UN Climate Change News, 6 February 2020 - The Standing Committee on Finance (SCF) has opened calls for contributions and case studies in order to prepare two key technical reports related to climate finance. The findings of the reports will be considered at this year’s UN Climate Change Conference (COP26) in Glasgow in November.
At COP26, governments will deliberate on the joint goal of mobilizing USD 100 billion per year of climate finance by 2020 and initiate discussions on setting a new climate finance goal for the post-2025 period.
Financial resources are needed not only to significantly reduce greenhouse emissions, which requires large-scale investments, but also to adapt to the adverse effects and reduce the impacts of a changing climate.
The two reports in question are:
1) Determining the needs of developing countries related to implementing the Climate Change Convention and the Paris Agreement.
The first of its kind, the report will include available data by sector for the areas of mitigation, adaptation, loss and damage, technology and capacity-building, across Africa, Asia-Pacific, Eastern Europe, Latin America and the Caribbean. The SCF is looking for information, inter alia, on processes and approaches utilized for the determination of needs of developing country Parties; underlying assumptions and methodologies; and challenges, gaps and opportunities.
2) 2020 Biennial Assessment and Overview of Climate Finance Flows.
Prepared by the SCF, the BA draws on available information on how financial resources are being deployed to tackle climate change. For the first time, it will include information related to tracking progress on making finance flows consistent with a pathway toward low emissions and climate-resilient development (also referred to as Article 2.1 (c) of the Paris Agreement).
This means that the scope of the report will go beyond dedicated climate finance to also include actions of investors, banks and corporations in financial markets. In addition, there will be more in-depth analysis of the transparency of climate finance flows from developed to developing countries and the associated impact.
The SCF is looking for information, inter alia, on methodological issues relating to measuring, reporting and verifying climate finance flows; data on climate-related finance flows; assessment of the effectiveness of climate finance flows, including drivers, impact results, meeting needs, and access; and information relevant to Article 2.1 (c) of the Paris Agreement.
The report will inform the 4th High-level Ministerial Dialogue on Climate Finance to be held at COP26 and later the Global Stocktakes, designed to assess the adequacy of climate action by the international community.
Who can contribute?
Governments and national institutions, development finance institutions and funds, research and other organizations that may have relevant information.
How to submit your response
Information and data may be submitted before 28 February 2020 via email to: Standingcommittee@unfccc.int. Submissions will be available on the information repository on the UNFCCC website.
Read more on Call for Contributions – 2020 Needs Report
Read more on Call for Contributions – 2020 BA
About the Standing Committee on Finance
The Standing Committee on Finance (SCF) was established by the Conference of the Parties (COP) at its 17th session. One of the functions of the SCF is to assist the COP with respect to the measurement, reporting and verification of the support provided to developing country Parties through activities such as the preparation of the BA. The next meeting of the SCF will take place from 19-20 March 2020 in Bonn, Germany.