Standing Committee on Finance (SCF)

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.

SCF Co-Chairs speak on deliverables for COP 27

In this video, the Co-Chairs of the Standing Committee on Finance, Zaheer Fakir and Gertraud Wollansky, discuss the role of the Convention and the Paris Agreement in helping countries finance climate change, the most important contribution of the SCF in the last decade, the Committee's support to the 100$ billion pledge and preparations for COP 27.

More about the Co-Chairs

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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

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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.

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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.
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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)

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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.
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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.
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Other documents

Financial Institutions

UNFCCC Constituted Bodies

Background

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