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Review of the Financial Mechanism
 

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 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.19, the Standing Committee on Finance (SCF) provided expert input to the fifth review of the Financial Mechanism with a view of the review being finalized by Parties at COP 20.

The SCF prepared a pdf-icon technical paper on the fifth review (1085 kB) and included the pdf-icon executive summary of the technical paper in its report to COP 20 for consideration by the COP.

At COP 20, Parties concluded the fifth review of the Financial Mechanism and endorsed the expert input by the SCF, which the COP agreed to annex to the decision on the fifth review of the Financial Mechanism.

Parties also decided on a concrete timeline for the sixth review of the Financial Mechanism. In this regard, Parties agreed to initiate the sixth review of the Financial Mechanism at COP 22 and requested the SCF to provide expert input to the sixth review of the Financial Mechanism in 2017 with a view to the review being completed by COP 23.

 
 

 

 

 
Latest Decisions
pdf-icon Decision -/CP.20
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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

pdf-icon Technical paper on the fifth review of the financial mechanism prepared by the SCF (1085 kB)

SCF report to COP 20 (FCCC/CP/2014/5)