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This policy brief outlines the context and objectives of the Fifth Review of the UNFCCC’s Financial Mechanism (FM), which was initiated at CoP18 in December 2012 and scheduled for conclusion by CoP20 in 2014. The document argues that the Review provides a critical opportunity to restructure the institutional architecture of climate finance, address past shortcomings of the Global Environment Facility (GEF), and integrate new entities like the Green Climate Fund (GCF) and the Standing Committee on Finance (SCF).

This report by the Center for International Environmental Law argues for the integration of a human rights-based approach into the global climate finance architecture. It evaluates existing mechanisms—the Global Environment Facility (GEF), REDD+ initiatives, and the Clean Development Mechanism (CDM)—and provides detailed recommendations for the design of the UNFCCC's Green Climate Fund (GCF) to prevent social and environmental harm.

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