The high-level ministerial discussions continued on Wednesday
with a focus on trying to reach a consensus as to scaling up
finance to the "magic number" of US$100 billion per year
by 2020.
The usual array of contact groups, informal consultations and
meetings under the COP, CMP and AWG-DP workstreams continued
throughout the day, culminating in the COP/CMP President convening
another informal stocktaking plenary in the evening.
High-Level Ministerial Dialogue
Despite the announcement on Tuesday that the Like-Minded
Developing Countries (LMDCs) would not support a
move to raise funds through private investment, there were calls
from both COP/CMP President Korolec and UN Secretary General Ban
Ki-moon for the mobilisation of finances from a wide range of
sources, including private investment. This was echoed by the
Global Environment Facility (GEF), the entity
charged with management of the convention's financial
mechanism, who referred to public finance as merely
