Chile and Colombia carry out a technical exchange to learn from their experiences in monitoring climate finance

April 28, 2023.- On April 17 and 18, technical teams from Chile and Colombia met in Santiago de Chile to share their experiences in the implementation of their climate finance (CF) measurement, reporting, and verification systems. The instance was promoted by the Pacific Alliance Technical Subgroup for Measurement, Reporting and Verification (SGT-MRV), which has the financial and technical support of Environment and Climate Change Canada (ECCC). Technicians from the Ministry of the Environment, the Ministry of Finance, the Ministry of Social Development and the United Nations Development Program (UNDP) on the Chilean side, as well as two specialists from the National Planning Department (DNP) of Colombia, the institution in charge of monitoring climate finance in Colombia, and the coordination team of the SGT-MRV.

The objectives of the meeting were:

  • Presenting the SGT-MRV, and the advances in the MRV component of climate financing to directors and technical teams in climate change in Chile and Colombia.

  • Generating a space for technical exchange and share lessons learned between Chile and Colombia in MRV of climate finance.

    • On the Colombian side, presenting its experience in the implementation and consolidation of the CF MRV system, detailed methodology for tracking financing (public, private and international), reporting platform and uses and applications that Colombia is giving it, and

    • Generating a space for exchange to understand the current status and needs of the MRV climate financing process in Chile, including the progress of technical support that is being carried out jointly with UNDP.

In conclusion, the vision of the Pacific Alliance countries to continue moving forward as a block towards standardized monitoring and reporting processes (what is reported and how) was ratified. The foregoing, including a common guideline on the classification of activities that are considered climate change. Part of this will be addressed in the next face-to-face meeting of the SGT-MRV that will be held at the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago de Chile on May 24, 25 and 26.