Mandate and background

In 2017 and 2021, the COP requested the UN Climate Change secretariat to explore ways and means to assist developing country Parties in assessing their climate finance needs and priorities, in a country-driven manner and to translate these needs into action (Long-term finance decision 6/CP.23, para 10; Long-term finance decision 4/CP.26, para 22). The secretariat was also requested by the CDM Executive Board to facilitate the financing of projects and use of the CDM by international finance institutions, as requested by the CMP (3/CMP.1, Annex, para B 4(d), para C 5(i); 6/CMP.11, para 8; 12/CMA.1).
In response to these mandates the UN Climate Change secretariat launched the Needs-based Finance (NBF) project with the objective of facilitating access and mobilization of climate finance for the implementation of priority mitigation and adaptation projects to address the needs identified by developing countries.

Approach

The NBF approach is being implemented as regional projects and national projects in over 100 countries.