As outlined in previous analysis for the CCXG, there is no agreement to date on which activities, flows and interventions are to be labelled “climate finance” (see e.g. Clapp et al., Similarly, there is no common understanding of what is meant by “effectiveness”. While there is overlap in views between different stakeholders on what climate finance effectiveness is, there are also differences. These differences relate to the aims, sources, and channels of finance for the intervention.