readiness for climate finance
TRANSCRIPT
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Readiness or Climate Finance
A ramwork or undrstanding what it mans to b rady to us climat nanc
Unitd Nations Dvlopmnt Programm
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Radinss or Transormativ Climat Financb
Authors: Veerle Vandeweerd, Yannick Glemarec, Simon Billett
Contributors: Alis Bonnll, Stphn Gold, Martin Kraus, Christophr Briggs,
Pradp Kurukulasuriya, Al Hikns, Paul Stl, Thomas Blo, Angus Mackay,Bnoit Lbot, Marwan Owaygn, Gabrila Fischrova, Danila Stoychva, Ros
Mwbaza, Patricia Maria Prz, Mato Salomon, Carlos Salgado, Raul Alaro Plico,
Olivr Pag, Kvin Ptrini, Toily Kurbanov, Cristina Colon, Rbcca Carman, Isabl
Krislr, Jnnir Baumwoll, Pia Trichl, Cassi Flynn, Danil Buckly, Drk Pipr,
Susann Olbrisch.
The views expressed in this publication are those o the authors and do not necessarily
represent those o the United Nations, including UNDP, or its member states.
UNDP is the UNs global development network, advocating or
change and connecting countries to knowledge, experience and
resources to help people build a better lie. We are on the groundin 177 countries and territories, working with them on their own
solutions to global and national development challenges. As they
develop local capacity, they draw on the people o UNDP and our
wide range o partners.
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Prac and Ovrviw
This discussion papr is part o a sris o publications that draws upon th princ gnratd by th
Unitd Nations Dvlopmnt Programms (UNDP) climat chang adaptation and mitigation activitis in
som 140 countris ovr th past two dcads.
Th papr prsnts a ramwork or undrstanding what it mans to b rady to us climat nanc
in a transormativ way at th national lvl. In th contt o th nancial challngs posd by climat
chang, including th scal o nancing rquird and th barrirs to th ctiv us o climat nanc
(intrnational and domstic; public and privat), th papr prsnts a our-part ramwork through which
to undrstand th dirnt componnts o radinss and th spcic capacitis ndd to undrpin it.
In this papr climate fnance readiness is defned as the capacities o countries to plan or, access, deliver, and
monitor and report on climate fnance, both international and domestic, in ways that are catalytic and ully
integrated with national development priorities and achievement o the MDGs.
By laying out this ramwork, th papr attmpts to organis th many targtd support programms,
guidbooks, publications, and toolkits on climat nancord by a rang o intrnational, rgional,
and national partnrs. This papr itsl is not intndd as a guidbook pr s, but rathr as an introduction
to both th national challngs arising rom incrasing ows o climat nanc and som ampls o th
routs availabl or ovrcoming ths challngs. Th intndd audinc or th papr is policy-makrs
at both th intrnational lvl and national lvl in dvloping countris. For an intrnational audinc
th papr illustrats th critical importanc, but also th bradth and complity, o what is nd to b
rady at th national and local lvl. For a national audinc, th papr aims to provid a ramwork to
organis th plthora o tools, mchanisms, and modalitis availabl rom dirnt dvlopmnt part-
nrsultimatly improving th capacity o policy-makrs to put in plac nationally-appropriat systms
to manag climat nanc.
To support national policy-makrs mov orward, this papr also highlights a numbr o tools and am-
pls availabl to ovrcom barrirs idntid in th papr and build rady systms at th national lvl.
For ampl, UNDP has dvlopd a suit o tchnical guidbooks that ar rrrd to throughout th tt
and or which this papr srvs as a chapau, including:
l Prparing Grn, Low-mission, Climat-Rsilint Dvlopmnt Stratgis: ecutiv
Summary
l Catalyzing Climat Financ
l Catalyzing Financ: Financial Modl and Tchnical Anns
l Sctor-Wid Approachs to Climat Financ (orthcoming)
l National Climat Funds
l MRV Systms or Climat Financ and Actions (orthcoming)
Radinss or Transormativ Climat Financii
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Introduction: Policy Contt
Th scal o th climat chang challng bor th intrnational community is vast. Holding global
tmpraturs at 2 dgrs C abov pr-industrial lvls will rquir a transormation in production
and consumption procsss across all countris. This transormation must involv a country-drivn
shit toward policis and tchnologis that catalys nw invstmnts and mainstram climat chang
into isting systms. In addition, signicant support must b providd to build th rsilinc o ths
systms, particularly or th poorst and most vulnrabl in dvloping countris who hav contributd
last to th buildup o grnhous gass in th atmosphr.
Th scal o th nancial challng to achiv this transormation is in th ordr o hundrds o billions o
US dollars. Th nancing availabl and th capacitis to absorb rsourcs vary across dirnt countris;
whras dvlopd countris hav intrnal capacitis to gnrat and us climat nanc, many dvl-
oping countris lack th nancial rsourcs ncssary or th institutional, policy, and skills systms to us
climat nanc ctivly. Th impacts o ths barrirs ar hightnd or vulnrabl groups, such as th
poor and womn, thratning th achivmnt o povrty rduction goals and th MDGs.
Th intrnational community has rspondd to this scarcity by incrasing North-South public nanc
transrs or climat chang activitis ovr rcnt yars. For ampl, govrnmnts hav dsignd and
rormd institutions such as th Global environmnt Facility, th Adaptation Fund, th Climat Invstmnt
Funds, and most rcntly th Grn Climat Fund, as wll as nw volving nancial mchanisms such as
prormanc-basd paymnts or rducing missions rom dorstation, dgradation, and orst consr-
vation (ReDD+) and clan nrgy. In addition, dvloping countris hav incrasd thir own public
spnding on climat chang activitis, including through national budgts. Howvr, whil trmly
important, incrasing supply o public nanc alon will not promot transormations in production and
consumption procsss. Th scal o th nancing rquirdwhich is likly to b many tims th siz
o prsnt lvls o Ofcial Dvlopmnt Assistanc (ODA)and th cross-sctoral natur o th climat
challng man that volums o intrnational public nanc will b ar rom sufcint.
