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Introduction
This chapter discusses the international regulation of the transfer of finance and technology from developed to developing countries for the purposes of climate change mitigation and adaptation, subject to the principle of sustainable development. Much of the transfer in wealth and knowledge that occurs under this heading is aimed at building resident expertise in developing countries (capacity-building) and nudging economic development in the direction of greater sustainability. In the context of climate change, aiding sustainability means helping developing countries cope with the expected climate impacts better than they would have otherwise – that is, with greater ‘resilience’ and less human suffering – while also helping those countries to increase their economic growth.
How is the world to facilitate sustainable economic growth in the least developed of developing countries? How are the large annual revenues pledged to date (US$30 billion in 2010–12, US$100 billion per year by 2020) to be raised and distributed? We shall describe the role of the Global Environment Facility (GEF) in the UNFCCC structure, review the latest initiatives in the international regulation of climate-related finance and technology transfer, examine the role Australia has played in the dissemination of resources for adaptation and mitigation, and discuss the ongoing challenges in this area, in particular the role of intellectual property rights as a facilitator of or obstacle to change.