(四) (n) ((0) ((P) [(9) 36 research and development, and the training of scientific, Finance its operations from a fund, separate from its programme Provide annual reports to the Conference of the Parties on its operations and, inter alia, on evaluation and assessment of the effectiveness of its functions and, as required, information to the subsidiary bodies of the Conference of the Parties, in order that they can fulfil their mandates; Administer the [joint implementation] [cooperative system of Administer operations required of it by protocols to this Convention, and any other matters agreed on by the Conference of the Parties;] and Explore ways and means to employ financial resources to promote the flexibility of intellectual property rights with a view to promoting the transfer of sound technology to developing countries.}} OPTION 2 [1. The Parties hereby designate the Global Environment Facility (GEP) established and operated jointly by WB/UNDP/UNEP as the mechanism for the provision of financial resources to Parties in need of assistance in meeting agreed incremental costs of implementing this convention. 2. The Conference of the Parties shall, in accordance with relevant Rules of Procedure, establish appropriate arrangements with the GEF to implement Paragraph 1 above. Such arrangements shall include inter alia: (a) (b) (c) (d) (0) (f) modalities to promote the involvement of the Parties in the GEF (with a view to ensuring a transparent system of governance of the mechanism and a balanced representation of developed and developing country Parties]"; provision for the GEF in funding projects related to the convention to [comply with]/[consider] the (policy and] programme priorities and eligibility criteria established by the Conference of the Parties; provision for receipt by the GEP of requests from Parties in need of assistance in meeting agreed incremental costs of implementing this Convention; provision by the Conference of the Parties or its subsidiary bodies to the GEP of information that might promote the implementation of this Convention, including the establishment of cooperative linkages between the STAP and scientific and technical bodies established under this Convention; provision by the GEF of regular reports through the Convention Secretariat to the Conference of the Parties on its operations related to the implementation of this Convention, including projects selected; financial expenditures; current and anticipated funding reserves; the relationship between its operations related to the implementation of this Convention and other assistance it is providing in sectors relevant to climate change; and other information of interest to the Conference of the Parties; provision for the Conference of the Parties to request the GEF to reconsider a particular funding decision in the light of the criteria and priorities referred to in paragraph 2(b); 3. The Conference of the Parties shall periodically assess the operation of the GEF as the mechanism for the provision of financial resources related to the implementation of this Convention, with a view to modifying the arrangements under Paragraph 2 as may be appropriate. • Note: The portion in square brackets is not a legal text. 38 [4. Parties may also provide assistance related to the implementation of this Convention through bilateral or other multilateral channels. In this regard, interested Parties may meet, on an ad hoc basis, to consider whether any Party is interested in assisting another Party in the implementation of a proposed project the latter has identified in its national report. Parties may, as appropriate, invite representatives of multilateral financial institutions to such meetings for the purpose of providing them with an opportunity to consider projects for inclusion in their development assistance portfolios.]] OPTION 3 Establishment [1. An International Climate Fund is hereby established under the authority of the Conference of the Parties which shall decide on its overall policies and operations, in particular determining priorities, criteria and selection of projects and activities to be funded. It shall be distinct and independent from other funds and international financial institutions. 2. The mechanism for financial resources and transfer of technology set up under the International Climate Fund, shall be administered as follows: Punctions relating to financial resources (a) Meet on a grant basis the full incremental costs of measures taken by developing country Parties to address climate change, in accordance with criteria to be developed by the Conference of the Parties; (b) Cover the costs to developing country Parties of adaptation and mitigation measures that may be needed as a result of the adverse consequences of climate change and the direct and indirect social and economic costs to developing countries that may result from the implementation of the Convention; (c) Be responsible for receiving assessed and other contributions, either financial or as otherwise provided by Parties and other bodies, in accordance with criteria set out by the Conference of the Parties; (d) Establish appropriate accounting procedures to ensure that all assessments and contributions made to fulfil the obligations of the Convention are properly recorded, credited