At Cancún, the COP decided to establish a Standing Committee to assist it in exercising its functions with respect to the Financial Mechanism of the Convention. But it left open how exactly this should be done. The ecbi Policy Brief by Farrukh Khan and Benito Müller begins by looking at the COP functions which the Standing Committee is meant to assist considering, in particular, how such assistance could enhance the implementation of the Financial Mechanism. Based on this analysis, the brief puts forward detailed recommendations concerning the functions and the form of the Standing Committee.