To facilitate this transition, developed countries formalised a commitment to mobilise USD 100 bn per year by 2020 at the 16th Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). However, while the quantity of climate finance is important, quantity alone is not sufficient to achieve the climate objectives of the Convention: it is a “means to an end” and not an end in itself. Ensuring the underlying quality, or effectiveness, of climate finance will also be crucial.