This report contains information on the outcomes of the work of the Standing Committee on Finance (SCF), including its meetings, in 2016. The report also contains: the summary and recommendations by the SCF on the 2016 biennial assessment and overview of climate finance flows; the summary report on the 2016 SCF forum; the two draft decisions containing draft guidance to the operating entities of the Financial Mechanism of the Convention; the recommendation on frequency of guidance to the Green Climate Fund; the summary of the side event on “Enhancing coherence and coordination of forest finance”; an overview of mandates provided to the SCF by the Conference of the Parties compared to outputs delivered by the SCF in the years 2011–2015; and a list of members of the SCF.