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Review of the Financial Mechanism


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 pdf-icon decision 3/CP.4 (153 kB) containing the guidelines states that the objective of the review of the Financial Mechanism is to take appropriate measures regarding:

(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.
The additional elements of the guidelines including the objectives were added by decision 6/CP.13.
Four reviews of the Financial Mechanism of the Convention have been conducted in the past, with the most recent review completed at COP 16.

Recent Developments

In accordance with decision 8/CP.18, the Standing Committee on Finance (SCF) considered the elements on the fifth review of the Financial Mechanism through the meetings held in 2013, and included in its report to COP 19 the outcome of the discussions on the draft updated guidelines for the fifth review of the Financial Mechanism of the Convention. Based on this, Parties at COP 19 further considered the elements and decided to adopt the updated guidelines annexed to thepdf-icon decision 8/CP.19 (Fifth review of the Financial Mechanism).

In addition, COP 19 requested the SCF to continue to provide expert input to the fifth review of the Financial Mechanism, with a view to the review being finalized by COP 20.




Latest Decisions

COP 19 decision

pdf-icon Decision 8/CP.19

COP 18 decision

pdf-icon Decision 8/CP.18

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Submissions by Parties
Views and recommendations on elements in the development of the further guidelines for the fifth review of the Financial Mechanism
Relevant documents
First annual report to the COP on the operation of the registry of nationally appropriate mitigation actions