How monitoring climate finance can really help
In the global effort to reduce carbon emissions and adapt to climate change, international support plays a major role. An important issue in the negotiations under the UN Framework Convention on Climate Change (UNFCCC) is the design of a system to measure, report and verify (MRV) climate finance. The term MRV initially referred to monitoring mitigation actions of Parties, for example, with respect to so-called Nationally Appropriate Mitigation Actions (NAMAs). Now, MRV also applies to support provided to developing countries (‘MRV of support’), such as the commitment to jointly mobilise USD 100 billion of financial support to developing countries per year by 2020 by developed country Parties.
This brief aims to shed some light on challenges related to the monitoring of financial support activities (MRV of support) and of the final use of the funds in specific projects or programmes, which is referred to as ‘Monitoring and Evaluation’ (M&E).