The purpose of the Thematic Working Group for Financing Mechanisms (TWG FM) is to bring together interested COPA Members, supported by invited external experts and consultants, to jointly work on identifying and developing financial mechanisms suitable for GHG mitigation measures in the ODS and HFC banks sector. 

The working group defines its own specific goals, its work plan, and implements activities together. Meetings take place on a regular basis  and the results from the TWG are reported and presented annually, and on demand, to the COPA Plenary. 

If you are interested in joining the TWG FM work and contribute to driving the solution and financing of sustainable ODS and HFC bank management forward, please fill out the application and become a COPA member. Then join our thematic working group! 

Workplan, Meetings & Documentation

The TWG FM was inagurated in December 2022. The TWG FM work and related documentation are available below:

• 2022, December 1st: First Meeting (virtual)
  The TWG FM terms of references were presented, setting a framework for the collaboration in the TWG FM. View Minutes of Meeting and Presentation here. 
  
  
• 2023, January 25th: extra-ordinary meeting (virtual)
  Presentation and review of Study on Financing Mechanisms opportunities for COPA.
  View Minutes of Meeting and Presentation here. 
  
  
• 2023, March: election of Chair and Vice-chair for TWG FM (online for TWG FM Members)
  
  
• 2023, March, 30th: Second meeting (virtual) 
  Presentation and demo: Experience, methodologies and a tool to estimate the viability of carbon markets for end-of-life management of refrigerants. 
  View Minutes of Meeting and Presentation here. 
  
  
• 2023, April 25th : COPA Study publication
  "COPA Financing and Fundraising Mechanism: A Review and Concept" - download or view pdf-file here 
  
  
• 2023, May 3rd, COPA Report publication: 
  "Using carbon markets to reduce emissions from end-of-life refrigerants and foam blowing agents" - download or view pdf-file here. 
  The report was commissioned by UNDP's Montreal Protocol and Chemicals and Waste Unit, as a COPA partner, and it contributes to the achievement of COPA’s objectives.  The report was presented at the second meeting of TWG FM on 30th of March 2023.
  
  
• Financial Model Tool in EXCEL
  The financial model presented in the report above can assist in assessing the financial feasibility of projects under Article 6.2 for Internationally Transferred Mitigation Outcomes (ITMO) but can be adapted for voluntary markets as well. Neither COPA nor UNDP are be responsible for any damages, losses or other consequences esulting from the use of this tool. The information in this document does not constitute legal or other professional advice.
  The tool is available upon request via mail to Ajiniyaz Reimov (ajiniyaz.reimov@undp.org). 
  
  
• 2023, October 12, Project Brainstorming session
  "Brainstorming for conceptual project ideas" - download or view pdf-file here
  Discussion of potential COPA Project examples, with focus on what type of finance that would be suitable for the identified projects.
  
  
• 2024, April 18, COPA 101 Series – Fundamentals of Financing Mechanisms
  A recording of the session is available here.
  Download or view pdf-files of the presentations here:
  Session1: Carbon Credits introduction, moderation and COPA oerview by Louis Potok, TWG FM Chair
  Carbon Credits and Carbon Market Fundamentals by Tilden Chao, CCL
  Paris Agreement Article 6 by Malin Emmerich, COPA Secretariat / GIZ
  
  
• 2024, June 06, Presentation on Beyond Value Chain Mitigation (BVCM) 
  A recording of the session is available here.
  Download or view pdf-files of the presentations here: 
  Introduction and Fundamentals by TWG FM Vice-chair Adrian Bukmanis 
  Beyond Value Chain Mitigation by Juliette de Granpré, New Climate Institute

OVERVIEW OF THE WORK IN 2023

While the importance of finance is commonly acknowledged, there is not yet alignment in how different types of finance can support available solutions for ODS and HFC bank management. The Working Group brings together COPA members and invited experts to jointly develop such suitable financial mechanisms. During 2023, we had 3 meetings; first to review a concept for a COPA Financing and Fundraising Mechanism, secondly, to get a demonstration of the methodologies and tool developed to estimate the viability of carbon markets for end-of-life management of refrigerants. In the last quarter, the elected chair and vice-chair set-up a brainstorming session for evaluating and collecting viable project ideas for COPA based on the open call for ideas. We are looking forward to discussing further financing mechanisms and investment opportunities in 2024.