Policy Brief 13 : Financing Adaptation through a Levy on International Transport Services

New financial resources will be needed to ramp up the level of economic support expected over the next decade to cope with increasing economic damages from climate change. Since not all of the resources required are likely to be readily available from the public treasuries of ndustrialised countries, a reliable mechanism must becreated to augment public sector contributions with funds from the private sectors of countries whose economies are adding significant levels of greenhouse gases to the global atmosphere. A modest, harmonised international levy imposed on air transport and marine freight services could make a significant contribution to meeting these needs without damaging the competitiveness of any country, region, or economic sector. If the funds raised from such levies are combined with a global commitment to fulfil pledges made at Copenhagen, in 2009, through a balanced portfolio of public and private sector programmes, the impacts of climate change on poor and vulnerable people, especially those in the least developed countries, could be addressed effectively and efficiently.