As we approach the end of the first week of the COP, negotiating texts are starting to be slimmed down, reducing in size and removing the numerous brackets that surround alternative proposals.
On climate finance, there has been some progress, with the text on future climate finance flows being particularly relevant to GCF in light of its current replenishment process. Article 9 of the Paris Agreement states that 'Developed country Parties shall provide financial resources to assist developing country Parties with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention.' Whilst the intention is clear, there are many tricky questions to resolve, for example how to report, when to report - and even who reports (should developing countries also be encouraged to do so?).
As part an operating entity of the financial mechanism to the UNFCCC, GCF will certainly play a key role - whichever way the text is eventually agreed.
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