German Institute of Development and Sustainability (IDOS)’s Post

As the annual climate change summit entered the fourth day Brazil, South Africa, India and China (BASIC) also reiterated the need to fully implement the Paris Agreement 2015, a legally binding international treaty COP29: BASIC countries ask rich nations to honour commitments for climate finance rather than ‘diluting obligations’ - https://lnkd.in/gYp5y9i4, For the best experience read this on The Hindu App. https://bit.ly/THNewsApp

🌍 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

Global finance is an imperative for relevant, scalable and sustainable adaptation actions, and lifeline for millions. As 900 climate events unfold in New York this week, among the many critical discussions is mobilising climate finance —a top desired outcome for the COP29 Azerbaijan summit in November. Katherine Browne, SEI researcher and International Climate Risk and Adaptation Team Lead, sent recommendations to negotiators in Baku ahead of the latest round of New Collective Quantified Goal (NCQG) talks earlier this month. "Setting a clear target for climate finance is a complex process," Browne explains, emphasizing crucial questions around contribution amounts, methods of calculation, and expanding the list of contributing countries. With sharp divisions still persisting over funding for vulnerable nations, Browne’s call to prioritize scale, effectiveness, and equity in adaptation finance is more crucial than ever as COP29 approaches. Whether you're in New York this week or involved in the negotiations, take a moment to explore her insights, aligned with the #ItsTime theme, and help drive meaningful progress. 👉 https://buff.ly/47DPRAt #ClimateWeekNYC #ClimateFinance #NCQG #Adaptation

A whole heap of very good analysis has focused on what the new #climatefinance goal must do to steer global investment over the coming decades. But I've seen much less focus on what the goal must do for climate #adaptation. My new brief highlights #ncqg must-haves for sufficient, effective, and equitable adaptation finance. Read the brief and the background here: https://lnkd.in/dm68JSut

EU Leads Climate Finance and Carbon Market Advancements at COP29 What groundbreaking developments did the European Union achieve at the COP29 UN Climate Change Conference? At the COP29 UN Climate Change Conference, the European Union made significant strides by securing a historic agreement on climate finance and enhancing rules for international carbon markets. The EU introduced a New Collective Quantified Goal for Climate Finance, aiming to mobilize $1.3 trillion annually by 2035, with developed countries contributing $300 billion per year to aid developing nations. For the first time, emerging economies are joining as contributors. The EU also finalized rules under Article 6 of the Paris Agreement, providing UN-backed sta... 👉 Read more on our website today https://lnkd.in/d-d6g_Gt ❓ What's your take on this news? We'd love to hear your insights in the comments below! ✉️ Subscribe to our newsletter to stay updated with important industry news https://lnkd.in/dRV4mPk

Delegates in Bonn are currently negotiating global climate finance at the Bonn Climate Change Conference. China's position on global climate finance is disputed: on the one hand, China is unwilling to contribute to the UNFCCC's Loss and Damage Fund, while on the other, it contributes funds through alternative financing channels, including its South-South Climate Cooperation Fund and the Belt and Road Initiative. More thorough and up-to-date research on this topic and China's role is needed: You have around one more month left to submit your 300-word abstract for a paper on China's contribution to the global loss-and-damage agenda. The deadline is June 30, 2024. The University of Bremen will be hosting an online workshop on November 27, 2024, to discuss this timely topic and your contributions. Please forward the Call for Papers to interested colleagues, and find more details on submissions and the workshop here: https://lnkd.in/dPeB4jJh #China #lossanddamage #Bonnclimateconference #cop29 #unfccc #globalsouth #climatefinance #callforpapers

As COP29 unfolds, developing countries are waiting to see if the New Collective Quantified Goal (NCQG) will be more than just a headline. This new climate finance target is set to replace the $100 billion/year promise made in 2009 (which was only met once in 2022), and this time, it must deliver real results. The backdrop? $6.8 trillion (NDR by UNFCCC) required by 2030 for climate action in developing nations. But with global uncertainties - U.S. political shifts, a fractured EU, and ongoing conflict in Ukraine - rallying collective support isn't just challenging; it’s critical. We can’t afford a two-speed energy transition. Baku's success hinges on addressing the fundamentals, including: ✅ Grant vs. loan-based support – Developing nations shouldn't be plunged into further debt for climate actions they’re compelled to take. ✅ Public vs. private funds – A mix is essential ✅ Clear responsibility – “Who pays?” is not an optional question but a fundamental one. As climate negotiations continue, Baku has an opportunity to push the global community beyond empty promises. A just transition isn’t just a buzzword; it’s a mandate.

Can new financing targets fulfill the promise of climate justice? 🌎⚖️ Financing will be one of the central topics at #COP29 in Baku. Particularly relevant is the decision on the New Collective Quantified Goal on climate finance (NCQG), which will also determine whether the core agreement of the Paris Agreement is upheld: developed countries providing financial support to developing countries to enable them to implement more ambitious climate goals. However, it is crucial that this does not become an ambiguous global investment target but rather that developed countries are obligated to make concrete payments—amounting to trillions. Only in this way can the massive funding gap be closed and climate adaptation in developing countries be made possible. ➡️Read our analysis on the New Collective Quantified Goal on climate finance by Liane Schalatek: https://lnkd.in/eat_azhm Also on our COP29 Dossier: 👉 Damage caused by climate change: Can the new climate fund deliver what it promises? (https://lnkd.in/esnSbh_j)

At COP29 Azerbaijan the G77 and China bloc rejects the first draft of the climate finance negotiating text and demands $1.3 trillion in annual climate finance flows from developed countries. Read our detailed summary by Sehr Raheja Upamanyu Das Avantika Goswami of CSE’s Climate Change programme https://lnkd.in/gvEhdFEJ

🌱 ECDPM will be at COP29, actively contributing to the discussions and shaping the future of global climate finance policy. Decarbonisation and climate resilience in African countries is critical to the success of global climate action, but presents a major financial challenge. This year’s COP goal to quantify a target for climate finance could help close the now significant funding gap. However, merely suggesting a target is not enough. Climate action and the green transition are central to ECDPM’s work. For many years, we have closely monitored climate negotiations, particularly in the context of Europe-Africa relations. In the lead-up to COP29 and throughout the conference, we will share our analysis and insights, with a special focus this year on the climate finance negotiations. For our work on climate and climate finance, and for events as they are announced, read our COP29 page 👉 https://bit.ly/3ZPjkFJ