and

REVIEW OF THE FINANCIAL MECHANISM

(Decision 3/CP.4)

• implement adaptation measures in particularly vulnerable countries and regions;
• enable them identify their prioritized technology needs,
• build capacity for participation in systematic observational networks;
• meet the agreed full costs to prepare initial and subsequent national communications by maintaining and enhancing national capacity;
• assist with studies leading to the preparation of national programmes to address climate change and response measures;
• assist in strengthening national activities for public awareness and education;
• support capacity for identifying technology suppliers, designing and hosting projects, and accessing information from regional centers and networks;

GEF was also encouraged to further streamline its project cycle, simplify its project approval process and make transparent its process for determination of incremental costs. GEF was requested to ensure that its implementing agencies are made aware of COP decisions and report to the COP on its efforts to implement this decision.

The COP decided that the GEF shall be an entity entrusted with the operation of the financial mechanism and will be reviewed every four years according to the terms contained in a annex to the decision (regarding objectives, methodology and criteria).

The annex contains issues and questions on practicial steps to promote and facilitate technology transfer, such as, how can Parties identify and remove barriers to technology transfer and what publicly owned technologies are available. The questions in the annex also address support for endogenous capacities and assistance in facilitating transfers.

(Decision 5/CP.4)

Adverse impacts of climate change and/or  the implementation of response measures

• identification of adverse impacts of climate change;
• identification of the impacts of the implementation of response measures under the FCCC
• identification of specific needs and concerns of developing country Parties arising from adverse effects and impacts defined through national communications;
• identification of actions to meet the above-specified goal, including funding, insurance and transfer of technology

Parties requested SBSTA to initiate a process to of compilation and analysis of available information needed to elaborate Articles 4.8 and 4.9. Parties also requested SBI and SBSTA to continue consideration of the implementation of Articles 4.8 and 4.9 and their tenth and eleventh sessions and report to COP-5.

Parties adopted a programme of work set out in an annex to the decision. The programme of work calls for specific actions and deadlines, including identification of initial actions needed by COP-5 and taking decisions on further action by COP-6 in 2000.

• guidelines concerning provisions under Article 6 (certified emission reductions/joint implementation);
• modalities and procedures for a CDM as defined in Article 12;
• relevant principles, modalities, rules and guidelines, in particular for verification, reporting and accountability of emissions trading;

Parties were invited to submit further proposals on the mechanisms by the end of February 1999, as an input to technical workshops, and additional proposals by 31 March 1999 for compilation by the Secretariat.

The Secretariat, under the guidance of the SBI and SBSTA chairs, was requested to convene two technical workshops before 15 April 1999, based on inputs by Parties and drawing upon relevant contributions from UN agencies, IGOs and NGOs.

The Secretariat was also requested to prepare, for consideration by the subsidiary bodies at their tenth sessions, a plan for facilitating capacity building for developing countries, especially the small island states and the least developed states, in CDM activities project activities and for facilitating the Parties with economies in transition in the other mechanisms.

The SBI and SBSTA chairs were requested to produce a synthesis of proposals by Parties for consideration by the subsidiary bodies at their tenth sessions.