Standing Committee on Finance (SCF)

Retreat of the Standing Committee on Finance, Kirstenbosch National Botanical Graden, Cape Town, South Africa, 21 March 2022

Credit: UNFCCC

SCF Flyer

SCF Forum – Finance for Nature-based Solutions, 15–16 October 2021. More information

Credit: Maliz Ong

2019 SCF Forum Report

Credit: UNFCCC

2020 Report to the Conference of the Parties

Credit: UNFCCC

Fourth (2020) Biennial Assessment and Overview of Climate Finance Flows

29^thStanding Committee on Finance Meeting

Date: 29 September – 1 October 2022
Venue: Cairns, Australia
More information on the meeting

Forum of the Standing Committee on Finance
"Finance for Nature-based Solutions (Part II)"

Date: 26 – 28 September 2022
Venue: Cairns, Australia
More information on the Forum

Preparation of the draft guidance to the operating entities of the Financial Mechanism

In accordance with decision 2/CP.17, paragraph 121 (c), the SCF prepares draft guidance to the operating entities of the Financial Mechanism with a view to improving the consistency and practicality of guidance. The SCF, at its 29th meeting, will prepare the draft guidance to be submitted to COP 27, taking into account annual reports of the operating entities and submissions from Parties.

2022 annual report of the Green Climate Fund to the Conference of the Parties (advance version) is now available. Please click here to download. The report of the Global Environment Facility will be made available in due course.
Database of previous guidance provided to the operating entities is available here:
Green Climate Fund; Global Environment Facility.
Parties are invited to submit their views and recommendations on elements of guidance for the operating entities, in accordance with decision 6/CP.26, paragraph 16 and decision 7/CP.26, paragraph 19.
Parties are advised to use an MS Word template prepared by the SCF to prepare for their submissions.
All submissions should be uploaded on the UNFCCC Submissions Portal (search filter: 2022, COP).

Webinar on capturing latest updates on climate finance flows: Data, effectiveness and definitions

Date: 4 August 2022
Time: 14:00-15:30 CEST

Further information can be viewed here

Call for inputs: definitions of climate finance

In response to COP26 and CMA3 mandates and building on the work undertaken in 2021, the SCF aims to seek further inputs on definitions on climate finance. Further information can be found here

Call for inputs: information and data for the preparation of the report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year to address the needs of developing countries in the context of meaningful mitigation actions and transparency of implementation

By decision 4/CP.26, the SCF has initiated the preparation of the report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year to address the needs of developing countries in the context of meaningful mitigation actions and transparency of implementation, and is looking for inputs in accordance with the outline approved at its 27th meeting. More information can be found here

Call for evidence: information and data for the preparation of the fifth Biennial Assessment and Overview of Climate Finance (BA) Flows

SCF has initiated the preparation of the fifth BA, and is looking for evidence on: 1) Methodological issues relating to measuring, reporting, and verifying climate finance flows; 2) Data on climate-related finance flows; and 3) Assessment of the effectiveness of climate finance flows, including drivers, impact results, meeting needs, and access. More information can be found here

Launching event of the fourth (2020) Biennial Assessment and Overview of Climate Finance Flows and the first report on the determination of the needs of developing country Parties related to implementing the Convention and the Paris Agreement. Further information can be viewed here

Background

At the sixteenth session of the Conference of Parties (COP), Parties decided to establish a Standing Committee on Finance to assist the COP in exercising its functions in relation to the Financial Mechanism of the Convention. This involves:

improving coherence and coordination in the delivery of climate change financing,
rationalization of the Financial Mechanism,
mobilization of financial resources, and
measurement, reporting and verification of support provided to developing country Parties.

Activities of the Standing Committee on Finance

• Biennial Assessment and Overview of Climate Finance Flows

	At COP 17, Parties mandated the Standing Committee on Finance to prepare a biennial assessment and overview of climate finance flows.
More information related to the Biennial Assessment and Overview of Climate Finance Flows

• Determination of the needs of developing country Parties related to implementing the Convention and Paris Agreement

	At COP 24, Parties requested the Standing Committee on Finance to prepare, every four years, a report on the determination of the needs of developing country Parties related to implementing the Convention and the Paris Agreement, for consideration by the COP and the CMA, starting in 2020.
More information related to the determination of the needs of developing country Parties related to implementing the Convention and the Paris Agreement

• Report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year by 2020 through to 2025

Credit

COP 26 requested the SCF to prepare a report in 2022 on progress towards achieving the goal of mobilizing jointly USD 100 billion per year to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation, for consideration at COP 27.

More information

• Measurement, Reporting and Verification of Support Beyond the Biennial Assessment and Overview of Climate Finance Flows

	At COP 19, the Standing Committee on Finance was invited to consider ways to increase its work on the measurement, reporting and verification of support beyond the biennial assessment and overview of financial flows. COP 20 also requested the SCF to further explore how it can enhance its work on the MRV of support.
More information

• Draft Guidance to the Operating Entities of the Financial Mechanism

Parties have mandated the Standing Committee on Finance to provide to the COP draft guidance for the operating entities of the Financial Mechanism of the Convention, with a view to improving the consistency and practicality of such guidance, taking into account the annual reports of the operating entities as well as submissions from Parties. More information to be provided shortly.

• SCF Forum


	The SCF Forum exists for the communication and continued exchange of information among bodies and entities dealing with climate change finance in order to promote linkages and coherence. The SCF was mandated by the Conference of the Parties (COP), at its 17th session, to organize a Forum. The SCF reports on the Forum in its annual reports to the COP.
2022 SCF Forum - "Finance for Nature-based Solutions" (Part II) 2021 SCF Forum - "Finance for Nature-based Solutions" (Part I) Report
2019 SCF Forum - "Climate Finance and Sustainable Cities" Report
2018 SCF Forum - "Climate Finance Architecture - Enhancing collaboration, seizing opportunities" Report (Annex III of 2018 SCF annual report)
2017 SCF Forum - "Mobilizing Finance for Climate-Resilient Infrastructure" Report (Annex V of 2017 SCF annual report)
2016 SCF Forum - "Financial instruments that address the risks of Loss and Damage" Report (Annex III of 2016 SCF annual report)
2015 SCF Forum - "Enhancing coherence and coordination of forest financing" Report (Annex II of 2015 SCF annual report)
2014 SCF Forum - "Mobilizing Adaptation Finance" Executive Summary (Annex IV of 2014 SCF annual report); Full Report
2013 SCF Forum - "Mobilizing Finance & Investment for Climate Action Now" Report (Annex II of 2013 SCF annual report)

More information

• Coherence and Coordination: Financing for Forests, taking into account different policy approaches

	COP 19 requested the Standing Committee on Finance to consider, in its work on coherence and coordination, inter alia, the issue of financing for forests, taking into account different policy approaches, and requested the Standing Committee on Finance to focus its soonest possible forum on issues related to finance for forests.
More information

• Possible future institutional linkages and relations between the Adaptation Fund and other institutions under the Convention

	COP 20 requested the Standing Committee on Finance to consider issues related to possible future institutional linkages and relations between the Adaptation Fund and other institutions under the Convention. In this context, the Standing Committee on Finance has called for submissions from members, observers and thematic bodies under the Convention by 8 May 2015.
More information