Radinss or Transormativ Climat Financ 1
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Thror actions to promot low-mission and climat-rsilint dvlopmnt must b largly public
policy-basd and privat-sctor nancd whr intrnational public nanc is usd catalytically along-
sid much largr capital ows (AGF, 2010). For climat nanc to b ctiv th intrnational community
must do mor than simply incras rsourc ows toward isolatd local intrvntions. Th intrnationalcommunity must addrss thr ky issus rquird to promot transormations at th national lvl:
l First, intrnational public nanc cannot simply b usd as an nd in itsl to nanc
isolatd intrvntions. Th Intrnational enrgy Agncy (IeA) stimats that approi-
matly 40% o th global invstmnt ndd to transorm nrgy systms alon will
likly com rom housholds, 40% rom businsss, and just 20% rom govrnmnt
(IeA, 2009). In this contt, th limitd intrnational nanc must b usd to support
countris crowd in privat sctor and local nanc and so driv transormational
chang at th scal rquird. Limitd public nanc must thus b usd to dvlop an
nabling nvironmnt at national and local lvls that rdircts isting public invst-
mnts and provids th incntivs or privat nanc to invst in low-mission and
climat-rsilint activitis.
l Scond, with mor than 50 intrnational public unds, 60 carbon markts and 6,000
privat quity unds alrady providing grn nanc, mobilising trnal nanc in
ways that ar alignd with national systms and prioritis is trmly compl (Figure
1). Furthrmor, multipl typs o nanc (such as carbon nanc1, nanc or ReDD+,
tc.) and a varity o tools or dlivring and packaging nancing (such as sctoral
approachs, prormanc-basd paymnts, tc.) ar rapidly mrging and volving
prsnting additional challngs. Intrnational public nanc must b usd to support
systms that ar abl to navigat and tak advantag o this landscap by accssing
and using this multitud o nanc.
l Third, dcads o rsarch on dvlopmnt assistanc indicats that th ctivnss
o dvlopmnt actions, such as thos ndd to promot transormational chang to
addrss climat chang, ar svrly undrmind by isolation rom mainstram national
dvlopmnt planning and povrty rduction stratgis (OeCD, 2005). Without int-
gration, actions ar not ully mainstramd into isting activitis and risk bing ost
or undrmind by othr dvlopmnt activitis. Thus public nanc must b usd
to promot intgration and nsur that dvloping countris ar abl to adquatly
mbd climat nanc within and alongsid national dvlopmnt planning.
Actions to promotlow-mission and
climat-rsilint
dvlopmnt mustb largly public
policy-basd and
privat-sctor nancd
whr intrnational
public nanc is usd
catalytically alongsid
much largr capital ows.
Introduction
1 Financ gnratd through ost projcts that issu carbon crdits or sal on intrnational complianc and voluntary
markts
Radinss or Transormativ Climat Financ2
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Attntion to ths issus has grown incrasingly signicant within intrnational policy discussions on
climat nanc. In particular, thr has bn incrasd ocus on building and strngthning national
systms so thy ar rady to us climat nanc ctivly in ways that promot transormations in
production and consumption pattrns at th national lvl. This ocus is mbodid in rcnt intrnationaland national policy discussions on th concpt o radinss. In particular, th trm is spcically rrrd
to within th govrning instrumnt o th Grn Climat Fund (GCF), which stats that The Fund [GCF] will
provide resources or readiness and preparatory activities and technical assistance.
Howvr, at prsnt no clar ramwork ists through which to undrstand what is rquird to b
rady to us climat nanc in an ctiv or transormational way or how to gt thr. Whil dvlop-
mnt assistanc practitionrs hav signicant princ and analytical matrial in assisting countris
to accss dvlopmnt nanc mor gnrally, thr is a nd to spcically undrstand th national
systms rquird to us intrnational and domstic climat nanc in ways that will transorm production
and consumption procsss. In particular, a ramwork or radinss is critical or th GCF to ctivly
support activitis that will driv low-mission, climat-rsilint dvlopmnt.
This papr rsponds to this gap by laying out a ramwork or concptualising th lmnts o what
it mans to b rady or climat nanc and taking stock o th ky capacitis rquird to build and
strngthn ths lmnts. Th ramwork draws on ampls and is th rsult o mapping and grouping
national capacitis and systms, rathr than dvloping a top-down prscriptiv modl or all countris.
It aims to provid both intrnational and national policy-makrs with an ovrviw o th typs o national
systms ndd to plan or, accss, dlivr, and monitor and rport on ctiv climat nanc, and th
orms o support ndd to build and strngthn ths systms.
Th papr bgins by outlining th ramwork or undrstanding climat nanc radinss in th contt
o th climat chang challng and thn movs on to considring th dirnt lmnts o this ram-
work drawing on ampls o currnt activitis on th ground.
What dos it man to b rady or climat nanc?
Radinss or climat nanc is a rlativly nw trm that has bn usd or a numbr o spcic aras
o climat nanc, such as ReDD+ radinss and markt radinss; howvr, a comprhnsiv dnition
that maps out th dirnt lmnts o radinss with rgard to climat nanc as a whol is ndd.
This papr dns radinss or climat nanc as the capacities o countries to plan or, access, deliver, and
monitor and report on climate fnance, both international and domestic, in ways that are catalytic and ully
integrated with national development priorities and achievement o the MDGs.
Thr ar our main componnts within this dnition (Figure 2). Thy ar:
Nationalcapacitiesinplacetoplan or nanc;
Capacitiestoaccess dirnt orms and typs o nanc at th national lvl;
Capacitiestodeliver nanc and implmnt/cut activitis;
Capacities tomonitor, report, and veriy on nancial pnditurs and associatd
rsults/transormativ impacts.
Ovrviw
Radinss or Transormativ Climat Financ4
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Figure 2: Components o Climate Finance Readiness
It is important to not that, whil ths cor lmnts ar almost always prsnt in som orm at th
national, sub-rgional, or local lvls, this dos not translat into a on-siz-ts-all modl. Dirnt cong-
urations o ths our componnts can ist within institutions, btwn institutions, or across national or
sctoral systms. Dirnt unctions can b carrid out through a varity o national systms and modls,
ach o which is particular to its country contt. Furthrmor, trnal capacity dvlopmnt support is
not rquird to build all componnts in all countris; many capacitis within this ramwork alrady ist
at th national lvl. In addition, in thos countris whr assistanc is ndd countris should b abl
to strngthn isting institutions, policis, and skillsthis ramwork dos not imply that orts should
start rom scratch.
Instad, th ramwork is intndd as lns through which isting orts and gaps can b organisd andarrangd; through this procss, aras o urthr work can b idntid in a holistic and intgratd mannr,
ultimatly producing a mor cohrnt approach at th national lvl. This approach rcogniss that th
nds o countris will volv ovr tim, and so th radinss approach itsl must b ibl.
Th ollowing sctions plor ach o ths componnts o radinss in urthr dpth; thy highlight
particular capacitis that ar mrging as important on th ground and prsnt ampls o tools that can
support build and strngthn thm. Ths sctions ar intndd to inorm intrnational policy-makrs o
what support is ndd rom th intrnational community to mak countris rady; it is also intndd
to provid a ramwork or national policy-makrs to organis th many activitis taking plac in this ara
and illustrat som ampls o what support is availabl.
