Monitoring, Reporting, and Verification (MRV) System for Climate Finance

Public sector Colombia Monitoring and Control

The Colombian National Planning Department's "Monitoring, Reporting, and Verification" (MRV) system leverages AI algorithms to automate the tracking of climate-related investments by gathering, classifying, and analyzing data from various sources, including public, private, and international databases. It simplifies manual efforts by the Department of Sustainable Development (DADS) in monitoring investments. The system organizes and standardizes information to ensure consistency across time and institutions. It classifies climate financing projects by type (e.g., mitigation or adaptation) and tracks their impact in 12 sectors and 35 subsectors. Data from disparate systems is integrated into a single platform. The AI also estimates investment flows and verifies data accuracy through automated processes. Its core goal is to enhance transparency and inform decision-making on climate financing in Colombia.

SDG 9 Industry, innovation and infrastructure

SDG 13 Climate action

SDG 17 Partnership for the goals

#factcheck Ensures accuracy and reliability of financial data through a structured process of systematization, classification, and cross-referencing, reducing inconsistencies and enabling robust fact-checking.

#inform Consolidates and provides access to comprehensive information on public, private, and international financing for climate action in Colombia, including detailed classifications by sector, purpose (mitigation or adaptation), and funding source.

#monitor Tracks and centralizes data on public, private, and international climate-related investments, systematically categorizing them by sector, purpose (mitigation or adaptation), and funding source.

#visualize Provides user-friendly data visualization tools, including interactive dashboards and charts, to make climate financing data accessible and actionable for decision-makers and the public.