Paragraph 53 of Decision 1/CP.21 on the “Adoption of the Paris Agreement” lays the foundation for the New Collective Quantified Goal on Climate Finance (NCQG), stipulating that “…prior to 2025, the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement shall set a new collective quantified goal from a floor of USD 100 billion per year, taking into account the needs. [...] While generally agreeing with the approach of concordance of Article 2, particularly paragraph 1(c), of the Paris Agreement with the NCQG, the developing countries emphasize that the NCQG should reflect the goals of making finance flows consistent with pathways toward low greenhouse gas emissions and climate-resilient development on the basis of the principle of equity, common but differentiated r. [...] Emphasising the needs and priorities of developing countries, particularly the voice of the most vulnerable, including LDCs and Small Island Developing States (SIDS), the developed countries highlight that the NCQG should reflect the dynamic nature of needs and priorities and respond to them. [...] They stress that the principles and transparency of support arrangements agreed as part of the ETF must form the basis for the NCQG in order to Page 11 of 20 Road to Baku: The New Collective Quantified Goal on Climate Finance place trust at the centre of the NCQG. [...] Respecting the spirit and the letter of Article 9 of Paris Agreement The foundation of the NCQG and climate finance actions is unequivocally centred on Article 9 of the Paris Agreement, which focuses on addressing the "needs and priorities of developing countries" (United Nations, 2015).
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Table of Contents
- Authors 2
- Reviewer 2
- Corresponding author 2
- General queries 2
- Acknowledgements 2
- Suggested Citation 2
- ISBN 978-93-94657-89-2 2
- Abstract 3
- Keywords 3
- Contents 4
- 1. Introduction 5
- 2. State of Climate Finance 5
- 3. New Collective Quantified Goal on Climate Finance 7
- Figure 1 A Timeline towards NCQG 8
- Figure 2 Key elements of NCQG 9
- 4. Analysing Positions 9
- Global South Positions 10
- Global North Positions 13
- 22000 USD 250 tons CO2 equivalent 40000 USD 52000 USD 20000 USD 15
- 5. The Road to Baku 16
- Respecting the spirit and the letter of Article 9 of Paris Agreement 16
- Adopting a Needs-Based Approach to Climate Finance 16
- Expanding the Contributor Base A Potential Recipe for Stalemate 17
- Including Additionality in the Definition of Climate Finance 17
- Will Baku deliver on NCQG 18
- Annexures 19
- Annexure 1 Countries among ten largest current emitters with purchasing power parity PPP adjusted gross national income GNI per capita 19
- Annexure 2 Countries with cumulative emissions per capita with a GNI per capita PPP of more than 40000 USD 20
- Annexure 3 Countries with GNI per capita PPP above USD 52000 21
- References 22
- World Sustainable Development Summit 25
- Act4Earth COP Compass SDG Charter 25
- Road to Baku The New Collective Quantified Goal on Climate Finance 26
- Keywords 26
