November 2009: The Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA) have released a paper titled “Financing Climate Change Mitigation: Towards a Framework for Measurement, Reporting and Verification,” which highlights existing knowledge and information about a range of different types of mitigation support and outlines a structure for a future framework for measurement, reporting and verification (MRV) to provide greater accountability and transparency.
Authored by Jan Corfee-Morlot and Bruno Guay of the OECD and Kate Larsen of the IEA, the paper finds that mitigation specific financial flows are estimated to be in the range of US$8-53 billion in 2007, which the study indicates is no more than one-sixth of the total financial flows going to sectors relevant to mitigation in 2007, such as energy, infrastructure, etc. The paper also highlights the need for domestic policy frameworks to steer private investments across relevant sectors and, within each sector, towards projects fostering mitigation.[The Paper]