This issue brief examines critical topics for COP29 climate finance negotiations, focusing on establishing a New Collective Quantified Goal (NCQG) to replace the previous $100 billion commitment. The report highlights major challenges, such as determining an appropriate funding quantum, expanding the contributor base to include emerging economies, and shifting away from loan-based finance to grants and concessional terms. It advocates for transparent accountability frameworks and suggests aligning NCQG goals with Article 2.1(c) of the Paris Agreement to ensure consistency with low-emission pathways. Based on insights from a recent SFC webinar, the brief discusses strategies to mobilize private investments, improve equity in funding allocation, and balance responsibilities between developed and developing nations to enhance climate action.
Authors
Nikita Shukla, Aman Srivastava, Easwaran J. Narassimhan, Sonali Verma, Kashmeera Patel
- Pages
- 5
Table of Contents
- Climate Finance at COP 29 What New Collective Quantified Ambition 1
- 1. Quantum of Funding 2
- 2. Expanding the Contributor Base for Climate Finance 2
- Avantika Goswami of CSE highlighted this challenge stating 3
- 4. Accountability Transparency and Effectiveness in NCQG 4
- 5. Overlap with Article 2.1c Joe Thwaites pointed out that Achieving 4
- Article 2.1c alignment means not only scaling up climate finance but also shifting away from high-emission investmentsthis is key to true climate action. 5
