Climate finance transparency – a harmonized framework to mobilize public and private finance

Climate finance is at the core of climate action. Mobilizing the vast sums of public and private funding required to combat climate change, which the World Resources Institute estimates to be around 5 trillion USD annually until 2030, is a tremendous challenge. Transparency in climate finance is essential for ensuring that the vast resources allocated to address climate change are used effectively and efficiently. It fosters accountability, builds trust among stakeholders (most importantly investors), and helps to track progress towards global climate goals.

This side-event will discuss key implications from the application of the upcoming ICAT Climate Finance Transparency Guide, developed by CCAP, in collaboration with experts from the ClimateNet. Several countries will showcase how they have been establishing national climate finance transparency frameworks in line with existing Measurement, Verification and Reporting (MRV) frameworks, and how this can help to mobilize additional climate finance.