Developed countries (and other countries willing to commit to providing support) committing to a step change in international support and the implementation of measures to increase the scale and effectiveness of the international development finance system. [...] Figure 1: Overview of proposed NCQG model N E W C O L L E C T I V E Q U A N T I F I E D G O A L O N F I N A N C E – P O L I C Y B R I E F I N G 3 N O V E M B E R 2 0 2 4 Context – State of play in the climate negotiations A key component of the Paris Agreement was a commitment to set a new collective quantified goal which would replace the commitment of developed countries to mobilise $100bn per y. [...] How to meet these needs has been subject to much debate within the international community, in particular the N E W C O L L E C T I V E Q U A N T I F I E D G O A L O N F I N A N C E – P O L I C Y B R I E F I N G 4 N O V E M B E R 2 0 2 4 level of international support that is needed to drive that investment alongside commercial finance and structural reform and who should be responsible for provid. [...] This will need to bridge 12 IMF/World Bank Development Committee (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries, From Vision to Impact: Implementing the World Bank Evolution, April 2024 N E W C O L L E C T I V E Q U A N T I F I E D G O A L O N F I N A N C E – P O L I C Y B R I E F I N G 1 2 N O V E M B E R. [...] This is likely to need consideration beyond the confines of the UNFCCC – and could for instance be considered under next year’s N E W C O L L E C T I V E Q U A N T I F I E D G O A L O N F I N A N C E – P O L I C Y B R I E F I N G 1 3 N O V E M B E R 2 0 2 4 Financing for Development discussions – but could be reflected in the NCQG decision.
Authors
- Pages
- 15
- Published in
- United Kingdom
Table of Contents
- POLICY BRIEFING 1
- ROB MOORE 1
- Summary 1
- This would reflect a concrete goal in the hundreds of billions per year. combined with a defined goal to increase quality public finance for adaptation 2
- Context State of play in the climate negotiations 4
- The structure and composition of the goal 5
- Linking support and investment An outer investment layer 8
- Beyond the quantum Political priorities for reaching agreement 9
- Finding a solution on the contributor base 9
- Thematic sub-goals Adaptation and Loss Damage 10
- Providing assurance to middle income countries on continued access to international support 11
- Implications for COP29 12
- This could create a positive synergy between the NCQG and IFA reform agenda 13
- High level political leadership 13
- About E3G 15