Day: Friday, 4 December
Venue: Official COP venue, Observer room 1

On 4 December 2015, as part of the COP21 in Paris, Carbon Market Watch together with Both ENDS and Transparency International organized a side event on accountability of results based finance.

Programme

• Eva Filzmoser, Director at Carbon Market Watch, Lessons learnt from the Clean Development Mechanism
• Dr. Sumaiya Khair, Deputy Executive Director at Transparency International Bangladesh, Corruption Risks in National Climate Finance: The Bangladesh Experience – Read presentation
• Paul Wolvekamp, Deputy Director at Both ENDS, Ensuring that the GCF Meets Society’s Expectations Regarding Accountability and Sustainability

Moderator: Lisa Ann Elges, Programme Manager at Transparency International 

Eva Filzmoser from Carbon Market Watch reflected on the experience with Clean Development Mechanism (CDM) projects and explicitly highlighted the fact that the CDM does not have an accountability mechanism. Presenting case studies and negative impacts implemented projects can have, this was underlined as one of the biggest shortcomings in this mechanism’s set up. Dr. Sumaiya Khair from Transparency International Bangladesh underlined the lack of transparency, accountability, public participation and cases of corruption when implementing projects financed by the Adaptation Fund (AF).  She raised the urgent need for an accountability mechanism to deal with irregularities. The last speaker of the panel, Paul Wolvekamp from Both ENDS reflected on the opportunities and challenges of the Green Climate Fund (GCF) and highlighted the importance to build on the lessons learnt from the CDM, the AF and other funding institutions with special regards to the existing gaps in accountability mechanisms and the social as well as environmental implications that can result from implemented projects.

The civil society panel was joined by the high level panellists Bram Schim van der Loeff from the European Investment Bank (EIB), Diana Harutyunyan from the CDM Board and Michael Kracht from the Adaptation Fund. The panellists shared experiences and developments from their respective institutions and addressed the highlighted shortcomings regarding effective accountability mechanisms by the speakers as well as from the floor.

Read full event report here.

Accountability of results based finance #COP21 side event @GCF_News @UN_CarbonMechs @EIBtheEUbank @adaptationfund pic.twitter.com/STZ7silobF

— Carbon Market Watch (@CarbonMrktWatch) 4 Décembre 2015