dollars) for sectors attempting to deal with climate change (figure 3.20). In addition to ODA, there are other sources of international financing to help developing countries address the challenges of climate change, in terms of both mitigation and adaptation. These include the Clean Technology Fund, the GEF Trust Fund - Climate Change focal area (GEF 4 and 5), the Amazon Fund (Fundo Amazônia) and the Hatoyama Initiative.

Although estimating the costs of GHG mitigation is a complex task, involving a high degree of uncertainty due to the numerous variables involved (Galindo, 2009), studies have been conducted in the region for a number of countries. These identify potential mitigation measures in different sectors, along with the associated costs. The cost of mitigation varies according to sector, region and country. Generally, however, there are effective and practical options that could be adopted in the developing countries, amounting to a cost of 40 euros or less per ton of CO2

(Enkvist et al., 2007).

The mitigation actions announced by the non- Annex I countries in the framework of the “Copenhagen Accord”, as set forth in their respective national climate change plans (Fransen et al., 2009), have, as a common feature, initiatives geared to the sectors that generate and use energy, as well as to the transportation and forest sectors. The associated costs are consistent with the lowest marginal costs of reducing emissions reported in the Regional Studies on the Economics of Climate Change (ECLAC, 2009). In Mexico, for example, there is the potential for significant emissions reductions in the transportation sector, as well as in the overall energy sector (Galindo, 2009), while Uruguay continues to have significant options for mitigation related to agricultural activities. The marginal costs of some of the main mitigation measures for Mexico, Central America and Uruguay are presented in figures 3.21, 3.22, and 3.23 respectively.

Official Development Assistance Million US dollars, cumulative 2000-2007

Cumulative assistance disbursed in Latin America and the Caribbean, Rio Markers

1 200 1 000 800 600 400 200 0

Desertification Climate change

Biodiversity and desertification

Biodiversity

Climate change and desertification

Biodiversity, climate change and desertification

Biodiversity and climate change

Total cumulative assistance disbursed

Latin America and the Caribbean Others

8.2%

Latin America and the Caribbean

0.3% Rio Markers

Rest of the World 91.5%

Source: ECLAC, on the basis of OCDE, OCDE StatExtracts, online database , accessed August 2009.

Figure 3.20

The statistics, charts and maps presented in this report illustrate both the urgency of taking action and the significant benefits that could be gained from promptly undertaking adaptation measures, reducing regional vulnerability to climate change and mitigating the region’s contribution to global GHG emissions.

The report shows that Latin American

and the Caribbean countries will need significant resources and assistance to reduce vulnerability and build resilience against the increasingly prominent and harmful impacts of climate change. Moreover, it demonstrates the growing need for regional coordination and sharing of best practices in making sound

35