The Reformed Financial Mechanism of the UNFCCC Part II: The Question of Oversight Post Copenhagen Synthesis Report
This Energy and Environment Paper follows the original publication on the Refomred Financial Mechanism proposal (OIES EV 45). It analyses four areas of oversight:How to design decision making (processes and remits) for the UNFCCC COP and RFM executive body so as to ensure sufficient political oversight and buy-in without the danger of over-politicized micro-management of the RFM management of its financial flows. How to ensure proper stakeholder representation in particular how to design the selection of stakeholder representatives and how to design their role in the decision-making process.How to design independent oversight (audit monitoring and evaluation) procedures within the framework of existing legal arrangements which will provide sufficient safeguards against malpractice both at the international and the national level. How to oversee financial flows to ensure compliance with financial commitments.