Article 2.1c of the Paris Agreement breaks new ground. It is the first time that the United Nations Framework Convention on Climate Change (UNFCCC) process has set a collective goal reflecting the full scale of effort needed on finance to successfully address climate change.

To contribute to the fight against climate change, the MDBs have to date largely operated under what we refer to as a Climate Finance Paradigm. That paradigm involves defining, tracking, and maximizing the amount of climate finance that MDBs provide and mobilize.

Article 6 of the Paris Agreement establishes a framework for international cooperation that enables countries to engage in international carbon market mechanisms. Article 6.4 establishes a new crediting mechanism with international oversight.

Negotiations have started on a new global framework for biodiversity. In 2020, in Beijing, a new international biodiversity framework will be agreed under the Convention on Biological Diversity (CBD). This policy brief provides relevant insights for the CBD negotiations gained from an analysis of the Paris Agreement.