This paper builds a case for the need to clarify the assumptions, methodologies, and other critical details underlying non-Annex I nationally appropriate mitigation actions (NAMAs). It also explains how common accounting rules for Annex I targets will resolve the lack of clarity surrounding targets for developed countries. It concludes with decisions that can be made in COP17 Durban to formalize both common accounting rules for Annex I targets and a clarification process for non–Annex I actions.
The UNFCCC Cancun Agreements of December 2010 marked an important step forward for transparency of country actions to respond to climate change. In addition to creating a new standard for the way countries report on their national climate commitments and actions, the agreements mandated advances in the reporting and review of countries’ climate finance contributions.
Developed countries have collectively pledged USD 30 billion from 2010-2012 to support developing countries’ climate efforts. This pledge, known as “fast-start finance,” was initially made in Copenhagen in 2009, and reiterated in the 2010 Cancun Agreements.
Last month’s international climate negotiations in Cancun showed progress on many fronts, especially in ensuring greater transparency in countries’ emissions reporting.
Open Climate Network (OCN), a global network that will track countries’ progress toward cutting emissions and providing climate finance, was launched this week at the UNFCCC Conference of the Parties in Cancun, Mexico.
This issue brief discusses different ways to improve the current system for reporting and compiling information on public financing for climate change. Its goal is to help Parties to the UNFCCC develop robust reporting processes for climate finance.
