The success of the Paris Agreement depends in large measure on the legal and operational details of the “enhanced transparency framework” under article 13, including the transparency framework for climate financial support. The transparency framework for financial support will guide how parties are to report the progress toward meeting their commitments to provide financial support for climate action in developing countries and, where support is received, on its use.
Developed countries’ pledge to provide financial support to developing countries was a cornerstone of the compromise that enabled the virtually consensual global adoption of the Paris Agreement in 2015. This financial pledge will remain crucial throughout the implementation of the Paris Agreement. Transparency on how this financial support is actually going to be delivered is essential to maintain trust and to promote broad compliance with the climate mitigation and climate adaptation commitments under the Paris Agreement. Yet, almost three years after the Paris Agreement adoption, many aspects of the transparency framework for financial support remain unclear.