Standing Committee on Finance. The SCF was established at COP16 in Cancun, to assist the COP in relation to the Financial Mechanism of the Convention. This includes improving the coherence and coordination of climate finance, rationalizing the Financial Mechanism, mobilizing financial resources and measuring, reporting and verifying (see MRV) support provided to developing countries. The SCF is expected to report and make recommendations to the COP at each ordinary session on all aspects of its work.
Sources and Learn more:
unfccc.int (The Financial mechanism under the UNFCCC)