As the financial and market mechanisms established under the UNFCCC struggle to implement policies aimed at the protection and promotion of human rights, these institutions might benefit from learning how other global financial mechanisms are dealing with this issue, such as the Global Fund’s new Human Rights Complaints Procedure.
Leveraging climate finance for implementing Nationally Appropriate Mitigation Actions (NAMAs) has been one of the biggest challenges for NAMA developers in the past years. A new financial package up to €85 million by the NAMA Facility invites NAMA support project outlines by 15 July 2015 and beefs up existing NAMA finance to about €150 million.
Following the temporary suspension of the controversial CDM hydroelectric project Barro Blanco in February, Panama’s government acknowledges “recurring administrative flaws and improper handling” by the company in charge. After its dismissal, a new roundtable is now convened to analyse how the project can continue under a new management and “in accordance with the well-being of the communities”. The crucial decision to continue financing the project is now up to the German and Dutch development banks.
This week, European policymakers have provisionally agreed on a fix for the EU’s carbon market that is suffering from an oversupply of pollution permits and yielding record-low prices. While this is a great step forward, a permanent solution to tackle the glut of pollution permits is needed as part of the upcoming legislative proposal to overhaul the EU’s carbon market for the period after 2020.