Ovrviw
Financial Planning
l Assss nds and priori-
tis, and idntiy barrirs to
invstmnt
l Idntiy policy-mi and
sourcs o nancing
Accessing Finance
l Dirctly accss nanc
l Blnd and combin nanc
l Formulat projct,
progamm, sctor-wid
approachs to accss
nanc
Delivering Finance
l Implmnt and cut
projct, programm,
sctor-wid approachs
l Build local supply o
prtis and skills
l Coordinat
implmntation
Monitor, Report& Veriyl Monitor, rport, and vriy
ows
l Prormanc-basd
paymnts
This ramwork laborats that outlind in UNDPs 2010 discussion papr Dvlopmnt in a Changing Climat: A ramwork or Climat Financ
Radinss or Transormativ Climat Financ 5
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Financial planning capacitis
Introduction
As or dvlopmnt nanc mor widly, nancial planningthat is, planning or th supply, manag-
mnt, and us o nancial rsourcs to ull a givn aimis a undamntal stp in nsuring th c-
tiv, fcint, and quitabl us o climat nanc. Planning allows dcision-makrs to articulat thir
climat-rlatd prioritis and th nancial rsourcs rquird to mt thm. Planning also includs
assssmnts o climat nanc ows, allowing policy-makrs to match thir prioritis with potntially
availabl rsourcs, and so plan how to intgrat rsourcs and squnc thm ovr tim. Building
and strngthning national, sctoral, and local nancial planning capacitis nsurs th intgration
o climat nanc within national dvlopmnt and budgtary procsss and so aligns climat and
conomic and social growth pathways.
1.1 Assess Needs, Dene Priorities,and Identiy Barriers to Investment
Planning or climat actions at th national lvl must b basd on ovrarching dvlopmnt prioritis at
th national lvl. This rquirs idntication o national climat chang actions basd on robust climat
chang scnarios and missions baslins, dvlopmnt plans, projctions o impacts o actions, and a
rviw o innovativ solutions and practics availabl. On this basis, ctiv and appropriat actions
and prioritis can b articulatd, including both nw actions and actions that mainstram climat chang
within isting dvlopmnt spnding. An umbrlla or this work is th prparation o grn, low-mis-sion and climat-rsilint dvlopmnt stratgis (Green LECRDS, Box 1). Such stratgis provid a
vhicl or bringing nds assssmnts and priority stting procsss togthr. From macro-lvl strat-
gis, spcic nationally appropriat mitigation actions (NAMAs), national adaptation plans (NAPs), and
tchnology action plans (TAPs) can b articulatd along with th associatd nancial nds.
Th capacitis rquird at th national lvl to assss nds and dn prioritis ar compl to build
and th procss or strngthning ths capacitis is itrativ. This is particularly important givn that
climat nanc ows (as illustratd in Figur 1) ar nithr purly public nor purly privat. This varid
landscap rquirs spcic national mchanisms or coordinating rlvant govrnmnt ministris and
agncis around climat prioritis, particularly ministris o nanc, as wll as ky conomic and social
actors, including intrnational and domstic privat sctor stakholdrs. Undr th umbrlla o GrnLeCRDS, UNDP has producd a ddicatd guidbook to support multi-stakholdr dcision-making
(UNDP, 2012).
1
Stratgis provid avhicl or bringing
nds assssmnts
and priority stting
procsss togthr.
Chaptr 1: Financial planning capacitis
Radinss or Transormativ Climat Financ6
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Box 1: Green low-emission, climate-resilient development strategies
UNDP has dvlopd an approach supportd by a capacity dvlopmnt packag to hlp coun-
tris dvlop grn, low-mission and climat-rsilint dvlopmnt stratgis (Grn LeCRDS).
This approach, supportd by a group o rgion-basd tchnical advisors and prts, is compl-
mntd by a st o stp-by-stp guidbooks and toolkits in multipl languags that support
countris to tak dcisions on climat chang, including dcisions on nanc that ar alignd
with isting national dvlopmnt plans and ramworks. At th rqust o govrnmnts,
UNDP is currntly supporting govrnmnts with various lmnts o th planning procss. This
support taks dirnt orms dpnding on national circumstancs and goals; howvr, th
ovrall mnu o srvic to build radinss in this ara is illustratd in Figure 3.
Chaptr 1: Financial planning capacitis
Figure 3: Development o green low-emission, climate-resilient development strategies
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1.2 Identiy Policy-Mix and Sources o Financing
Against th backdrop o comprhnsiv climat stratgis dcision-makrs must b abl to idntiy th
rsourc ows rquird or priority activitis and plan th associatd squncing o such ows.
To ngag in this procss rquirs an undrstanding o th nancial baslinthat is, what isting
rsourcs ar alrady bing usd or climat chang activitis. A priodic nancial scan can b usd to
dtrmin this baslin at th national lvl; thr ar a numbr o dirnt tools to support this procss,
including:
l An invstmnt and nancial ows assssmnt (I&FF) that crats a baslin o isting
pnditurs at th sctoral scal and maps this on to priority climat-rlatd activitis
to idntiy gaps;
l A climat public pnditur and institutional rviw (CPeIR) that asssss currnt
on-budgt climat nanc pnditurs across sctors. Typical activitis to support
CPeIRs includ:
l Dning climat chang pnditurs as wll as a tracking systm
l Idntiying how to mainstram climat chang into th budgtary procss
l Budgtary allocation and actual pnditur and budgt prioritization
Having idntid isting nancial ows, divrs capacitis ar ndd to idntiy nanc rom dirnt
sourcs to ll rmaining unding gaps. A cntral capacity in this procss is matching supply to dmand.
Idntiying sourcs or climat nanc can b highly compl givn th rang o nanc availabl ( Figure
1), ach o which is appropriat or dirnt activitis in particular circumstancs. For som countris th
majority o climat nanc ows through privat channls, whil in othrs, particularly last dvlopd
countris (LDCs), nw rsarch in a numbr o LDCs in Asia suggsts that signicant volums o national
budgt pnditurs ar usd or climat activitis (ODI and CDDe, 2011).
Dcision-makrs must b abl to articulat nancial nds in th contt o both spcic activitis as wll
as programms o activitis, dpnding on th sourc o nanc. A ky capacity hr is th ability to cost
priority actions and thn match thos costs to dirnt sourcs. For ampl, th dvlopmnt o sctoral
NAMAs rquirs a programm o activitis (PoA) to b plannd and nancd in concrt, rquiring both
multipl sourcs o nanc and spcic national policy actions to b undrtakn in a coordinatd way. This
planning procss is illustratd in Figure 4.
