International public finance

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This module concentrates on climate finance in Colombia from international public sources of finance (i.e. multilateral and bilateral funds). It includes both the financial commitments and disbursements made by international public sources of climate finance. The module presents information in a variety of forms:

​Users of the platform of the Climate Finance MRV System can also download the entire database of international public financial flows [IM5] that has been uploaded to the platform.

Steps to estimate international finance

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Step 1. Determination of international public climate finance providers

The first step to estimate international finance is to determine the relevant providers of climate finance. The Climate Finance MRV system currently focuses on multilateral or bilateral sources of public finance. The categorization below provides an overview of some of these sources.​

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Step 2. Data collection

Information on financing from these international agencies was collected through: existing public databases and interviews with staff of international providers of climate finance.

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Below is an indicative list of activities related to climate change that is used in the system to categorize international public climate finance committed and disbursed to Colombia.

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Step 3. Systematization of the information

Once the relevant information is compiled, it is reviewed and organized to ensure it is consistent and comparable. The international public finance was categorized by: the name of the action, type of action, sector and sub-sector, source of finance, intermediary, recipient, implementing entity, territorial scope of analysis, financial instrument, term of financing, amount in Colombian pesos and US dollars, source of information, and use of the resources.  

Step 4. Assessment of the information

Once systematized, the information is assessed against four methodological criteria that categorize actions into actions explicitly addressing climate change mitigation and/or adaptation (criteria 1) and actions that are associated with mitigation and/or adaptation to climate change (criteria 2-4). The latter consists of actions that generate positive climate change mitigation and adaptation outcomes, regardless of whether the purpose of the action has been explicitly deliberated. The criteria also help categorize actions according to their effect on climate mitigation, adaptation, or both.​

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Step 5. Estimation of climate finance

Once the actions and their respective amounts have been identified and classified, the total amount of international public finance is estimated.

According to criteria number 1, actions with the explicit purpose of combating climate change are estimated as 100% climate change actions. Actions that were not explicitly created to combat climate change but nonetheless contribute to the reduction of emissions and vulnerability are counted separately so as to not inflate the numbers for climate actions. However, given the complexity of quantifying the exact share of the resources that contribute to combatting climate change, 100% of the finance has been classified as actions associated with climate change mitigation and/or adaptation (criteria 2-4).

Step 6. Validate of the information

In case of doubt about the accuracy of the data, a validation process provided more details. The validation confirmed that the information from the contributor of finance matched the information from the recipient of finance.

Step 7. Reporting information

Once the estimation of climate finance is complete and validated, the next step is the preparation of reports[IM1]  that present the various dimensions of international public climate finance information in a clear and understandable way for a variety of audiences.

Reports can present information about the following aspects: