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The Standing Committee on Finance will launch its two flagship products, the 4th Biennial Assessment and Overview of Climate Finance Flows and the first report on the determination of the needs of developing country Parties.

Objectives

The purpose of this event is to present the two flagship products of the Standing Committee on Finance (SCF), the fourth (2020) Biennial Assessment and Overview of Climate Finance Flows (BA) and the first report on the determination of the needs of developing country Parties related to implementing the Convention and the Paris Agreement (NDR).

In the context of the fourth BA, the event aims to:

• Enhance the collective understanding of the state of play with regard to the trends of climate finance flows;
• Highlight recent developments related to transparency of climate finance information; and
• For the first time, present a chapter dedicated to Article 2.1(c) of the Paris Agreement, including available information relevant to making finance flows consistent with a pathway towards low GHG emissions and climate-resilient development.

In the context of the first NDR, the event aims to:

• Enhance collective understanding of the available quantitative and qualitative information on the needs of developing country Parties related to implementing the Convention and the Paris Agreement, including inter alia, information on climate finance costs and investment needs;
• Highlight processes and approaches utilized for determining the needs of developing country Parties and underlying assumptions and methodologies; and
• Highlight opportunities, challenges, gaps and opportunities in determining needs.

Focus

This event provides an opportunity for the SCF to present the key findings of both SCF flagship products, namely the fourth BA and first NDR to a broader audience. On one hand, it will focus on climate finance flows for the period 2017−2018 and the trends since 2011, their implications and relevance to international efforts to address climate change, the information on Article 2.1(c) of the Paris Agreement, as well as developments with respect to climate finance tracking and reporting. On the other hand, it will provide an overview of information on the needs of developing country Parties reported in national, regional and global reports, and highlight processes and approaches utilized, as well as challenges, gaps and opportunities in determining needs.

Keynote presentations will highlight the key findings contained in the “Summary of the fourth BA” and “Executive summary of the first NDR” by the Standing Committee on Finance included in Addendum I and Addendum II of the annual report of the SCF to COP26 and CMA 3.

Participation

The side event will be chaired by the Co-chairs of the SCF with active participation of other SCF members, and other relevant stakeholders and collaborators. The event will be open to Parties and observers, including the climate finance tracking and reporting community and media representatives.

Provisional programme