The GM at CRIC: improving the quality of financial information

On Tuesday 13 March, the Committee for the Review of the Implementation of the Convention (CRIC) discussed ways and means of improving procedures for communication of information as well as the quality and format of reports to be submitted to the Conference of the Parties. 

Simone Quatrini, Coordinator for Policy and Investment Analysis at the GM, made an intervention which stressed the need to improve national reporting and obtain more accurate financial information.

 

The GM attaches great importance to national reports not only because they are the main official source of information on activities undertaken by country Parties to implement the Convention, but also because they are a primary vehicle for sharing success stories and for showcasing examples of achievements in areas such as mainstreaming, partnership, coordination, and resource mobilization.

 

The reports submitted by the Countries during the three reporting cycles, Mr Quatrini said, varied significantly in terms of substance, level of detail and format.  

Notwithstanding improvements in recent years, there are still major discrepancies between the reports of developed and developing countries, even when reporting on co-funded initiatives.  

In such circumstances, it is difficult for the GM to aggregate data to measure funding trends and make cross-country comparisons.

 

This is why the GM follows closely the work of the Ad Hoc Working Group (AHWG) established by COP7 to improve the quality and format of national reports and supports initiatives to improve reporting harmonization, standardization and the accuracy of financial information on relevant activities.

 

The GM’s interest in this work stems, inter alia, from Decision 24/COP.1 which calls for the GM to establish a comprehensive database on the financial needs of affected developing country Parties and of relevant bilateral and multilateral cooperation programmes and available financial resources. 

The GM’s Financial Information Engine on Land Degradation (FIELD) in addition to responding to these mandates, is also used to monitor investment flows and analyse financial patterns and trends.

For more information, please contact:

Mr Simone Quatrini, Coordinator, Policy & Investment Analysis
Tel. +39 06 5459 2154
s.quatrini (at) ifad.org