Climate Finance Transparency and Accountability
The Paris Agreement stipulates that structures and guidelines for the reporting of financial resources will be developed. These structures and guidelines will help to ensure that finance flows and transactions are clear and transparent, that progress is being made toward the USD 100 billion goal, and that finance is being effectively directed to countries in need. To that end, Article 13 of the Paris Agreement establishes a Transparency Framework designed to provide clarity on support provided and received by individual parties. In addition, the framework is expected to provide a full overview of aggregate financial support in line with tracking achievement toward the overall global climate change goal.
As part of this Transparency Framework, Kenya is expected to provide information no less frequently than biennially on support needed and received under Articles 9 (finance for mitigation and adaptation), 10 (technology development and transfer) and 11 (capacity building). Parties to the Paris Agreement shall participate in a facilitative, multilateral process to consider progress on efforts to finance mitigation and adaptation. Developed countries are also expected to communicate biennially on their efforts to mobilise these funds, including their provision of public funds for climate action.
Progress is being made in Kenya to ensure that climate finances reach poor rural people in the most, effective, efficient and transparent way. The National Treasury has developed a Climate Change Budget Code through the IFMIS system that will help to code, track and report on-budget climate related expenditures. A framework for tracking off-budget climate finances e.g. from the private sectors, CSOs, foundations etc. will be developed.