Scientific evidence confirms that climate change will continue even if future emissions of greenhouse gases are stabilised. Developing countries are especially vulnerable to climate change and will face high economic costs. However, current funding under the Kyoto Protocol or from other financing mechanisms do clearly not satisfy the financing needs. Thus, the Federal Office for the Environment supported by INFRAS has developed a new funding scheme with revenues from a low global CO2 tax to meet the future financing needs. Based on the polluter-pays principle and the concept of common but differentiated responsibilites, the funding scheme shifts revenues from industrialised to developing and least developed countries. The Multilateral Adaption Fund implemented under the funding scheme includes a prevention pillar for financing adaptation and an insurance pillar for covering climate change related damages in developing countries. Dr. Othmar Schwank of INFRAS has presented the Swiss proposal on a Side Event on COP 13 in Bali on 13. December 2007.

Global solidary in financing adaptation - Swiss Side Event on COP 13 in Bali

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