Many investors see investment opportunities in both developed and developing countries and stand ready to work with policymakers to unlock the finance needed to deliver a net zero and climate resilient world by 2050. [...] In particular, it should ensure: A fair and balanced allocation across mitigation and adaptation, leveraging synergies between them to deliver a just transition; Delivery of quality finance, particularly in the form or grants and highly concessional finance, that strategically targets sectors, technologies and regions that struggle to attract private investments due to their risk-return profile. [...] The text should encourage developed countries to take action to: Review domestic and international financial regulations, to ensure they do not disadvantage developing countries’ access and ability to attract climate investments and can be applied on a proportionate basis. [...] Whilst noting the need for developed economies to also take a more global approach, the text should also encourage developing countries to take action to: Implement policies and regulations that support greater domestic and international private capital mobilisation as highlighted in the UAE consensus. [...] In particular, the NCQG should send signals to: Other UNFCCC processes – highlighting the role of climate finance in supporting developing countries to adequately respond to the outcomes of the Global Stocktake, put forward enhanced climate and adaptation goals in their NDCs and NAPs, and support wider conversations around making financial flows consistent with the goals of the Paris Agreement (Ar.
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Table of Contents
- Your Excellencies 1
- As you continue your efforts in delivering a fair and ambitious NCQG we are writing to share our perspective in working with global investors on the negotiation of this critical goal. 1
- To address the climate finance gap in developing countries many global investors are beginning to explore ways to unlock and mobilise capital. 1
- The NCQG can bring all parts of the financial system together by sending strong political 1
- We believe an ambitious NCQG can accelerate private finance mobilisation if it 2
- 1. Acknowledges the critical role of all financial actors 2
- 2. Secures an enhanced public finance goal 2
- In particular it should ensure 2
- A fair and balanced allocation 2
- Delivery of quality finance 2
- 3. Sends clear policy signals 2
- The text should encourage developed countries to take action to 2
- Review domestic and international financial regulations 2
- Unlock further capital 2
- Whilst noting the need for developed economies to also take a more global approach the text should also encourage developing countries to take action to 2
- Implement policies and regulations 2
- Strengthen broader policy governance and fiscal frameworks 3
- Ensure policy signals are effectively translated into domestic policy incentives and regulatory reforms 3
- 4. Encourages progress across parallel multilateral processes 3
- In particular the NCQG should send signals to 3
- Other UNFCCC processes 3
- Art.2.1c. 3
- Other multilateral processes 3
- We look forward to further engagement with the UNFCCC the Troika Presidencies Parties and beyond to address these important issues ahead of and at COP29. 3
- Yours sincerely 3
- Stephanie Pfeifer CEO IIGCC 3
