The CFSG reaffirms in 2015 that all its work and discussions held are respectful of the principles, provisions and objectives of the United Nations Framework Convention on Climate Change – UNFCCC. The purpose of this exercise is to provide inputs for the consideration of member countries, to take-up in accordance to their national circumstances and preferences.
Areas of focus 2015
• The CFSG worked first on Improving the collaboration, dialogue and cooperation between climate funds to ease the understanding of the global climate funds landscape and better address developing countries’ demand in mitigation and adaptation financing. The CFSG welcomes the Inventory Study on Climate Funds prepared by the Organisation for Economic Co-operation and Development (OECD) to better capture this climate funds landscape.
• The CFSG focused then on Adaptation financing for developing countries, especially those that are particularly vulnerable to the adverse effects of climate change, with a view to helping them overcome their capacity problems to access finance and also unlock adequate amount of financing. The CFSG welcomes the Toolkit to Enhance Access to Adaptation Financing prepared with this regard by the OECD with support from the Global Environment Facility (GEF).
• More generally, to unlock adequate amount of financing for both mitigation and adaptation actions, the CFSG worked on Sharing experiences on public finance mobilization, with a focus on (i) provision of international public finance to support developing countries mitigation and adaptation investments; (ii) public interventions that mobilize private finance, including drivers and barriers to improve leveraging effect.
• To enhance the leveraging effect of public funding on private sector investments, the CFSG focused on Promoting effective financial instruments and approaches to enhance climate finance and stimulate climate-friendly private investment: (i) Green bonds; (ii) Risk-sharing instruments; (iii) GHG emission pricing approaches.