Norwegian proposal on financing climate needs

Norway has proposed a system for financing climate needs based on international auctioning of allowances within the United Nations Framework Convention on Climate Change (UNFCCC).

Norway says that the system would complement the traditional pledge-based financing system in an efficient manner by generating significant and predictable financial resources.

An auction-based financing system would also ensure adherence to the principle that thepolluter should pay, states the Government on their website.

Center for Clean Air Policy (CCAP) has produced an analysis and assessment of the proposal and its critical elements for implementation.

Read the report here.