Decision 58/37

Following discussions, the Executive Committee decided:

1. To note the report on a special funding facility for additional income from loans and other sources (decisions 55/2 and 57/37) as contained in document UNEP/OzL.Pro/ExCom/58/49;
2. That the detailed account of the Executive Committee’s discussion on the establishment of a facility for additional income and loans and other sources would be included in the Report of the Executive Committee to the Twenty-first Meeting of the Parties, together with a reference to the document considered by the Executive Committee on the subject (UNEP/OzL.Pro/ExCom/58/49);
3. To request the Secretariat to prepare a further concept paper for the 59^th Meeting expanding on papers presented to date with respect to the elements raised at the 58^th Meeting, and in particular, highlighting a definition of a facility and the added value of establishing a facility;
4. To request the Secretariat and the Treasurer to address the implications of optimally managing credits for climate change and other environmental benefits from the global carbon markets with a view to making that component of a facility operational;
5. To request the Secretariat to seek advice from external carbon market specialists on how the market might best be employed in the longer term in the context of a facility;
6. To accept the offer of the World Bank to make a representative from its Treasury Department available to the 59^th Meeting of the Executive Committee to present mechanisms, such as advanced commitments, for dealing with additional financing and blending Multilateral Fund funds with carbon financing; and
7. To defer consideration of requests for resource mobilization pending further discussion on this topic.