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OECD/IEA Release Studies on Climate Finance, Emissions Accounting Framework

OECD IEA31 May 2013: The Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA) released two analytical papers on climate change-related issues, which were prepared by the Climate Change Expert Group (CCXG). The first study deals with elements needed for a robust emissions accounting framework, and the second addresses mobilized climate finance.

The first paper, titled 'Made to Measure: Options for emissions accounting under the UNFCCC,' addresses essential components of an accounting framework as well as existing reporting requirements to inform on progress towards pledges presented by countries according to the UN Framework Convention on Climate Change (UNFCCC). The study focuses on two challenging areas for accounting: tradable greenhouse gas (GHG) emissions units, including options for tracking and accounting for unit flows; and accounting for the land use sector, including consideration of current land use, land-use change and forestry rules (LULUCF). The study states that, for the post-2020 agreement, a broader accounting framework needs to be developed with the objective of ensuring understanding of countries' mitigation objectives and achievements. It suggests possible alternatives for developing an accounting framework, including the possibility of building on the existing provisions for reporting.

The second paper, titled 'Comparing Definitions and Methods to Estimate Mobilised Climate Finance,' addresses the finance commitment made by developed countries at the 16th session of the Conference of the Parties (COP 16) to the UNFCCC to mobilize jointly US$100 billion per year, by 2020. It discusses the methodological framework and elements that could contribute to compare estimates of mobilized climate finance, including different definitions used by key actors in climate finance to quantify the level of private climate finance mobilized. Among others, the study concludes that methodologies for assessing mobilization vary and that there is a considerable risk of double counting. [Publication: Made to Measure: Options for Emissions Accounting Under the UNFCCC] [Publication: Comparing Definitions and Methods to Estimate Mobilised Climate Finance]