FINANCE
66. [[Decides that the operating entities of the Financial Mechanism (the Green Climate Fund (GCF) and the Global
Environment Facility), the Least Developed Countries Fund[,] [and] the Special Climate Change Fund [and the
Adaptation Fund] shall serve the Agreement.][Reaffirms that the GCF and the Global Environment Facility shall
serve the Agreement as the operating entities of the Financial Mechanism. The Least Developed Countries Fund
and the Special Climate Change Fund administered by the Global Environment Facility will continue to serve the
Agreement.] [The CMA has the authority to modify this list.]] {Substantive overlap with Article 6, paragraph 17
of the Agreement}
67. [The CMA shall provide guidance on the policies, programme priorities and eligibility criteria for the financial
mechanism related to the Agreement. The CMA should consider the special circumstances of the LDCs, SIDS
and African States when providing such guidance. [A developing country Party in need of support is eligible to
receive support from the operating entities of the Financial Mechanism if it has communicated an NDMC under
Article 3 of the Agreement and has submitted timely reports under Article 9 of the Agreement.]] {Substantive
overlap with Article 6, paragraph 17, of the Agreement}
68. [Placeholder referring to Article 6 paragraph 18 of the Agreement]
69. [Decides to establish a process for the consideration of new and alternative sources of finance beyond existing
bilateral and multilateral sources, in accordance with the terms of reference to be developed by the COP at its
twenty-second session, with a view to the COP taking a decision on this matter at its twenty-third session;]
Option 1: (paragraph 70)
70. [Requests the IPC to prepare a recommendation for the CMA regarding the creation of a process, which should
include biennial in-session workshops, to consider progress in relation to the efforts referred to in Article 6,
paragraph 2, of the Agreement;]
Option 2: (paragraphs 70-70ter)
70. [Decides to create a process, which will include annual in-session workshops, to consider progress in relation to
the efforts of developed country Parties and other Parties included in Annex II to the Convention related to
ensuring the balance of the provision of financial resources for adaptation relative to mitigation and in line with
developing countries strategies, priorities and needs and to the efforts to improve adequacy and predictability of
resources and avoid double counting;]
70bis. [Also decides that the process referred to in paragraph 70 above will a**ess current procedures for simplifying
support for developing countries that are particularly vulnerable to the adverse impacts of climate change,
including the LDCs, SIDS and Africa;]
70ter. [Requests the secretariat to organize and prepare a summary of the annual in-session workshops referred to in
paragraph 70 above for consideration by the CMA;]
71. [Also requests the COP Presidency to appoint co-chairs for the process referred to in paragraph 70 (option 1)
above, and requests the co-chairs, with the support of the secretariat, to organize and prepare a summary of the
biennial in-session workshops referred to in paragraph 70 (option 1) above for consideration by the CMA;]
72. [Placeholder for language on thematic funding, including technology development and transfer, capacitybuilding,
REDD-plus, JMA, financing for forests, Article 6 of the Convention]
73. [Decides to consider ways to enhance the effectiveness of climate finance;]
74. [{Specification of ex-ante communication referred to in paragraph 7 of the Agreement}
(a) Information to increase clarity on the expected levels of climate finance mobilized from different sources;
(b) Information on their policies, programmes and priorities;
(c) Information on actions and plans to mobilize additional finance;
(d) Information on actions to enhance enabling environments in order to mobilize and attract climate finance
from a variety of sources;
(e) Information on investment plans to implement nationally determined contributions, including financing
needs to implement an enhanced level of ambition;]
75. [Urges developed country Parties to increase the mobilization of financial resources for the climate actions of
developing countries to USD 70 billion in 2016 and USD 85 billion in 2018, leading to achieving the existing
commitment of USD 100 billion in 2020;] {Placement proposal: to be discussed under COP agenda item on
long-term climate finance}
76. [Developed country Parties commit to mobilizing at least USD XX billion in finance for adaptation by 2018,
whilst striving to achieve a greater balance between finance for mitigation and adaptation, on a grant basis, as
well as to develop new and additional sources of finance for adaptation, including the Adaptation Fund.]
{Placement proposal: to be discussed under COP agenda item on long-term climate finance}
77. [Decides that the significant share of new multilateral funding for climate change actions should flow through
the Financial Mechanism of the Convention and the funds established under the Convention and its Kyoto
Protocol;] {Placement proposal: to be discussed under COP agenda item on long-term climate finance}
78. [Decides that adequate, predictable and sustainable financial resources for the implementation of REDD-plus
activities, including for results-based payments, shall be provided by Parties pursuing the coordination of support
to, inter alia, public and private sources, including the GCF, in accordance with relevant decisions of the COP;]
79. [Decides to support developing country Parties, including through the provision of financial resources, in
determining and reporting on their financing needs and country programming priorities for the post-2020
period;]
80. [Further decides to establish a process to review the reports of developing countries in the light of efforts to scale
up financial support to developing countries, in accordance with Article 11, paragraph 4(d) of option 2, of the
Agreement;]
81. [Ensure that the provision of financial resources, development and transfer of technology, and capacity-building
for enhanced climate actions, including for loss and damage, shall be measured, reported and verified through
modalities established under the Convention by the relevant subsidiary bodies; such modalities shall ensure that
there shall be no double counting of financial resources provided, and the environmental integrity of the
Agreement.] {Note: substantive discussions with regard to transparency are taking place with regard to Article 9
of the Agreement}
82. [Measurement, reporting and verification of financial resources, including for meeting the costs of adaptation,
transfer of technology and capacity-building, shall be provided in accordance with Article 4, paragraphs 3, 4, 5, 8
and 9, in the implementation of Article 4, paragraph 7, of the Convention, as well as financing provided through
the Warsaw International Mechanism for Loss and Damage.] {Note: substantive discussions with regard to
transparency are taking place with regard to Article 9 of the Agreement}
83. [No provision on market mechanism]