Law-ref.org The Framework Convention on Climate Change
Site search

mechanism [Global Index]


ARTICLE-1: DEFINITIONS*     [go to this ARTICLE]
... 8. "Sink" means any process, activity or mechanism which removes a greenhouse gas, an aerosol or a precursor of a greenhouse gas from the atmosphere. ...


ARTICLE-11: FINANCIAL MECHANISM     [go to this ARTICLE]
... FINANCIAL MECHANISM ...
... 1. A mechanism for the provision of financial resources on a grant or concessional basis, including for the transfer of technology, is hereby defined. It shall function under the guidance of and be accountable to the Conference of the Parties, which shall decide on its policies, programme priorities and eligibility criteria related to this Convention. Its operation shall be entrusted to one or more existing international entities. ...
... 2. The financial mechanism shall have an equitable and balanced representation of all Parties within a transparent system of governance. ...
... 3. The Conference of the Parties and the entity or entities entrusted with the operation of the financial mechanism shall agree upon arrangements to give effect to the above paragraphs, which shall include the following: ...
... 4. The Conference of the Parties shall make arrangements to implement the above- mentioned provisions at its first session, reviewing and taking into account the interim arrangements referred to in Article 21, paragraph 3, and shall decide whether these interim arrangements shall be maintained. Within four years thereafter, the Conference of the Parties shall review the financial mechanism and take appropriate measures. ...


ARTICLE-21: INTERIM ARRANGEMENTS     [go to this ARTICLE]
... 3. The Global Environment Facility of the United Nations Development Programme, the United Nations Environment Programme and the International Bank for Reconstruction and Development shall be the international entity entrusted with the operation of the financial mechanism referred to in Article 11 on an interim basis. In this connection, the Global Environment Facility should be appropriately restructured and its membership made universal to enable it to fulfil the requirements of Article 11. ...