Seven ways the Global Stocktake can strengthen the post‐2020 climate finance agenda

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. 

The seven ways in which the GST could and should strengthen the post-2020 climate finance agenda include:

1. The Global Stocktake is a core and dynamic element of the 2015 Paris Agreement, and a key opportunity to seek greater ambition for finance.
2. The GST outcome must demonstrate the shortfalls 2 of poorly defined climate finance goals.
3. The GST is an opportunity to regularly assess 3 progress on climate finance effectiveness.
4. The GST should oblige the global community to take a closer 4 look at equity in financing climate action.
5. The GST should bring loss and damage into the climate finance agenda.
6. The climate finance community should capitalise on the GST as an opportunity to explore innovative climate finance instruments.
7. The GST must accelerate the climate-consistency of all finance flows in a post-2020 climate finance architecture.