Strengthening International Climate Finance

With climate finance needs in developing countries projected to grow significantly in coming decades, governments are considering steps under the UN Framework Convention on Climate Change (UNFCCC) to strengthen international climate finance. Key steps include: establishing a new multilateral climate fund with an independent board under the guidance of the UNFCCC Conference of the Parties (COP); a new UNFCCC finance body to advise the COP and promote coordination among funding institutions; a registry mechanism to link finance to mitigation actions; and stronger procedures for reporting and verifying flows.