Report on the 2018 Intersessional Correspondence Group on Sustainable Finance

The ICG on Sustainable Finance (ICG-SF) met by correspondence during 2018. It made three proposals: (i) Create a Working Capital Fund, and change the Financial Regulations governing the way that this fund and the General Fund would be managed (CCAMLR-XXXVII/07); (ii) change the structure of the notification fees for new, exploratory and krill fisheries, and increase them annually in line with CPI (inflation) to generate a sustainable finance stream into the future (CCAMLR-XXXVII/08); and (iii) set up a General Capacity Building Fund, funded by voluntary contributions and surpluses in the General Fund, and set up an ICG to establish the terms of reference for this fund during 2019.