Presentation template - WWF South Africa

International Context for Climate Finance• Under the United Nations Framework Convention on Climate Change(UNFCCC), developed countries are required to provide funds to supportdeveloping country climate change actions. Article 4.3 of the Convention statesthat:– The developed country parties and other developed parties included in annexII shall provide new and additional financial resources to meet the agreed fullcosts incurred b developing country parties in complying with their obligationsunder Article 12, paragraph 1.– They shall also provide such financial resources, including for the transfer oftechnology needed by the developing country parties to meet the agreed fullincremental costs of implementing measures covered by paragraph 1 of thisarticle and that are agreed between a developing country party and theinternational entity or entities referred to in Article 11.• The implementation of these commitments shall take into account the need foradequacy and predictability in the flow of funds and the importance of appropriateburden sharing among the developed country parties15