At COP 19 in Warsaw, Parties agreed to convene biennial high-level ministerial dialogues on climate finance starting in 2014 and ending in 2020.
At COP 22, Parties decided that the 3rd high-level ministerial dialogue will be informed by the reports on the in-session workshops on long term climate finance and the 2018 biennial assessment and overview of climate finance flows to be prepared by the SCF. Parties at the COP also decided that the 2017 and 2018 long-term climate finance in-session workshops should focus on: a) articulating and translating needs identified by developing countries into projects and programmes; b) roles of policies and enabling environments for mitigation and adaptation finance and c) facilitating enhanced access.
At COP 23 in Bonn, Parties invited the Presidency of the COP to consider a focus on the topic of access to climate finance when organizing the 3rd high-level ministerial dialogue.
Purpose of the dialogue
The 3rd high-level ministerial dialogue on climate finance was held at COP 24 in Katowice to provide a clear vision on how to ensure further progress on the mobilization of climate finance, that is supported by a broad range of Parties.
The dialogue focused on concrete efforts and initiatives on mobilizing finance and investment to translate climate finance needs into action and on enhancing developing countries’ access to climate finance. Against this background, announcements and acknowledgements of initiatives that have successfully mobilized climate finance and enhanced cooperation on this issue were made. In line with the invitation of the COP, the dialogue paid particular attention to the issue of access to climate finance. Space was also provided to the Standing Committee on Finance to present the findings of its 2018 biennial assessment and overview of climate finance flows.
The Dialogue took place on 10 December 2018, between 15:00 and 18:00 hrs. It was opened by the President of COP24, CMP14 and CMA1, H.E. Mr. Michał Kurtyka, Minister, Ministry of Environment of Poland, and moderated by high-level climate finance experts.
High-level multi-stakeholder panel discussions took place in two distinct sessions followed by a final session consisting of an open discussion in plenary where other ministers, State representatives and high-level representatives of observer organizations were invited to provide their views on the topics addressed by the different panel discussions and, as appropriate, inform the audience of any actions or initiatives relevant to the focus area of the event. Ministers were encouraged to come prepared for an interactive and lively dialogue on the aforementioned issues.
The Dialogue was held in an enhanced plenary setting conducive to interactive discussions. The event was open to observers. Simultaneous translation into the official languages of the United Nations was provided and the event was webcast.
Previous high-level ministerial dialogues on climate finance
The 1st high-level ministerial dialogue was held at COP 20 in 2014 in Lima and provided Ministers and State representatives with an opportunity to reflect collectively on the path to meet the climate financing needs faced by developing countries, including the USD 100 billion goal.
The 2nd high-level ministerial dialogue at COP 22 in Marrakech was informed by the 2016 Biennial Assessment and Overview of Climate Finance Flows by the Standing Committee on Finance (SCF) and the 2016 in-session workshop on long-term finance. Ministers discussed adaptation finance, the need for support to developing country Parties, cooperation on enhanced enabling environments and support for readiness activities. The dialogue provided a clear political signal on the need to enhance access to and the delivery of climate finance, particularly for adaptation, as well as the need to enhance the tracking of climate finance flows and measuring their impact. Furthermore, the important role of Ministers of Finance in promoting the mobilization of climate finance and in transitioning to low carbon and climate-resilient economies, including through country-driven budgetary and fiscal policies aligned with climate change targets, was highlighted.