3 October 2014: The eighth meeting of the UNFCCC Standing Committee on Finance (SCF 8) convened in plenary and working groups to review documents, hear reports and discuss agenda items on: climate finance flows; the financial mechanism; Forums of the SCF; guidance to operating entities; financing for forests; measurement, reporting and verification (MRV); the SCF report to the 20th session of the Conference of the Parties (COP 20); and other matters.

The meeting, which took place from 1-3 October 2014, in Bonn, Germany, was chaired by SCF Co-Chairs Diann Black-Layne (Antigua and Barbuda) and Stefan Schwager (Switzerland). The event was webcasted and open to attendance by observers from parties and accredited observer organizations. Working group sessions were arranged on: the first biennial assessment and overview of climate finance flows (BA); the fifth review of the financial mechanism; draft guidance to the operating entities of the financial mechanism; coherence and coordination on the issue of financing for forests; MRV of support beyond the BA; and the outcome of the 2014 Forum on mobilizing adaptation finance, and the 2015 Forum on financing for forests.

During the meeting, presentations were given: by the SCF working group on the BA on the outputs of the first BA and related meeting objectives and follow ups; by the UN Development Programme (UNDP) on managing climate expenditures in the Asia and the Pacific; and by the Climate Policy Initiative (CPI), on data and information gaps on climate finance.

On the last day, Co-Chair Black-Layne presented the proposed structure of the report of the SCF to COP 20, which includes sections on: introduction and mandate; recommendations for action by COP 20; and the work of SCF in 2014, among others. She noted that SCF’s recommendations this year will be lengthy and will include, inter alia: the first BA; the fifth review of the financial mechanism; 2014 and 2015 Forums of the SCF; and guidance to operating entities. Co-Chair Black-Layne noted that six or seven COP 20 decisions are expected on the work by the SCF in 2014.

Black-Layne informed that the UNFCCC Secretariat would finalize the report, which would then be circulated among the SCF members by 20 October for comments, and revised based on these. The final report will be sent to SCF members, and adopted on a non-objection-basis, by 3 November. The meeting was unable to reach a conclusion on guidance to the Green Climate Fund (GCF).

On other matters, the SCF considered the term of the SCF members, date and venue of its next meeting, and the adoption of the report of the SCF 8, among others. The meeting also included an executive session, open to SCF members only. [SCF 8 Meeting Agenda and Documents] [SCF 8 Meeting Webcast]