News / 28 mei 2015

Both ENDS co-hosts side event on climate finance accountability at UNFCCC negotiations in Bonn

During the UNFCCC Climate Change Conference next week in Bonn, Both ENDS,Transparency International, Human Rights Watch and Carbon Market Watch will host the side event “Environmental and social accountability for results based finance - Lessons learned and ways forward’’. This event will discuss how lessons from International Financial Institutions can inform the design and operation of appropriate redress mechanisms for the Green Climate Fund and other private and public climate finance flows.

Putting accountability center stage in the Green Climate Fund

The Green Climate Fund (GCF) is tasked by the UNFCCC COP (2011) to disburse massive volumes of funds (up to US$ 100 billion per year by 2020). GCF is currently finalising its operational procedures. Since it will outsource much of the grant making to other implementing agencies, GFC should do its utmost to prevent the lack of accountability which is often observed within financial intermediaries and other multilateral financial institutions.


GCF may be advised to refine the way it will ensure the highest standards of accountability in the potentially complex funding supply chains it will initiate. GCF is to ensure that well-functioning and accessible complaints mechanisms are in place to respond effectively to concerns about corruption and violation of social-environmental safeguards.


The role of Both ENDS

Both ENDS, on request of Transparency International, together with Natural Justice and legal expert Bruce Rich drafted a Briefing Paper which explores options for civil society organisations to help ensure the implementation of robust, well-functioning and responsive mechanisms under GCF to handle grievances related to corruption and violation of social-environmental safeguards. During the side event, this paper will be presented by Both ENDS.


Image: Daniel Zvereff

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