There may not be many items related to finance on the Subsidiary Bodies’ negotiations agenda, but as the Bonn Climate Conference reached its mid-way point, finance was the key issue of the day nevertheless.
The day started out with discussions on financial support for developing countries’ reporting under the Convention, which saw various entanglements surface. For one, there are interlinkages with the issue of support for developing countries’ reporting under the Paris Agreement and the transition between the two.
Then there is always the question of what gets captured in the transparency-related items versus in the finance items–in this case, under the item of guidance to the Global Environment Facility (GEF), which is on the agenda of the Dubai Climate Conference in late 2023. Finally, delegates also discussed the possibility of raising certain issues directly in GEF discussions in hopes of speeding up the process.
Moving on from the technical, transparency-related finance discussions, delegates used the roundtable on means of implementation, convened as part of the technical dialogue of the first Global Stocktake (GST) under the Paris Agreement, to broaden the scope. The event was a dialogue in name only, however.
Groups and parties used the opportunity to seemingly bundle together everything they ever wanted to say on finance, adding to the 170,000 pages of information that have already been uploaded to the GST information portal. Three hours were not enough for all to deliver their statements, so delegates met for another hour in the evening.
Finance was also the key focus of breakout group discussions at the second Glasgow Dialogue on loss and damage. Although there it was mostly non-party organizations, such as the International Organization for Migration (IOM) and Doctors Without Borders (MSF), speaking.
And of course, finance remained a key issue in the Heads of Delegation consultations on the Subsidiary Bodies’ agendas, which have yet to be adopted.