For trnal multilatral and bilatral nancing, planning procsss ar ndd that can map domsticdmand onto dirnt sourcs o nancing and thir unding cycls. This rquirs knowldg o ths
intrnational ows, and a varity o tools hav bn dvlopd to support policy-makrs in this rgard. For
ampl, th World Bank and UNDP hav togthr dvlopd an onlin tool, www.climatnancoptions.org
to support dcision-makrs navigat th dirnt intrnational sourcs o public nanc. In addition, spcic
systms ar ndd among donor govrnmnts and organisations to promot cohrnc at th national
lvlsuch as donor-rcipint govrnmnt coordination groupsto nsur that donor nanc is itsl
rady. Rcipint countris grn, low-mission and climat-rsilint dvlopmnt stratgis can act as a
rallying point or ths systms.
Chaptr 1: Financial planning capacitis
Planning procsss arndd that can map
domstic dmand onto
dirnt sourcs o
nancing and thir
unding cycls.
Radinss or Transormativ Climat Financ8
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For domstic public nancing that is on budgt (i.. owing through national budgts and public nancial
managmnt systms), policy-makrs should b abl to prioritis and allocat within national budgtary
procsss in ordr to rais additional rsourcs or climat activitis or mainstram climat into othr
budgt lins. This involvs dircting nanc toward climat chang activitis, but also rmoving istingactivitis that hav dtrimntal climat impacts. A numbr o countris hav alrady bgun this procss
as part o thir CPeIRs to allow thm to bttr intgrat domstic public nancing or climat chang into
th national budgtary procss; this work has bn supportd by a ntwork o organisations including
UNDP, OeCD, ADB, ADB, and ODI2.
Figure 4: Identiying sources o climate nance based on priorities (Source: UNDP, 2011a)
Chaptr 1: Financial planning capacitis
2 Organisation or economic Coopration and Dvlopmnt; Asian Dvlopmnt Bank; Arican Dvlopmnt Bank; Ovrsas
Dvlopmnt Institut.
Slct supportiv
markt basdinstrumnts
STEP 1: Identiy Priority Mitigationand Adaptation Technology Options
6
5
4
3
2
1
0
-1
-2
Lighting
InsulationHating
Ful fcincyProduct rdsignMachinry upgrad
Biomass
Wind turbinRlocation
elctric car
STEP 2: Assess Key Barriers toTechnology Difusion
Barriers to technology difusion
Behavioural barriers X
Institutional barriers X
Regulatory barriers X
Financial barriers X
Technical barriers X
Barriers to technology
difusion
Public unds X
Environmental
market nance
X
Private unds X X
STEP 4: Select Financing Options to
Create an Enabling Policy Environment
This will result in a blend o dierent
public and private unds
STEP 3: Determine Appropriate
Policy Mix
Policy nancing
Slct cornrstonpolicy
Slct
supportivinormation
andrgulatory
instrumntrs
Underlying nance
Idntiy nanc or undrlying invstmnt
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Chaptr 2: Capacitis to accss nanc
Figure 5: Access routes to multilateral nance (Source: ODI and UNDP, 2011)
International
Domain
National
Domain
Fund ManagerExecuting
Body
Executing
Body
Implementing
Body
Multilateral Access
International
Domain
National
Domain
Fund Manager
Executing
Body
Implementing
Body
Direct Access
International
Domain
National
Domain
Fund Oversight
Executing
Body
Implementing
Body
Enhanced Access
Fund Manager
Fund manager unctions
(some unctions carried out
by und secretariat)
Implementing body
unctions
Executing body unctions
l Develops strategies,
policies and guidelines
o Fund
l Reviews proposals
submitted to Fund
l Decides who receives und-
ing
l Instructs trustee to transer
unds to eligible implement-
ing bodies
l Monitors implementation
progress
l Accountable to donors on
und expenditures
l Identication o projects
l Preparation o Project
concepts
l Appraisal o Project
documents
l Preparation o Project
documents
l Approvals and start-ups o
projects
l Supervision o projects
l Evaluation o projects
l Accountable to Fund on use o
unds
l Management and administra-
tion o day-to-day project
activities
l Undertakes procurement
and contracting o goods and
services
l Accountable to implementing
body or use o unds
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Us o nhancd accss modalitis rquirs spcic national nancial capacitis, th undrstanding o
which is only bginning to volv. Whil not yt ully oprational, nhancd accss is providd or within
th GCF and looks st to bcom a utur accss modality. As illustratd in Figure 3, nhancd accss
shits som componnts o und managmnt to accrditd national ntitis rathr than th vrtical und
itsl, such as holding rsourcs in trust and acilitating thir transparnt allocation. A numbr o countris
ar ploring th stablishmnt and accrditation o national climat unds (NCFs) within this modality, as
thy can also b usd to collct and allocat national and intrnational rsourcs, as wll as accss bilatral
public nanc alongsid multilatral nanc.
Whil this modality has th potntial to gratly incras country ownrship ovr und allocation and
cohrnc in accssing both multilatral and bilatral rsourcs in ways that ar alignd with low-mission
and climat-rsilint dvlopmnt stratgis, accss through this track will likly rquir mor substantial
nancial managmnt capacitis, including lgal arrangmnts or holding unds in trust, and govr-
nanc systms to ovrs allocation and rport on th us o rsourcs. Building and strngthning ths
capacitis, including duciary systms, transparnt multi-stakholdr allocation systms, and appropriat
lgal and rporting arrangmnts, will b critical to th ctiv us o rsourcs undr this modality. For
ampl, as th und managr an NCF would rquir accountabl and lgitimat arrangmnts or alloca-
tion o unds in lin with th stipulations o th global und rom which rsourcs may hav bn accssd.
This rquirs govrnanc systms that hav lgal dcision-making powr and who ar hld accountabl
or thir dcisions through public disclosur arrangmnts. To support th dvlopmnt o ths capaci-
tis, UNeP and UNDP ar collaborating to produc a guidbook on th lgal ramworks ncssary or
ctiv climat action at th national lvl.
2.2 Blend and Combine Resources
In addition to dirct accss, rcipint countris prss th nd to blnd and combin climat nanc
rsourcsa procss that allows accss to a widr rang o typs o nancing at th national lvl
(Mwap, 2011). This can tak two orms: ithr th bundling o dirnt typs o nanc within a singl
projct or programm (combin), or th us o on rsourc to rstructur th trms o anothr, non-
grant rsourc (blnd). Both provid rcipint countris th powr to transorm rsourcs at national
lvl and mpowr dcision-makrs to accss to a widr rang o nancial instrumnts than might
othrwis b availabl rom intrnational nancial supplirs to mt thir nds. Transrring th
ability to combin and blnd climat nanc to th national lvl incrass rcipint country ownrship
ovr how nanc is usd and in what orm. Howvr, both blnding and combining rquir spcic
nancial mchanisms and capacitis at th national lvl as dtaild blow.
