32. NAMAs should be submitted by developing countries to the EBFTM for support.
33. The proposed Financial and Technology Mechanism on Mitigation is meant to ensure the full, effective and sustained implementation of the Convention, in relation to the implementation of commitments for the provision of financial resources and cooperation on technology research, development, diffusion and transfer, in accordance with Article 4.1, 4.3, 4.4, 4.5, 4.8 and 4.9 of the
Convention and in accordance with Article 11 of the Convention, with the aim of achieving:
(a) Accessibility, affordability, appropriateness and adaptability of [environmentally-sound and safe] technologies required by developing country Parties for enhanced action on mitigation;
(b) Provision of full costs and full incremental costs, in accordance with Article 4.3 of the Convention;
(c) Adequacy and predictability of funds for [environmentally-sound and safe] technology transfer;
(d) Removal of barriers to [environmentally-sound and safe] technology development and transfer.
34. The Financial and Technology Mechanism on Mitigation shall:
(a) Operate under the authority and guidance of, and be fully accountable to, the COP;
(b) Have an equitable and geographically balanced representation of all Parties within a transparent and efficient system of governance in accordance with Article 11.2 of the Convention;
(c) Ensure that financial flows for mitigation will be sourced and governed in a transparent and balanced manner.
35. The provision of support shall be guided by the following principles:
(a) Be underpinned by the principles of equity and common but differentiated responsibilities;
(b) Enable direct access to funding by the recipients and ensure the provision of new and additional, adequate and predictable financing resources for technology transfer;
(c) Ensure recipient country involvement during the stages of identification, definition and implementation, rendering it truly demand-driven;
(d) Ensure that support is based on the needs identified by developing country Parties;
(e) Ensure that specific support is being provided for specific actions.
(f) Support the development and enhancement of endogenous capacities and technologies of developing country Parties;
(g) Ensure that the funds are spread evenly, ensuring equity, a fair distribution of benefits and an even spread across all economic sectors;
(h) Provide incentives by linking supporting measures in technology and finance and capacity-building with efforts in measurement, reporting and verification.
Option to paragraph 35
The Conference of the Parties serving as the assembly of the Parties shall decide procedures for the allocation of funds for actions, which the Board of the Multilateral Fund on Climate Change shall develop.
36. Developing country Parties shall decide when the level of support is sufficient for the implementation of a proposed NAMA. They retain the right to delay implementation of the proposed NAMA if they consider the level of support insufficient.
