For operational purposes: the text of the Copenhagen agreement stipulates that funding for the $100 billion target should come from a “broad range of sources”: public and private, bilateral and multilateral, including alternative sources of financing.” This broad definition has been controversial about what should be taken into account in the census of progress on the issue of objective. According to a methodology developed by the OECD to discuss the Paris Agreement, US$71.2 billion was raised in 2017 for $11 billion, an increase of 21% since 2016. These estimates show encouraging progress towards the $100 billion target. The officially supported export credit agreement provides for disciplines for aid and transparency requirements for non-trade-related aid. In addition, the agreement on transparency of official development assistance (hereafter referred to as the agreement) reached by the participants provides for disciplines and transparency measures for unsuscified official development assistance (ODA). There are also signs that the ODA is moving towards activities directly contrary to the objectives of the Paris Agreement. The OECD estimated that in 2016 and 2017, $3.9 billion was spent annually on ODA through upstream and downstream fossil fuel activities. Although this is small compared to allocabular bilateral flows, it is still a significant amount of official development assistance, which can be invested in activities to strengthen the climate crisis.

This is part of a larger problem of government subsidies for fossil fuel production and consumption, which the OECD estimates cost $478 billion in 2019 in 77 economies, well beyond annual flows of financing for development or international climate finance.

Posted on December 2nd, 2020 | filed under Uncategorized |

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