This road-map couldn't clearly clarify that "how far the adaptation finance will be adequately scaled-up; which portion of claimed climate finance will be actually grants or grant equivalent; how the most climate vulnerable countries will get priority in funding considering the institutional challenges,” said M Zakir Hossain Khan, Climate Finance Governance Analyst, who works for the Transparency International Bangladesh.
It also could not clarify that the most vulnerable countries which have not submitted any emission reduction target whether they would be considered for committed climate finance or not, he added.
He also said that the role of Multilateral Development Banks in climate finance is not clear in the proposal.
The document reads that the pledges made in 2015 alone will boost public finance from an average of US$41 billion over 2013-14 to US$67 billion in 2020 – an increase of US$26 billion.
This projection is based on the significant pledges and announcements made by many developed countries and Multilateral Development Banks (MDBs), as well as reasonable assumptions about trends of climate finance from other countries.
It should be considered a conservative, indicative aggregation of public climate finance levels in 2020, rather than a firm prediction, it also said.
The proposal came from 39 developed countries as per the Paris Agreement which stated that the developed countries will meet the $100 billion per annum target by 2020 and extend it until 2025 in the context of meaningful mitigation actions and transparency on implementation.
It also said that prior to 2025, the COP 22 will set a new collective quantified goal from a floor of $100 billion per year, taking into account the needs and priorities of developing countries.
He raised question that the most importantly "Road-map doesn't include direction on whether the future finance against the claim for loss and damages would be over and above this $100 billion dollars".
This road-map sets out the range of actions which are to fulfill the pledges of developed country parties and make further efforts to scale-up climate finance, and significantly increase finance for adaptation, in line with the priorities expressed by developing countries.
It will also help developing countries to develop and implement ambitious mitigation contributions and adaptation plans that are essential to attract investment, according to the proposed road-map.
Zakir Hossain Khan also emphasized that developing country parties should use the COP22 negotiations to determine the concrete definition of climate finance that recognise only grants for adaptation and also a common, clear strong modalities, procedures and guidelines (MPG) for climate finance accounting to be developed under Article 13 of Paris Agreement that proposed a broad based Transparency Framework".
However, the last year’s OECD/CPI report claimed that these countries had delivered $62 billion in climate finance in 2014.