Study on the demand of climate finance for developing countries based on submitted INDC

The 21st Conference of Party (COP21) held in Paris at the end of 2015 has opened a new era for the joint response dealing with climate change globally, and built up a new mode of global climate governance, that is, “all Parties submit INDC – global stocktake – enhance effort of actions – all Parties resubmit INDC – finally achieve the ultimate objective of the Convention.” With 160 INDC reports (covering 188 Parties) that the UNFCCC Secretariat has currently received as research objects, this study classifies the mitigation targets of all Parties, and focuses on the systematic analysis of the financial demand, mitigation cost and priority investment areas for developing countries. The results are as follows: among 160 INDC reports, 122 reports clearly include the finance content; 64 reports propose specific amount of financial demand for the implementation of INDC; 31 reports pre-estimate domestic amount and financial demand for greenhouse gas mitigation in 2030, based on which they have calculated that the average mitigation cost for developing countries in 2030 would have reached up to US$22.3 per ton CO2; 28 Parties reclassify the financial demand for mitigation and adaptation areas, and reach the conclusion that the overall financial demand ratio for mitigation and adaptation is 1.4. Should the current mitigation commitments of the Parties from developed countries be used as benchmark, then in 2030 the total amount of financial demand for developing countries in response to climate change would have reached up to US$474 billion