For ampl, rsourcs can b combind through a national nancial mchanism, such as a national
dvlopmnt bank, an NCF, or a simpl trust und, whr rsourcs ar allocatd togthr sid by
sid. For ampl, Th China CDM Fund is a national und to that ors grants and loans to support
Chinas National Climat Chang Programm and promot intrnational coopration. It uss grants
undd by rvnus rom CDM projcts, arnings rom CDM businss oprations, and othr sourcs
to support climat-rlatd capacity building and promotion o public awarnss. Combining nanc
poss w nancial complications as no additional nancial risk taking is rquird (as no tra dbt is
Chaptr 2: Capacitis to accss nanc
Transrring th abilityto combin and blnd
climat nanc to th
national lvl incrass
rcipint country
ownrship ovr how
nanc is usd and
in what orm.
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Chaptr 2: Capacitis to accss nanc
issud) and rsults can b asily attributd to ach nancing sourcs. Yt capacitis ar rquird to
allocat rsourcs in a transparnt and accountabl way.
Blnding rsourcs rquirs dirnt, mor compl nancial capacitis. Rsourcs must b hld on
an ntitys balanc sht togthr and, dpnding on th natur o th blnding, may b rormulatd
into dirnt nancial instrumnts (.g. lowring intrst rats or tnding th rpaymnt priod or
a loan) with nancial trms rngotiatd. This rquirs banking unctions and so rstricts th typ o
institutions at th national lvl that can b involvd. Building and strngthning ths systms
such as NCFsis compl and, dpnding on th conguration and purpos, can rquir lgal status,
und managmnt capacitis, and a ormal connction to Ministris o Financ in th cas whr sovr-
ign guarants ar ndd or non-grant rsourcs in th und. each o ths is an important part
o building and strngthning country systms to manag climat nanc and rquirs spcic and
dtaild attntion.
eampls o blnding systms at th national lvl ar common within dvlopmnt nanc, particu-
larly through national dvlopmnt banks within dvloping countris. Such dvlopmnt nanc
institutions ar incrasingly playing a rol in climat nanc also, such as th Dvlopmnt Bank o
Southrn Aricas managmnt o th South Arica Grn Fund.
eprincs to dat with providing this kind o climat nanc radinss support ar only bginning to
mrg. Howvr, dmand or assistanc is signicant. Following th publication o a tchnical guid-
book or policy-makrs on stablishing NCFs, UNDP has rcivd rqusts rom 20 countris or varying
orms o assistanc. Radinss activitis to addrss ths rqusts rquir that proposd systms ar
appropriat or a spcic country contt and that adquat and appropriat nancial capacitis ar in
plac to prorm th unctions that may hav bn prviously undrtakn by intrnational institutions.
2.3 Formulate Projects, Programmes, andSector-Wide Approaches to Access Finance
Accssing nanc also rquirs rcipint countris to b abl to ormulat bankabl projct and
programm proposalsthat is, projcts that ar sufcintly robust, hav appropriat risk managmnt
mchanisms, and hav a avourabl intrnal rat o rturn and so ar nancablrom local to sctor-
wid scals.
Programm ormulation can tak various orms. For ampl, a policy tool such as a d-in-tari rgim(Box 2) provids an nabling nvironmnt in which it bcoms protabl or intrnational dbt and quity
providrs and/or local companis to invst in th installation and managmnt o rnwabl nrgy tch-
nologis. Programm ormulation at this scal is a compl task and rquirs lin ministris, such as Ministry
o enrgy, to hav th nancial and nginring prtis to dvlop not only a policy and rgulatory ram-
work to run th programm but also strong nancial systsms to combin th right typs o nanc in th
most catalytic way. Lgal assistanc and support to put in plac and strngthn rgulatory tools, such as
pric prmiums, is rquird bor privat nanc can bgin to ow. Howvr, onc in plac such systms
catalys signicant volums o privat invstmnts and so upront public support can b rducd.
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Chaptr 2: Capacitis to accss nanc
Projct ormulation capacitis and systms ar also ssntial or nsuring univrsal accss to carbon
nanc. Bcaus o th rlativly high political and oprational risk or carbon nanc invstors in
many dvloping countris public assistanc is otn rqustd to dvlop projcts and undrtak pr-
asibility analyss that rduc oprational risks or carbon nancirs. For ampl, UNDP is supportingnational institutions to ormulat and dvlop bankabl projcts or carbon sctor nancing through
its MDG Carbon Facility. Th Facility ors a comprhnsiv packag o projct dvlopmnt srvics
or dvloping grnhous gas mission rduction projcts and bringing thm to markt.Accssing nanc alsorquirs rcipint
countris to b abl to
ormulat bankabl
projct and programm
proposals.
Box 2: Formulating sector-wide approaches that catalyse access to private nance
Th dvlopmnt o a d-in-tari (FiT) is an ampl o a compl sctor-widr programm
ormulation procss. Within a FiT rgim producrs o lctricity ar paid a guarantd or
ach KWh d into th grid dpnding on th typ o gnration usd. Robust nancial capaci-
tis ar rquird by dcision-makrs in ordr to ctivly dploy public climat nanc to
accss privat nanc. For ampl, dploymnt o dirnt sourcs o nanc rquirs an
valuation o nanc availabl and th bst ormulation o thos rsourcs. For a d-in-
tari, grant nanc can b usd to provid tchnical assistanc or th dvlopmnt o poli-
cis, lgislation, and rgulations, concssional loans can usd to provid risk guarants to
arly dvloprs, and carbon nanc or domstic wir chargs can b usd to nanc d-
in-tari prmium paymnts (Figure 6). All o ths componnts hlp to gnrat larg privat
invstmnts.
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Chaptr 2: Capacitis to accss nanc
Figure 6: Formulating a policy and nancing approach to promote wind power in developingcountries (Source: UNDP, 2011a)
FiT premium
Renewable Energy Asset Financing
Political risk guarantee, concession loans etclTechnical assistance or the
design o FiT laws
lCapacity development or
local supply o expertise and
nance
lPolicy change or expedited
licensing
lGuaranteed access to the grid
and nance
lEtc
PolicyFinancing
UnderlyingFinancing
Key: Funding Sources
Capital markts (Domstic & Intrnational)
Country-spcic (.g. incras in lctricity tari, wir chargs, blnding o intrnational/domstic public rsourcs, tc.)
Concssional and dvlopmnt nanc (multilatral dvlopmnt banks, national dvlopmnt banks, tc.)
Public unding sourcs (.g. GeF)
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Capacitis to dlivr nanc
Dlivring nancthat is, th implmntation and cution o activitis at th rgional, national, or
local lvlis th third componnt o climat nanc radinss and is a ky componnt o nsuring
that climat nanc contributs to ctiv and transormativ actions at th national lvl. Dlivring
rsourcs rquirs national systms that provid nancial ovrsight and managmnt, as wll as cu-
tion srvics such as procurmnt, contracting, or hiring. Ths systms must hav a local supply o
prtis rom which to procur skills to undrtak projct activitis. Furthrmor, coordination among
ntitis is ssntial to nsur that projct-lvl activitis ar in lin with national dvlopmnt planning
and stratgis at th macro lvl.
