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Environmental Financing: Function and Coherence of Financial Mechanisms in International Environmental Agreements

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This article focuses on the body of international institutional and substantive law concerning financial assistance, mainly within the scope of international environmental agreements. In this respect the functions of financial mechanisms, their institutional setting and operation will be compared and evaluated. Since the coherence of financial mechanisms is a crucial factor for their effectiveness, special attention will be given to the issue to what extent different mechanisms overlap or collide with one another or with "green" aid. In this context the extent to which Overseas Development Assistance (ODA) is subject to compliance with international environmental law is a closely related aspect. In accordance with the guiding issues of this study, the considerations how different instruments and financial institutions might form a coherent and viable framework for funding of environmental objectives and how the role of ODA should be defined in long-term environmental financing, are focused on.


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