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The Role of Climate Change in Global Economic Governance$
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Bradly J. Condon and Tapen Sinha

Print publication date: 2013

Print ISBN-13: 9780199654550

Published to Oxford Scholarship Online: September 2013

DOI: 10.1093/acprof:oso/9780199654550.001.0001

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Climate Finance

Climate Finance

(p.200) 8 Climate Finance
The Role of Climate Change in Global Economic Governance

Bradly J. Condon

Tapen Sinha

Oxford University Press

This chapter examines climate finance and considers sources of financing and constraints on financing mechanisms in WTO subsidies law. It begins with an overview of multilateral financing mechanisms. It then analyses the issue of fossil fuel subsidies; how to structure financing for adaptation by subsistence farmers in accordance with the WTO Agreement on Agriculture; and financing for clean energy projects; and the scope for private sector participation and the importance of international trade in services. It is argued that the money spent on fossil fuel subsidies should be reallocated to mitigation via the development and dissemination of clean energy technologies and to adaptation via financing for subsistence farmers to acquire the inputs needed to switch to genetically modified (GM) crops that can tolerate a changing climate.

Keywords:   climate change, financing mechanisms, WTO subsidies law, fossil fuel subsidies, subsistence farmers, clean energy project financing

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