3.1 Implementation and Execution
Implmntation and cution srvics ar cor capacitis rquird or climat nanc to b dlivrd
ctivly (s dnitions in Figure 5). Implmnting ntitis ar rsponsibl or idntiying, ovr-
sing and appraising programms/projcts or th providr o nanc. Morovr, implmnting nti-
tis would normally b pctd to hold th rsourcs rlasd by th unding sourc (in th cas
o public rsourcs). This rol ncssitats robust duciary capacitis, including sl-invstigativ
powrs, many o which ar rquird to gain accss to rsourcs in th rst plac, spcially in th cas
o dirct accss (discussd abov). In addition, implmnting ntitis may b involvd in blnding
and combining nanc, covrd in th prvious sction on accss. In particular, combining nanc
otn taks plac within individual projcts and programms, and so rquirs thos ntitis involvd in
projct managmnt to posss much o th nancial knowldg as outlind in sction 2.2.
Whil undrtaking a dirnt rol, th cuting ntitis rciv unding to undrtak programms o
work and may utilis sub-contracting arrangmnts to complt ths activitis. Thy rquir trans-
parnt procurmnt procdurs and must b abl to rport rgularly to implmnting ntitis on prog-
rss. Critically, cuting ntitis must hav projct managmnt capacitis.
A major mphasis is incrasingly placd on prparing ntitis to tak on ths implmntation and/or
cution rols and dmand or support is incrasing. Thr is a particular ocus on dirct accss nti-
tis in this rgard, and nsuring thos institutions applying or accrditation to global unds hav strongovrsight systms in plac, as discussd abov.
A particular st o capacitis rlat to carbon nanc in this rgard. Whil carbon nanc, as a markt
mchanism, dos not ow through public institutions and so dirct projct managmnt capacitis ar
not rquird within public institutions to manag carbon nanc, thr is otn a nd to support th
widr implmntation ramwork at th national lvl. For ampl, undr th Clan Dvlopmnt
Mchanism (CDM) projct proposals must b ndorsd by th rspctiv Dsignatd National
Authority (DNA) within th dvloping countris. To undrtak thir unction, DNAs rquir capacitis
3
Chaptr 3: Capacitis to dlivr nanc
Simply adding gratrquantityo climat
chang-taggd nanc
dos not by dault
man gratr quality
o spnding onclimat chang.
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Chaptr 3: Capacitis to dlivr nanc
to valuat th ctivnss o th proposd projct and its consistncy with national dvlopmnt
prioritis and nvironmntal and social saguards. This has provn particularly important or orstry
activitis whr DNAs hav a ky rol in nsuring balanc btwn privat invstmnt and compl
local landholding situations (Boyd t al, 2009).
In addition, a spcic st o capacitis rlats to domstic public nanc that ows through th national
budgt. Simply adding gratr quantity o climat chang-taggd nanc within national budgts
dos not by dault man gratr qualityo spnding on climat chang. This is also th cas or intr-
national nanc that ows on-budgt as dirct budgt support. Capacity is ndd within th public
nancial managmnt systm to dlivr rsourcs to implmnting partnrs, whthr lin ministris
and govrnmnt agncis or trnal contractors, and to nsur that rsourcs ar spnt on ctiv
and sustainabl mitigation and adaptation masurs.
3.2 Local Supply o Expertise and Skills
Both implmntation and cution systms rly on a pool o local skills that can b contractd to
undrtak various lmnts o climat projcts and programmsrom background analyss to instal-
lation and maintnanc o tchnologis and projct managmnt skills. Capacity dvlopmnt is otn
ndd to dvlop this ndognous talnt pool and grow a grn conomy at th local scal. eampls
o such activitis includ:
l Vocational training o prossionals such as architcts, nginrs, contractors,
buildrs, clan nrgy installrs as wll as sals prsonnl l Individual guidanc rlatd to projct dsign choics such as tchnology slction or
choic o supplirs and contractors
l Ladrship programms
On way to strngthn capacity in this ara is to utilis local cntrs o prtis, ocussd on particular
sctors or tchnologis. For ampl, th 2004 enrgy efcincy World Wid Rviw showd that o
th 60 countris rviwd, 14 countris in europ hav introducd local cntrs, our in Asia (Australia,
China, th Philippins and Vit Nam), thr in Arica (Knya, Mali and Morocco) and on in th Middl
east (Islamic Rpublic o Iran).
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Chaptr 3: Capacitis to dlivr nanc
3.3 Project Coordination Systems
With multipl sourcs o nanc, otn in multipl orms, ntring th national sphr both within and
outsid th national budgt at both th macro but also micro lvl, coordination systms at th projct-
lvl ar ssntial. Such mchanisms should b linkd with national low-mission and climat-rsilint
dvlopmnt stratgis to nsur cohrnc btwn planning and implmntation.
Furthrmor, coordination systms at th projct lvl ar important to nsur that implmnting and
cuting ntitis ar programming rsourcs in ways that ar pro-poor, gndr snsitiv, and rspct
local rights. Such coordination systms could b a multi-stakholdr string committ, rathr than
a national lvl body; what is ssntial is that systms ar in plac to nsur marginalisd groups ar
includd within th dlivry o climat nanc. Support is ssntial or th dvlopmnt o ths systms
and otn rquirs ddicatd tchnical assistanc rsourcs to b built into projct budgts. Notabl
ampls o this ar projcts in th ara o ReDD+, which involv a larg numbr o stakholdrs at th
projct scal (Box 3).
Projct coordinationstructurs ar supportd
by ddicatd unding.
Box 3: Multi-stakeholder coordination systems at the project level or REDD+ in theDemocratic Republic o Congo
Th National Radinss Plan or ReDD+ in th Dmocratic Rpublic o Congo (DRC), supportd
by both th UN-ReDD Programm and th World Bank hostd Forst Carbon Partnrship Facility,
prsnts a clar ampl o how multi-stakholdr ngagmnt has bn succssully main-stramd into projct coordination structurs (Figure 7). A National Dcr to support ReDD+ in
DRC has bn approvd by th Council o Ministrs and ofcially stablishs coordination bodis
that ovrs ReDD+ in th country. This includs provisions or a National Committ: a dcision
making body that ovrss, amongst othr things, monitoring and valuation o projct impl-
mntation and th managmnt and rdistribution o subsidis and rsourcs driving rom th
ReDD+ procss.
