The Global Stocktake (GST) process has the potential to provide the depth that has been missing in the UNFCCC process in finance themes.
This publication from the Finance Working Group of the independent Global Stocktake (iGST) outlines seven ways in which the GST could and should strengthen the post-2020 climate finance agenda.
The first GST in 2023 will set the standard for assessment of global progress on financing climate action. It must review the commitment of developed countries to provide $100 billion a year, from public and private sources, to developing countries for climate action. It is the only place to consider the progress made towards the third long-term goal of the Paris Agreement – the consistency of finance flows with low-emission, climate-resilient development pathways. And, it sits as an important way-marker en route to the new, larger climate finance goal.