Climate-Consistent Finance Flows in the Agriculture, Forest and other Land Use Sector: A Framework for Reporting on Article 2.1(c) of the Paris Agreement
By signing the Paris Agreement, countries agreed to strive to meet the long-term goal of making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development (Article 2.1c). This recognises the need for coordinated shifts and reforms to ensure climate change is considered in financial decision-making and acknowledges the need for changes in the institutions and systems that govern these financial flows. However, guidance to countries on how to report on the climate-consistency of finance flows into agriculture, forestry and other land uses (AFOLU) is still missing. We propose an assessment framework that can be used to develop a nationally appropriate set of indicators on climate-consistency of AFOLU finance flows. This will support the identification of the actions already being taken that are climate-consistent and highlight opportunities to fill gaps. The framework is intended to be flexible and non-prescriptive, allowing for nationally driven indicators to be selected and designed in light of a country’s climate-change objectives and the degree to which the AFOLU sector is relevant to their climate objectives. Such a framework is a key opportunity to incorporate reporting towards Article 2.1c in the first Global Stocktake of the Paris Agreement.
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