Th Dcr also mandats that on third o th mmbrs o th National Committ should b
rprsntativs o civil socity and indignous popls organisations. Th National Committ
accordingly compriss our mmbrs o civil socity, si mmbrs o Govrnmnt (including th
Ministry or Dcntralisation), a mmbr o th Fdration o Wood Industris (i.., privat sctor)and a mmbr rom th National Institut or Agronomic Studis and Rsarch (i.., rsarch
sctor), supporting th ull and ctiv participation o non-govrnmntal actors. Projct coor-
dination structurs ar supportd by ddicatd unding to nsur th unctioning o national
ReDD+ institutions, and a undd consultation and participation plan to nsur th broadr
inclusion o local communitis byond th prsrv o national lvl structurs.
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Figure 7:Coordination structures governing the REDD+ preparation process in the DRC(Source: DRC, 2010)
Chaptr 3: Capacitis to dlivr nanc
National Committee
National Committee
National
Coordination
Scientic
Board
Coordination and
advise bodies Orientation, decision and planication bodies
National
Committee
C2
National coordination, globalrunning, IEC, consultationsand mobilisation, communitiesempowerment
C1
Building National Strategy andtechnical, institutional andlegal readiness
Building and implementationo a programme oexperiments
C3
Building and anticipatedimplementation o theREDD+ strategy
C2
Provincial empowerment, adaptation and reconstitution
Provinciale
mpowerment,adaptationandreconstitution
Ministr
yoEnvironment,Conservation
oNatu
reandTourism
MinistryoAgriculture
MinistryoEnergy
MinistryoMines
M.
In
astructures,
CivilEngineering/BEAU
MinistryoLandTenureAfairs
MinistryoPlan
M.
oInterioriandDeccentralisation
M.
RuralDevelopment
Ministryonance
NationalCivilSociety/GTCR
PrivateSectorOrganisations
Academia
,ResearchCentres
Fina
ncialandTechnicalPartners,
NGO
Stakeholders in charge o implementation
Interministerial
Committee
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Monitoring, Rporting, and
Vrication Capacitis
Th nal componnt o climat nanc radinss is th capacity to monitor, rport, and vriy (MRV) nan-
cial ows, pnditurs, and rsults. Within th contt o th UNFCCC ngotiations, MRV o nancial
ows and o rsults on th ground ar tratd as distinct issus. On on hand thr ar discussions about
th MRV o nancial ows; on th othr thr ar discussion about th MRV o mitigation actions thm-
slvs, such as GHG rductions and dvlopmnt bnts. Howvr, at th national lvl thr ar signi-
cant ovrlaps in th capacitis rquird to MRV nanc pnditurs and rsults, spcially whn rlatd
to paymnt-or-rsults. Such systms rquir an plicit attribution o GHG rductions (rsults) in ordr
to accss nancial ows (paymnts) and so ncssitat intgratd national rporting mchanisms. Thusa ibl approach is ndd to building MRV systms whil maintaining a consistnt lvl o transpar-
ncy and accuracy.
4.1 MRV Systems
MRV systms ar ndd to undrstand what nancial rsourcs ar owing whr, or what purpos
and how ctivly thy abat GHG missions and/or build rsilinc. Incrasingly nancial contribu-
tors rquir rporting o this natur; in addition, data is ndd to nsur that at national, rgional, and
global lvls actions ar collctivly adding up to what is rquird by climat scinc. Furthrmor,
monitoring national nancial ows is an important part o th nancial planning componnt o climat
nanc radinss; as data on nancial ows is collctd planning dcisions on nds, sourcs, and chan-
nls can b altrd crating a dynamic planning procss that is rsilint to a changing climat.
Capacitis to undrtak this work includ th ability to monitor nancial pnditurs on climat
chang activitis that ar both owing within and outsid th national budgt, including carbon
nanc ows. In addition, vrication systms ar ndd to calculat rsults and dtrmin th
impact o nanc on th climat, povrty rduction, and national dvlopmnt prioritis. National
Communications to th UNFCCC hav bn usd as a platorm through which to communicat both
nancial ows and rsults o nancd intrvntions. Th prparation o ths communications rquirs
strong nancial tracking systms. Such systms must not b limitd to intrnational public nanc but
also covr domstic pnditur and privat invstmnts. This rquirs a mi o tools and coordina-
tion systms. For ampl, Climat Public epnditur and Institutional Rviws (CPeIRs) rrrd to
arlir sctions provid a mthodology and systm or idntiying climat chang pnditurs within
domstic budgts.
4
Chaptr 4: Monitoring, Rporting, and Vrication Capacitis
As data on nancialows is collctd
planning dcisions on
nds, sourcs, and
channls can
b altrd.
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Chaptr 4: Monitoring, Rporting, and Vrication Capacitis
Additionally, a critical componnt o MRV o nanc is nsuring that rsourcs hav bn usd in lin
with rquirmnts rom both contributors and with national social and conomic dvlopmnt strat-
gisrquirmnts that ar not always congrunt. Spcically this mans national systms ar in plac
to vriy that nanc was implmntd and cutd in lin with social and nvironmntal saguards,as wll as othr social policis within national plans such as gndr considrations. Whil this gos
byond th strict monitoring o nancial ows, it is critical that systms to monitor nancial pndi-
turs ar also abl to idntiy th dvlopmnt impacts o thos rsourcs, so as to dback lssons
to th planning procsss. Within th UNDP Low emission Capacity Building Programm 30 countris
hav rqustd support to build or strngthn MRV systms.
4.2 Perormance-Based Payments
In addition to th pur MRV o nanc, thr is an incrasing nd to b abl to MRV nanc and rsults
at th national lvl in an intgratd mannr. An incrasing volum o public climat nanc or mitiga-
tionknown as prormanc-basd paymntsar disbursd to rcipint countris post acto, basd on
rsults. This is particularly th cas or bilatral climat nanc, whr donor and rcipint countris sign
advanc purchas agrmnts or mitigation activitis whr a d $/tCO2 pric is agrd at th outst
o th projct and dlivrd onc rsults ar provn. Similarly, an incrasing volum o contingnt grant
mchanisms ar availabl, whr rpaymnt o nanc is linkd to rsults achivd.
Capacity to conduct GHG mission invntoris will constitut th backbon o any MRV systm or ths
kinds o climat nanc options. Ths systms must b ully intgratd with nancial tracking to nsur
that rcipint countris ar abl to accuratly cost actions bing undrtakn disaggrgatd by unding
sourc. Building national MRV systms is compl and rquirs both a bradth o actors involvd in
dlivring nanc and activitis as wll as a dpth o tchnical skills among govrnmnt agncis. A ky
lmnt o radinss assistanc in this ara is th dvlopmnt o mthodologis that can b applid at
national and local lvls.
