Reformed Financial Mechanism of the UNFCCC

The success of the current international climate change negotiations crucially depends on how much finance is going to be made available to support developing country climate change activities, and it is unlikely that adequate financing will be forthcoming in the absence of an acceptable governance framework.
The substantive aims of the project focused on four areas to generate recommendations on:

• How to design decision making processes and remits for the UNFCCC COP and RFM Executive Board so as to ensure sufficient political oversight and buy-in, without the danger of over-politicized micro-management of the RFM management of its financial flows.
• How to insure proper stakeholder representation, in particular, how to design the selection of stakeholder representatives, and how to design their role in the decision-making process.
• How to design independent oversight (audit, monitoring, and evaluation) procedures within the framework of existing legal arrangements which will provide sufficient safeguards against malpractice both at the international and the national level.
• How to oversee financial flows for compliance with financial commitments.

The Synthesis report (available here) presents the key results of the second phase of a major analytic project on a reform of the Financial Mechanism of the UN Framework Convention on Climate Change (UNFCCC).

Further publications on the topic may be found on www.oxfordclimatepolicy.org

Reports

Under the Authority of the COP? - Working Paper
09 Nov 2009. Author: Benito Müller

Is there room for compromise? - Working Paper
01 Oct 2009. Author: Benito Müller

The Reformed Financial Mechanism of the UNFCCC - Working Paper
30 Apr 2009. Author: Benito Müller