Biennial assessment and overview of climate finance flows 2014Background
At the seventeenth session of the Conference of the Parties (COP), Parties mandated the Standing Committee on Finance (SCF) 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 SCF, 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 (MRV) of support and the tracking of climate finance.
Additionally, at COP 19, the SCF 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 SCF has developed 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 SCF has also developed a proposed outline for the biennial assessment and overview of climate finance flows. Relevant SCF 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 SCF discussions on this topic.
Side event New!
During the fortieth session of the Subsidiary Bodies, the SCF will organize a side event on Sunday 8 June from 13:15 to 14:45: "Biennial assessment and overview of financial flows - update of the work of the SCF and inputs from collaborating institutions". This event will give the opportunity to the SCF 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. More information will be provided soon.
In the beginning of 2014, the SCF invited inputs from interested stakeholders to support its work on the biennial assessment and overview of climate finance flows in general, as well as on the objective, scope and proposed outline of the biennial assessment and overview of climate finance flows in particular. More specifically, the SCF invited interested stakeholders to provide information on the following topics:
Submissions received following calls for input by the Standing Committee on Finance in 2013
In 2013, the SCF also called for submissions on elements to be taken into account for the development of a work programme on measurement, reporting and verification of support and the conduct of the biennial assessments and overview of climate finance flows in 2014.
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