Operationalizing The UNFCCC Finance Mechanism
Source: South Centre
Parties to the United Nations Framework Convention on Climate Change (UNFCCC) have recognized the need to "Urgently enhance implementation of the Convention in order to achieve its ultimate objective in full accordance with its principles and commitments" (Preamble, Bali Action Plan). The Bali Action Plan recognizes the need for "Enhanced action on the provision of financial resources and investment to support action on mitigation and adaptation and technology cooperation". Efforts to scale up financial resources and investment should build where possible on the best practices under the UNFCCC financial mechanism and other relevant financial mechanisms, with the objective of enabling all Parties to fully implement the principles and provisions of the UNFCCC and address the threat of dangerous climate change.