and accounted for; (●) Be responsible for facilitating the identification and selection of projects and activities for supporting the efforts of the Parties to meet their obligations under this Convention; (૬) Finance the secretariat services of the Fund and related support (g) Provide? annual report to the Conference of the Parties on its operatie and, as required, information to the subsidiary bodies of the Conference of the Parties, in order that they can fulfil their mandates; and (h) Provide, in general, funding for projects and activities organized under this Article and in accordance with the provisions set out by this Convention. Functions related to transfer of technology (i) Pursuant to the operational guidelines and policy direction of the Conference of the Parties, coordinate the appropriate procedures and take the necessary steps to promote, facilitate and enable the transfer of technology} 39 (1) Provide funding to purchase requisite technologies for the implementation of projects undertaken by developing country Parties under the mechanism set up by the International Climate Fund; (k) Promote, and finance when necessary, the exchange of and access to technological information required by the Parties. The technological information should include inter alia, the environmentally sound and safe technologies including those that have been neglected or displaced, the technological options, trading conditions, implementation costs and technological security, (1) Coordinate ways and means to develop long-term technological partnerships between the holders of environmentally sound technologies and potential users in Parties, particularly developing countries, taking into account their national objectives and policies; (m) Organize, when requested by a recipient Party, or group of recipient Parties and on terms and conditions set out by such recipient countries, international competitive bidding to purchase requisite technologies for transfer to the requesting parties; (n) Provide requested support to a recipient Party or group of recipient Parties to assess the offers presented in international competitive bidding, to enable the requesting parties to obtain the most favourable terms and conditions, including inter alia, in terms of price, transfer of know-how, high safety and environmental requirements, training, supply of spare parts, and maintenance; and (0) Ensure the development of endogenous capacity building in developing country Parties, including technologies in the public domain, in accordance with their development plans, objectives and priorities of these countries, through, inter alia, the supply of necessary equipment, expertise and facilities for research and development, and the training of scientific, technical, and managerial personnel.] Option 1 (VI.6. INSURANCE] (SHALL ISLAND AND LOW LYING STATES) (The Parties shall establish separate supplementary financial mechanisms to assist developing countries, particularly least developed countries, vulnerable small island and low lying coastal developing countries (and developing countries with vulnerable mountain areas] [and countries suffering from desertification or drought] to prevent or mitigate the adverse consequences of sea-level rise (and drought and desertification] resulting from climate change, as specified in [Annex IV] (Insurance Mechanism).] Option 2 [The Conference of the Parties shall consider what action is necessary under the Convention to meet the concerns of the most vulnerable small island and low lying developing countries about the adverse consequences of sea-level rise.] Option 3 [The Parties shall establish separate supplementary financial mechanism[s] to assist developing countries, particularly those most vulnerable among them, to counter, mitigate, and/or adapt to the adverse consequences of climate change. The details of such mechanism(s) shall be specified by the Conference of the Parties. } Option 4 [The Conference of the Parties shall (at its first meeting] consider [the establishment of an insurance scheme] [what action is necessary to meet the [concerns] [needs] of the Parties which are vulnerable small island or vulnerable low lying coastal developing countries relating to the adverse consequences of sea-level rise.]] 41 VII. PROCEDURES VII.1. REPORTING 1. Each Party (shall], [in accordance with its capabilities,] prepare, submit and periodically update a report containing the information [set forth in Annex II] including the measures it is taking to implement the Convention. [For developing country Parties, the fulfilment of this obligation will be conditional on the availability of corresponding new and additional financial resources.