This discussion gives an overview of the Biennial Assessment through discussions of the summary and recommendations prepared by the SCF.
Participants in the Panel
- Aram Rodriuez de los Santos (National Institute of Ecology and Climate Change, Mexico),
- Caroline Wellemans (DG FISMA, European Commission)
- Dr Chantal Naidoo (Founder of Rabia Transitions)
- Paola Alvarez (Department of Finance, Phillippines, Diasy Streatfield (Institute Investors Group on Climate Change)
- Rapheal Jacknik (Environment Directorate, OECD),
- Damien Navizet (Agence Francaise de Development)
Rational approach of the chapter
Rational approach to this paper outlines that there is limited guidance from the member states approach to Article 2.1c and with public and private finance initiatives, there has been a ground squeal of activity when it comes to responding to the Paris Agreement. The approach that has been taken is to scope the initiatives by financial actors.
The initial findings show that while 2.1c speaks to consistency, a large part of the framing of the initiatives that are in the public and private domain are around aligning with the Paris goals. However, scoping the initiatives with limited guidance from member states on how to approach 2.1c offers some insights into the depth and breadth of response by the financial sector, further giving some indication of how the sentiment of article 2.1c is being operationalized:
- Action- Voluntary and mandatory,
- Different interpretations of finance flows and consistency
- Responses in relation to low GHG and climate resilience development
