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COP27 - A critical conference that must deliver on climate finance

Recent floods in Pakistan displaced millions of people

COP27 is around the corner, and there is a packed agenda on climate finance. The new global climate finance goal to be agreed by 2024 will be an important discussion among experts at the conference.  For the first time, loss and damage is on the agenda,  which is a big victory for countries in the global south and civil society campaigning, and a key marker of success at COP27. 

To help you navigate the discussions, we have provided a short reading list below. Resources range from a toolkit for those very new to COPs, to a Q and A on the crucial future climate finance goal and briefings on climate finance, the interrelated issues of debt and climate, and the issue of loss and damage. 

Our experts will be following the COP every day, monitoring progress and working with partners throughout to hold leaders to account.

• Skilling up on UNFCCC COP processes, June 2022
• Q & A: The future global climate finance goal (aka NCQG) - what is it, why is it important and what does it entail?, June 2022
• The climate emergency: what’s debt got to do with it?, October 2021
• Global Landscape of Climate Finance: A Decade of Data, Climate Policy Initiative (CPI), October 2022
• The Cost of Delay: Why Finance To Address Loss And Damage Must Be Agreed at COP27, Loss and Damage Collaboration and Oxfam, October 2022

News & analysis

APMDD and Eurodad reaction to the Finance in Common (FiC) Summit

In October, the global network of Public Development Banks (PDBs) held its first face-to-face Finance in Common (FiC) Summit in Abidjan, Ivory Coast – the third since its inception. The Asian Peoples' Movement on Debt and Development (APMDD) and Eurodad reacted to the outcome of the summit.

Read the reaction here.

69 CSOs welcome landmark General Comment by African Commission on States' obligations to public services

69 civil society organisations welcome the publication yesterday of the African Commission on Human and Peoples’ Rights (African Commission) landmark General Comment detailing States’ obligations with regard to public services, such as education, healthcare and water. This is a major step forward to consolidate the human rights and legal framework, in a context where public services have emerged as one of the critical tools to address the climate, health, food, and inequality crises of the last years.

Read the statement here.

Reports

AidWatch 2022 - Is the EU a payer, player… or just full of hot air?

by CONCORD

Official Development Assistance (ODA) is one of the most powerful tools for enabling both governments and civil society to support those left furthest behind. But since 2005, when CONCORD, a European confederation of NGOs working on sustainable development and international cooperation, began its annual AidWatch report, the European Union has failed to meet internationally agreed-upon ODA targets.

Read the report here.

Future(s) of International Cooperation: Continuities and Disruptions

by Association for the Cooperation of the People (ACEP)

This position paper analyses the course of the Portuguese and European International Cooperation for Development sectors, their main challenges and possible ways forward. It reaffirms the need to promote an approach to International Development Cooperation based on principles, such as solidarity, and centered on equal partnerships and shared responsibilities, which implicates a power shift from the Global North to the Global South.

Read the position paper here.

Useful resources

A new frontier in infrastructure financing: Analysis of Infrastructure Investment Trusts

by Centre for Financial Accountability and Recourse

This paper examines a recent example of an Infrastructure Investment Trust (InvIT) in India, a country that has embraced the privatisation of public infrastructure through Public Private Partnerships. It argues that the Oriental Infrastructure Trust InvIT investment is not truly an investment in public works - intended to result in road construction that respects the rights and needs of local communities and nature - but in finance, in order to free up capital for further infrastructure investment.

Read the analysis here.

Vacancies

Senior Policy and Advocacy Officer - Progressive Green Taxation

Eurodad | Brussels | Deadline: 24 November

Call for tender for consultancy - Writing a scoping paper on risks and opportunities in ESG in Sovereign Bonds

Eurodad | Remotely | Deadline: 10 November

Call for tender for consultancy - Project ‘Delivering debt justice in support of people and planet’

Eurodad | Remotely | Deadline: 9 November

Events

16 November | The EU's Global Gateway: smart new strategy or the Emperor's new clothes? A discussion about the new EU flagship project's risks and opportunities

Join Eurodad and Counter Balance for a discussion in the European Parliament on the unresolved issues within the Global Gateway, and the opportunities which an effective strategy could create. The discussion will examine the key role which the Parliament will play scrutinising the Commission, to make sure that the Gateway delivers on the EU’s development objectives.

Register to attend the event here.

29 November -  2 December | Our Future is Public - From global inequalities to social, economic and climate justice

Our Future is Public Conference (#OFiP2022) will bring together social movements and civil society organisations from all over the world in Santiago, Chile and online for a four-day conference.

Read more about the event and register here.

23 November - 7 December | Webinars on understanding and accessing debt information

Join Debt Justice UK for three free webinars on how to understand and access debt information. The webinars will provide an understanding of what kind of government debt data is important, and where to go to find it. For more information, contact Ilaria Crotti at [email protected].

Register for the event here.

This newsletter has been produced with co-funding from the European Union, Bread for the World and Norad. The contents of this publication are the sole responsibility of Eurodad and can under no circumstances be regarded as reflecting the position of the funders.