Centre for Science and Environment, New Delhi’s Post

With the New Collective Quantified Goal (#NCQG) on climate finance due to be agreed at #COP29, countries still have much work to do to reach consensus in November.    The Center for Climate and Energy Solutions (C2ES) breaks down possible options for several key NCQG elements, including the structure, sources, timeline, qualitative features, and transparency of the goal in our latest UNFCCC submission.    A robust climate finance outcome in #Baku could spur greater climate action and reinvigorate the climate regime with the funds necessary to implement more ambitious #NDCs.     Read our analysis here: https://lnkd.in/ebDCesWu

COP29: Three days in, countries still waiting for 'workable' climate finance draft #COP29 #COP29Baku #COP29Azerbaijan #ClimateChange #ClimateFinance #Azerbaijan #Baku

Alissa M. Kleinnijenhuis has co-authored a Joint Statement on the New Common Quantified Goal (NCQG) of Climate Finance and Its Delivery on the 1.5°C Paris Agreement Goal #ClimateFinance is paramount: In an open letter to the UNFCCC UN, PIK - Potsdam Institute for Climate Impact Research Director Johan Rockström, and other professors and leaders in Climate Finance call for an urgent revision of the New Common Quantified Goal of Climate Finance #NCQG. The proposal "that developed countries would provide 'at least $300bn a year by 2035, be made up of a wide variety of sources, including public and private, bilateral and multilateral funding, including alternative sources' is completely inconsistent with the Paris Agreement aim", they write. https://lnkd.in/dFtKbe7z

As experts gather to discuss the New Collective Quantified Goal on #ClimateFinance to be adopted at #COP29, there is no consensus on what climate finance means. It may seem intuitive that a common definition would be useful, but even this is contested, revealing stark divisions and a lack of trust between developed and developing countries. As euan ritchie and Martha Getachew Bekele explain, for the #NCQG to be credible, clearer rules are needed. https://lnkd.in/eYAibQ3U

Did you know developed countries have made it clear that they do not want a common definition for climate finance? In this piece, my brilliant colleague euan and I discuss this and implications to the New Collective Quantified Goal.

“Tackling the climate crisis needs two things: political will and financial investment." This excellent analysis unpicks one of the #climatefinance challenges at the centre of #COP29. Long-term, sustainable funds are needed to confront the #climatecrisis and power the energy transition - but current sources of finance are not sufficient, and developing economies don’t have equal access to finance, despite experiencing the worst impacts of climate change. The article includes a nod to the task force's research into new and equitable climate levies to raise the finance we need to confront the #climatecrisis. Read more below 👇 https://lnkd.in/eYjg5sbf

#DYK that the world achieved the $100 billion #ClimateFinance goal that was agreed on during the 2009 @United Nations Framework Convention on Climate Change by counting finance that wasn’t exclusively for climate or that wasn’t new? Words matter, and as policymakers discuss the new collective climate finance goals, they should ensure that the new standards they present during #COP29 are clear, detailed, and achievable. I found this perspective on the @Center for Global Development blog interesting as it provides suggestions on clear metrics and measuring progress toward them. To meet our climate goals, the world needs for new funding streams and transparency. I look forward to a new framework that provides that transparency and created accountability for global leaders to truly supports #ClimateAction for #SustainableDevelopment: https://ow.ly/JEMF30sEOwO

🌍 At COP29 in Azerbaijan, the EU is championing global action to meet the Paris Agreement goals and limit temperature rise to 1.5°C. With €28.6 billion in public climate finance provided in 2023, the EU is driving efforts to align global financial flows with climate goals. This year’s focus? The adoption of a New Collective Quantified Goal (NCQG) on Climate Finance to unlock investments and accelerate climate action. Discover how the EU is leading the way in climate finance at COP29! 👇 #COP29 #ClimateAction #ParisAgreement #Sustainability #ClimateFinance #GlobalLeadership #EUClimateLeadership European Commission European Union Union for the Mediterranean

Countries are set to prepare a new collective quantified goal for climate financing at #COP29Azerbaijan. This new goal offers an important opportunity to improve the way that climate finance is provided and increase the goal. 📚 Read the full article here: https://lnkd.in/efxAFQrw

The 29th Conference of the Parties (#COP29) is being held from November 11 to 22 November, 2024. In this commentary, Heena Samant, Research Associate, VIF, states that climate finance is to take center stage at the annual climate conference. The conference will focus on climate finance with the aim of advancing the implementation of the Paris Agreement. https://lnkd.in/giAXDDyA