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Biennial Assessment and Overview of Climate Finance Flows 2014


Background

At the seventeenth session of the Conference of the Parties (COP), Parties mandated the Standing Committee on Finance to prepare a biennial assessment and overview of climate finance flows, to include information on the geographical and thematic balance of such flows, drawing on available sources of information, including national communications and biennial reports of both developed and developing country Parties, information provided in the registry, information provided by Parties on assessments of their needs, reports prepared by the operating entities of the Financial Mechanism, and information available from other entities providing climate change finance.

At COP 18, Parties further requested the Standing Committee on Finance, in preparing the first biennial assessment and overview of financial flows, to consider ways of strengthening methodologies for reporting climate finance and to take into account relevant work by other bodies and entities on the measurement, reporting and verification of support and the tracking of climate finance.

Additionally, at COP 19, the Standing Committee on Finance was requested, in the context of the preparation of its biennial assessment and overview of climate finance flows, to consider ongoing technical work on operational definitions of climate finance, including private finance mobilized by public interventions, to assess how adaptation and mitigation needs can most effectively be met by climate finance.

Developed country Parties were invited to submit to the secretariat, by May 2014, information on the appropriate methodologies and systems used to measure and track climate finance.

Following its mandates, the Standing Committee on Finance has developed pdf-icon a timeline as well as the objective and scope of the first biennial assessment and overview of climate finance flows (89 kB) based on which it will conduct the actual assessment in 2014. The Standing Committee on Finance has also developed pdf-icon a proposed outline for the biennial assessment and overview of climate finance flows. Relevant Standing Committee on Finance meeting background documents with regards to the biennial assessment and overview of climate finance flows can be found here, which served as basis for the Standing Committee on Finance discussions on this topic.



Work plan for the preparation of the first biennial assessment and overview of climate finance flows

Biennial Assessment

The preparation of the first biennial assessment and overview of climate finance flows involves technical work such as meta-data and information gathering from multiple sources, which in turn informs the work of the Standing Committee on Finance.

The technical work combines literature review with virtual and in-person technical meetings involving external contributors specialising in [measurement, reporting and verification of climate finance flows][climate finance tracking and reporting]. External contributors providing inputs include organisations that follow the work of the Standing Committee on Finance such as multilateral development banks, development finance institutions, international organizations, research institutions and think tanks, private sector financial institutions, academia, civil society organizations.

The literature review for the first biennial assessment and overview of climate finance flows is organised in three research tracks. Each track conducts research and gathering of data sets from primary and secondary data providers.

  • Research track I: This track review methodologies used to measure, report and verify different types of flow.
  • Research track II: This track collects data sets and any other relevant quantitative and qualitative information on current climate finance flows. 
  • Research track III: This track carries out research relevant to the assessment part of the biennial assessment and overview of climate finance flows.

Technical meetings

Technical meetings are organised in conjunction with Standing Committee on Finance meetings, and designed as focused meeting, each covering specific sets of topics.

  • pdf-icon First technical meeting (269 kB) was held on 6 March, 2014. This meeting examined issues relating to comparability of climate finance definitions and methodologies for measuring, reporting, and verifying different types of financial flows. It also addressed needs for data on current climate finance flows. 
pdf-icon List of Participants (230 kB)
  • pdf-icon Second technical meeting (158 kB) was held on18 June, 2014. This mini-workshop will focus on assessment of climate finance flows. Participants also exchanged views on data needs in the future, and ways to improve data availability, quality and coverage.
pdf-icon List of Participants (220 kB)

The technical work will be carried out in steps throughout 2014 [see indicative timeline above], and will culminate with a technical report and recommendations of the Standing Committee on Finance to COP 20.


Side event        

During the fortieth session of the Subsidiary Bodies, the Standing Committee on Finance organized a side event on "Biennial assessment and overview of financial flows - update of the work of the Standing Committee on Finance and inputs from collaborating institutions". This event gave the opportunity to the Standing Committee on Finance to both provide an update on the progress made for the preparation of the first BA, and to further engage with Parties and all relevant stakeholders on ways to advance the work.

pdf-icon Programme (146 kB)

pdf-icon Presentation (146 kB)


Sources of data on climate finance

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