1. Special Climate Change Fund (SCCF)
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- The Special Climate Change Fund (SCCF), established in 2001 under the Convention, finances projects related to adaptation, technology transfer, capacity building, energy, transport, industry, agriculture, forestry, waste management, and economic diversification.
- The Global Environment Facility (GEF) operates the SCCF as an operating entity of the financial mechanism.
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2. Finance Mechanism for Climate Change
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- Financial resources available to Non-Annex I Parties to the UNFCCC include three modules:
- The “National Communications Module” presents information communicated by Annex II Parties regarding financial resources for Convention implementation through their fourth and fifth national communications.
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Fast-Start Finance
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Details
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- Developed countries pledged during COP15 in Copenhagen (December 2009) to provide new and additional resources, approximately USD 30 billion for 2010-2012, with a balanced allocation between mitigation and adaptation.
- COP16 in Cancun (December 2010) acknowledged this collective commitment and prioritized adaptation funding for the most vulnerable developing countries, including the least developed countries, small island developing States, and Africa.
- COP17 welcomed the fast-start finance provided by developed countries for the period 2010-2012, urged enhanced transparency in reporting, and noted information on the fulfillment of fast-start finance commitments.
- The “Funds Managed by the GEF Module” is a collaboration between the UNFCCC secretariat and the GEF secretariat. It presents information on financial flows channeled, mobilized, and leveraged by the GEF as an operating entity of the UNFCCC Financial Mechanism.
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