Iccn 2. Final Assessment

The target for Fast-start finance is to generate 30 billion USD by 2012.

The target of long-term finance is to generate 100 billion USD per year by 2020.

Nationally Appropriate Mitigation Actions (NAMA) refers to a set of policies and actions that countries undertake as part of a commitment to reduce greenhouse gas emissions. NAMA aims to address climate change by implementing specific measures that are suitable and relevant to each country's unique circumstances and development goals. These actions can include adopting renewable energy sources, improving energy efficiency, implementing sustainable transportation systems, and promoting sustainable land use practices. NAMA allows countries to contribute to global efforts in reducing emissions while considering their national priorities and capabilities.

GEF 5 uses the STAR method for allocation of funds to developing country parties. The STAR method, which stands for System of Transparent Allocation of Resources, ensures that the allocation of funds is done in a transparent and fair manner. This method helps to promote accountability and efficiency in the distribution of funds, ensuring that the resources are allocated to projects and countries that have the greatest need and potential for impact.

As an implementing entity of the Financial Mechanism, GEF is accountable to the Conference of the Parties. The Conference of the Parties (COP) is the supreme decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC). It consists of representatives from all member countries and meets annually to review the implementation of the convention and make decisions on actions to address climate change. GEF's accountability to the COP ensures that its activities and funding decisions align with the goals and objectives set by the international community in combating climate change.

The nature of the Review of Financial Mechanism is described as periodic. This means that the review occurs at regular intervals or specific times. It suggests that the review is not conducted randomly or irregularly, but rather on a scheduled basis. The periodic nature of the review allows for a systematic assessment and evaluation of the financial mechanism, ensuring that it is regularly reviewed and updated as necessary.

The correct answer is False because Financial Mechanism is not clearly defined in Article 11 of the convention. The convention may mention financial mechanisms, but it does not provide a clear definition or explanation of what those mechanisms are. Therefore, the statement that Financial Mechanism is clearly defined in Article 11 of the convention is incorrect.

Designated National Authorities (DNAs) and National Implementing Entities (NIEs) are not normally the same organizations. DNAs are typically government bodies or agencies that are responsible for coordinating and overseeing the implementation of international climate change agreements at the national level. On the other hand, NIEs are entities that are accredited by the Green Climate Fund (GCF) to receive and manage climate finance for projects and programs. While there may be cases where DNAs also serve as NIEs, it is not the norm.