} (The availability of financial resources from the financial mechanism shall be contingent upon the full implementation of this obligation.] [2. Each Party shall submit an initial report within x years of entry into force of the Convention for it [,except that for each country defined as a developing country for the purposes of this Convention, an initial report shall be submitted within y years of the Convention coming into force for it,] and further that a least developed country may submit its first report within z years of the Convention coming into force for it (or within four years of receipt of financial resources from the fund established under this Convention, whichever is the later]. The frequency of subsequent reports for all Parties shall be determined by the Conference of the Parties. [For developing country Parties,] financial and technical (assistance] [cooperation] in the preparation of such reports shall [,if they so request, ] be provided through procedures developed under the provisions of Article VI.6.][determined by the financial mechanism identified in Article VI.6].] [3. Any group of Parties may, subject to prior notification to the Conference of the Parties and any guidelines adopted by the Conference of the Parties, submit a single report in fulfilment of their obligation under paragraph 1 above, provided that such report includes information on each Party's fulfilment of its individual obligations.] [4. The reports submitted by the Parties shall be transmitted by the secretariat, as soon as possible, to the Conference of the Parties (and to the (names of any subsidiary bodies concerned with the implementation).] 5. Information contained in the reports, designated as confidential by the supplying Party in accordance with [Annex II] [criteria to be defined] shall not be disclosed by any of the bodies concerned with the reports.1/ (6. Subject to the provisions of para. 5, and without prejudice to the ability of any Party to make public its report, the secretariat shall make, the reports submitted by Parties publicly available (at the time they are submitted to the Conference of the Parties] [at any time, after the Conference of the Parties has considered the report from the body in charge of implementation).] [7. The manner in which reports would be prepared and their content, should [, subject to Annex II,] be determined by the individual Party.) 1/ [It has been proposed that Annex II have the following introduction: "Nothing in this annex shall be interpreted as requiring Parties to disclose information relating to national defense." One delegation requested that while certain essential information in the reports would be obligatory, some flexibility should be given with regard to other information.] (VII.2. RESOLUTION OF QUESTIONS REGARDING INTERPRETATION AND IMPLEMENTATION OF THE CONVENTION Process [1. Questions relating to the [interpetation or] implementation of the Convention may be drawn to the attention of the Conference of the Parties by Parties (and by any subsidiary body established by or under the Convention]. Any Party concerned about another Party's implementation of its obligations under the Convention or about its own capacity to implement fully those obligations may notify its concern, through the secretariat, to the Conference of Parties. The Conference of Parties shall, in a timely fashion, consider any such question and promote its resolution. To that end it may, if it so decides, establish an [ad hoc] Panel of ... of its members] [or] [refer the issue to the Implementation Committee).] Possible Alternative Paragraph 1 [1. Any Party concerned about another Party's (interpretation or] implementation of its obligations under the Convention or about its own capacity to implement fully those obligations may notify its concern, through the secretariat, to the Implementation Committee:] 2. The [ad hoc] Panel [Implementation Committee], when the Conference of the Parties decides to refer a question to it, shall, in considering the question before the next ordinary meeting of the Conference of the Parties: (a) (b) (c) (d) (0) Invite the Party which has brought the question to the attention it, › Provide the Party whose (interpretation or] implementation of the Consult, as it deems necessary, any subsidiary body established Promote, as necessary, the enhancement of the capacity of the Report the results of its consultations, together with any recommendations, to the next ordinary meeting of the Conference of the Parties. Consideration of Report 3. After considering the report of the [ad hoc] Panel (Implementation Committee), the Conference of the Parties may decide to adopt a recommendation or recommendations to promote the full implementation of the Convention and further its objectives. Voting 4. The Conference of the Parties shall make every effort to take decisions under this Article by consensus. If all efforts at consensus have been exhausted decisions shall, as a last resort, be taken by a two-thirds majority vote of the Parties present and voting. Additional Rules 5. The Conference of the Parties may in elaboration of the provisions of paragraph 2 of this Article, lay down additional rules relating to membership of [ad hoc] Panels, their meetings and procedures. Relationship to Dispute Settlement (VII.3) OPTION 1 submission of 6. If, after the expiry of ... months following the initial any questions to the secretariat pursuant to paragraph 1 of this Article, any Party continues to have a concern relating to the (interpretation or] implementation by another Party of its obligations under the Convention, it shall be entitled to invoke the dispute settlement procedures, established by Article (VII.3.) (Settlement of Disputes) of the Convention. OPTION 2 6. The provisions of this Article are without prejudice to the operation of Article (VII.3.) (Settlement of Disputes) of the Convention.] |