Financial Mechanism and Technology Transfer for Protection of Global Environment

Abstract

Financial mechanism and technology transfer has become backbone of international environmental law application and policy making in light of sustainable development goals.  In a decade the rules on finance and technology transfer have developed significantly.  Financial resources and technology transfer were the prime issue at UNCED, it is also included in AGENDA- 21, further in 1992 climate change summit and biodiversity convention including Nagoya protocol 2010, Cartegna protocol contains expressed provision of financial mechanism and technology transfer. This paper aims to cover such provisions and explore the options available that how these two ingredients can be effective in protecting the global environment. Further financial resources and technology transfer occupy central place in legal arrangements of international environmental law at regional and global levels. In this regard experience of montreal protocol provides some grounds for optimism, although issues like climate change adaptation demands financial resources and technical assistance of much greater order of magnitude. As environmental development is intimately related to socio-economic development. This term paper includes legal framework of financial and transfer of technology inclusion as well as institutional frame work under various environmental conventions and protocols. Financial mechanism and transfer of technology is mainly aimed at developing and least developing countries for their sustainable development which can contribute towards the development of global environment as it is the allegation of developed countries that the developing countries industrialization process and economic activities are key cause for degradation of ozone layer and environment. So developed countries have to some extent took initiative to help and assist the developing countries in funding and transfer of clean and so called green technology. As most of the works and strategy with regard to finance and planning is undertaken by UNEP.