A central issue in the Paris climate negotiations is how the new global climate agreement to be reached this year can help strengthen climate finance for developing countries. Developed countries have committed under the United Nations Framework Convention on Climate Change (UNFCCC) to help developing countries reduce their greenhouse gas emissions and adapt to the impacts of climate change. The new agreement will build on steps already taken and define an approach to climate finance for the post-2020 period.

This brief provides an overview of: existing finance commitments, institutions and mechanisms under the UNFCCC and the Kyoto Protocol; current climate finance flows; potential finance-related objectives in a 2015 climate agreement; and options for addressing finance in the 2015 agreement.