The Contribution of the Conference of the Parties to a Supranational Anti-Corruption Ecosystem

Abstract

The UNFCCC Conference of Parties (COP), its equivalents under the Kyoto Protocol (the CMP) and Paris Agreement (the CMA) and its subsidiary bodies (hereinafter collectively referred to as the COP) have a crucial but little-studied role to play in safeguarding the integrity of climate finance. The functions of the COP relating to climate finance integrity can be divided into three categories: First, the adoption of frameworks and guidance to Parties concerning transparency, including reporting requirements and related activities; second, guidance to entities established or mandated by the COP to mobilise climate finance directly (namely, the Financial Mechanism operating entities and the Adaptation Fund) or indirectly through related activities such as technology transfer and carbon crediting; and third, the establishment of mechanisms to hear complaints or resolve disputes that may concern climate finance integrity, such as the Kyoto Protocol's compliance committee, its Paris Agreement equivalent and potential grievance and dispute resolution processes for the Article 6.4 mechanism. The ability of the COP to contribute to a supranational anti-corruption ecosystem concerning climate finance is challenged by long-running structural issues. Nevertheless, 2024 offers significant opportunities to strengthen the COP's contributions to climate finance integrity. Ambitious COP guidance on integrity can help to create the confidence needed to scale the provision and mobilisation of climate finance.