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Conclusion
Table 1: The Components o Climate Finance Readiness and associated capacities required
Chaptr 5: Conclusion
Financial Planning Accessing Finance Delivering Finance Monitor, Report &
Veriy
Levels o national
capacities
l Assess needs and
priorities
l Identiy sources o
nancing
l Programming nance
l Direct access to Finance
l Blend and combine
nance
l Catalyze private nance
l Project, programme,
sector-wide
implementation
and execution
l Local supply o
expertise and skillsl Coordination
systems
l Monitor, report, and
veriy fows
l Perormance-based
payments
Policy Level Formulation o green,
low-emission and
climate-resilient devel-
opment strategies and
implementation plan,
including costing
Sectoral policy
incentives and
regulations to catalyse
private investments
Institutional Level Eective national multi-
stakeholder coordination
mechanisms
Implementing entities
with duciary systems
and saeguards; national
banking institutions
Implementing & execut-
ing entities with duciary
systems and saeguards;
project-level multi-
stakeholder mechanisms;
climate-aware public
nancial management
systems
Centralised unit to com-
pile and quality control
reporting; communica-
tions unit
Individual/skills level Baseline assessments;
I&FF assessments;
expenditure reviews;
costs-benet analyses
Financial management
(combining/ blend-
ing) skills; project/
programme ormulation
skills; expertise in private
sector pricing incentives
Specialist technology
skills (e.g. wind energy
technologies
installation); project
management skills
Expenditure review
methodologies; GHG in-
ventory skills; indepen-
dent verication skills
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Chaptr 5: Conclusion
This papr has providd an ovrviw o th broad componnts o what it mans to b rady or climat
nanc, with dirnt capacitis, tools, and mchanisms that may b ndd to gt thr. As notd
prviously, this rprsnts a ramwork through which to viw both isting national dmand and
currnt activitis rom a wid bradth o countris, rathr than a prscriptiv st o stps that must bcompltd rom scratch by all. Many o ths capacitis may alrady b in plac in som countris, whil
othrs may rquir a gratr lvl o assistanc to build or strngthn national systms in ordr to c-
tivly us climat nanc. Morovr, th dmand or support and natur o rqusts may wll volv
ovr tim, ncssitating a ibl and country-drivn approach.
each o th our componnts o climat nanc radinss prsntd rquirs a combination o capaci-
tisincluding policy tools, institutional capacitis and tchnical skillsin ordr to unction ctivly.
Table 1 prsnts a typology o ths capacitis, drawing on th discussion and ampls rom th
prvious sctions o this papr. Th tabl illustrats th bradth and dpth o what is rquird to b
climat nanc rady in trms o th our-componnt ramwork. Morovr, it assists in undrstanding
th varid capacity dvlopmnt and tchnical assistanc srvics rquird to mak a country rady to
tak advantag o climat nanc, and it is thus a basis rom which utur radinss provisions can b
dsignd.
A strong ocus on building and strngthning ths policy tools, institutional capacitis, and tchnical
skills at th national and local lvls can improv th ability o dvloping countris to plan or, accss,
dlivr, and monitor and rport on climat nanc. This lads to mor ctiv and catalytic us o
climat nanc at th national lvl. With ths capacitis dvloping countris ar bttr placd to
ovrcom th ky challngs outlind in th introduction o this paprthat is, to absorb nanc, int-
grat it with ovrall dvlopmnt prioritis and procss and us it catalytically to gnrat transorma-
tions at th scal rquird to addrss climat chang.
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Annex &
Reerences
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National/Regional Implementing Entities Accredited to the Adaptation Fund (as or February 2012)
Senegal Cntr d Suivi ecologiqu (CSe) March 2010
Jamaica Planning Institut o Jamaica (PIOJ) Jun 2010
Uruguay Agncia Nacional d Invstigacion Inovacion (ANII) Jun 2010
Benin National environmnt Fund (FNe) Jun 2011
West Arican Development Bank (BOAD) Jun 2011
South Arica South Arican National Biodivrsity Institut (SANBI) intrsssionally Spt. 2011
Belize Protctd Aras Consrvation Trust (PACT) Spt. 2011
Jordan Ministry o Planning and Intrnational Coopration (MOPIC) Dc. 2011
Rwanda Ministry o Natural Rsourcs (MINReNA) Dc. 2011
Ann
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Rrncs
AGF (2010) High lvl Advisory Group on Climat Chang Financing. Unitd
Nations. http://www.un.org/wcm/wbdav/sit/climatchang/shard/
Documnts/AGF_rports/AGF_Final_Rport.pd
Boyd, e. et al. (2009) Rorming th CDM or sustainabl dvlopmnt: lssonslarnd and policy uturs. environmntal Scinc & Policy 12: 820831.
CDDe (2011) Climat Fiscal Framworks: Improving th ectivnss o
Climat Financ at th Country lvl. Capacity Dvlopmnt or Dvlopmnt
ectivnss Facility.
IeA (2009) World enrgy Outlook 2009. Intrnational enrgy Agncy, Paris.
Mullr, B. (2011) enhancd Dirct Accss. Submission to th Transitional
Committ on th issu o Thmatic Funding Windows (Workstrams II & III).
Oord Institut or enrgy Studis.
Mwap, C. (2011) Submission to th Transitional Committ or th dsign oth Grn Climat Fund by Ms Carol Mwap (Zambia) http://www.uroca-
pacity.org/nanc/documnts/Submission%20on%20dirct%20accss%20
and%20grants%20acility.pd
ODI and CDDe (2011) Climat Public epnditur and Institutional Rviw
(CPeIR): a mthodological not. Ovrsas Dvlopmnt Institut and th
Capacity Dvlopmnt or Dvlopmnt ectivnss Facility or Asia-Pacic.
ODI and UNDP (2011) Dirct Accss: eprincs and Lssons Larnd. UNDP
and ODI.
OeCD (2005) Th Paris Dclaration on Aid ectivnss. Organisation or
economic Coopration and Dvlopmnt.
UNDPs (2010) discussion papr Dvlopmnt in a Changing Climat: A
ramwork or Climat Financ
UNDP (2011a) Catalysing Climat Financ. UNDP.
UNDP (2011b) Prparing Low-emission, Climat-Rsilint Dvlopmnt
Stratgis: ecutiv Summary. UNDP
UNDP (2011c) Blnding Climat Financ Through National Climat Funds.
UNDP.
UNDP (2012) establishing a Multi-stakholdr Dcision-Making Procss or
Grn, Low-emission and Climat-Rsilint Dvlopmnt Stratgis. UNDP.
UNFCCC (2011) Dcision o th Conrnc o th Partis 3/CP.17: Grn
Climat Fund Rport o th Transitional Committ.
DRC (2010) Radinss Plan or ReDD+. Govrnmnt o th
Dmocratic Rpublic o th Congo. http://www.unrdd.nt/ind.
php?option=com_docman&task=doc_download&gid=5404&Itmid=53
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United Nations Development ProgrammeEnvironment and Energy GroupBureau or Development Policy304 East 45th Street, 9th FloorNew York, NY 10017 USA