The methodology revolves around four key aspects of defining, tracking and reporting climate finance:
- Transparency: to adopt a standardized financial reporting format with common definitions and methodologies to quantify climate finance.
- Comparability: to encourage a universal methodology/approach by which institutions can assess and estimate mobilized climate finance.
- Consistency: to promote a yearly accounting requirement for financial institutions and national governments on climate finance.
- Flexibility: to allow for a practical, adaptable and coordinated universal reporting system to track climate finance