The Conference of Parties (COP), at its 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 decision 3/CP.4 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.
Five reviews of the Financial Mechanism of the Convention have been conducted in the past, with the most recent review completed at COP 20.
The COP, by decision 9/CP.20, agreed to initiate the sixth review of the Financial Mechanism at COP 22 and requested the Standing Committee on Finance (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.
The COP, at its twenty-second session in Marrakech, adopted the updated guidelines for the sixth review of the Financial mechanism and requested the SCF to provide expert input to the review, with a view to finalizing the review at COP 23.
The COP invited Parties, observers and other interested international organizations, stakeholders and non-governmental organizations involved in the activities of the operating entities of the Financial Mechanism to submit, by 30 April 2017, their views on the review based on the guidelines for consideration by the SCF in preparing its expert input to the review.
The SCF, at its fifteenth meeting held in March 2017, agreed on a concept note on the preparation of its expert inputs to the sixth review of the Financial Mechanism and organization of its work in 2017 to prepare its expert inputs, as contained therein. Please visit the SCF 15 meeting documents page for more information.
The COP, at its twenty-third session in Bonn, agreed on a decision on the sixth review of the Financial Mechanism, thereby concluding the sixth review. The seventh review of the Financial Mechanism will be initiated at COP 26 (November 2020).
Last updated: 23 November 2017