GREEN TECHNOLOGY AND FINANCE
- STRIKING A FAIR CLIMATE DEAL

Context
Against the backdrop of an unprecedented global economic crisis, the next months will be decisive for reaching a politically viable and fair post-2012 climate agreement in Copenhagen 2009.

Few players inside negotiation circles expect developing countries to make significant moves before developed countries have clarified their positions on emission reductions, financing and diffusion of green technology.

Copenhagen must deliver on the human dimension of climate change. It is clear that the poorest, those least responsible, will be most vulnerable to climate change. Countries that have accumulated tremendous economic growth through their historic reliance on fossil fuels must assume a leadership role in cutting greenhouse gas emissions. Likewise, it will be critical to secure the development and diffusion of appropriate, clean technology and the access to necessary financial resources for developing countries to adopt them.

The global crisis constitutes a tremendous opportunity for governments to address the weaknesses of the existing, international financial system but, more importantly, to lay the foundations for the development of a green and sustainable economy. Investing in clean technologies can be key to this process, creating employment opportunities across the globe while addressing the challenge of climate change. In this sense, the adoption of sectoral approaches within the negotiations could, in fact, facilitate technology development and the adoption of best available technologies across regions, between developed and developing countries.

Objective
The objective of CC9 is to contribute to the conclusion of a fair climate agreement by advancing the potential of green technology and adequate funding. Investing in the development and diffusion of green technologies and renewable energy is a sustainable way to stimulate the economy and create new jobs - sustainable economic growth that can reinforce efforts to combat climate change while respecting development needs.