Chile, Colombia, Mexico and Peru launch national studies focused on the measuring, reporting and verification (MRV) of Climate Finance systems.
September 3, 2020. Climate Finance is a key element to accelerate the mitigation of greenhouse gases (GHG) and other short-lived climate pollutants (SLCPs) and is equally as important for adaptation to climate change. The Technical Subgroup on MRV and Climate Change (SGT-MRV) of the Pacific Alliance, technically and financial supported by Environment and Climate Change Canada (ECCC), supported the development of a baseline analysis on the MRV of climate finance investigated by a national expert in each country.
The objective of the reports was to analyze the gaps related to:
- Climate finance institutional infrastructure – assessing its governance, methodologies, protocols, regulatory instruments;
- Climate finance technology platforms and associated initiatives with the register.
The SGT-MRV has defined Climate Finance as one of the main working pillars in its Coordinating Framework. In addition to these Climate Finance reports; in May 2020, in collaboration with the Colombian National Planning Department (DNP), the Ministry of Environment and Sustainable Development of Colombia (MADS) and the Financial Management Committee of SISCLIMA in Colombia (CGF) a series of three virtual exchanges were carried out among technical teams involved in climate finance from each country in order to share experiences, challenges and successes in developing strengthened MRV systems that favor climate policy design and in attraction of investments needed to decarbonize local economies.
The SGT-MRV was created by the countries of the Pacific Alliance, with the principal objective to strengthen and advance the harmonization and alignment of Climate MRV systems for the reduction of GHGs and SLCPs. The SGT-MRV reports to the formal Working Group on Environment and Green Growth (GTAMCV) of the PA. The SGT-MRV will continue exchanging knowledge at the regional level in order to advance the design and implementation of effective climate policies.
The national reports on climate finance MRV systems can be found below: