| Review of the financial mechanism |
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Introduction
The Conference of Parties (COP), at is fourth session, decided to review the financial mechanism of the
Convention every four years in accordance with Article 11.4 of the Convention. The annex to (a) Its conformity with the provisions of Article 11 of the Convention; (b) Its conformity with the guidance of the COP; (c) The effectiveness of the activities it funds in implementing the Convention; (d) Its effectiveness in providing financial resources on a grant or concessional basis, including for the transfer of technology, for the implementation of the Convention's objective on the basis of the guidance provided by the COP; and
(e) Its effectiveness in providing resources to developing country Parties under Article 4.3 of the
Convention. |
| Recent Developments |
At its 18th session, the COP decided to initiate the fifth review of the financial mechanism, in accordance
with the criteria contained in the guidelines as identified in decisions 3/CP.4 (153 kB) and 6/CP.13, as well as
further guidelines that may be developed.Furthermore, the COP requested the Standing Committee to further amend the guidelines for the review of the financial mechanism. Additionally, it was requested to provide draft updated guidelines for consideration and adoption by the COP 19, with a view to finalizing the fifth review of the financial mechanism for consideration by COP 20. In developing these guidelines, the Standing Committee is to take into account existing guidelines and recent developments within the financial mechanism of the Convention, and to draw upon information from, inter alia, fast-start finance, the work of the Green Climate Fund, taking into account its early stage of operationalization, the initial review of the Adaptation Fund and the work programme on long-term finance. Furthermore, the Standing Committee was requested to provide periodic updates on the status of its work to the Subsidiary Body for Implementation for its consideration, beginning at its thirty-eighth session. Parties were invited to submit to the secretariat by 1 March 2013 for consideration by the Standing Committee their views and recommendations on elements in the development of the further guidelines for the fifth review of the financial mechanism. |
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Updated 5 March 2013 |
| Latest Decisions |
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COP 18 decision
COP 16 decision
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