Perspectives Climate Group’s Post

📢 2024 is crucial for climate finance, ⚖️ with the New Collective Quantified Goal (NCQG) set to be finalized at #COP29 later this year. The goal could become the most significant climate finance deal ever reached under the #UNFCCC framework. Perspectives Climate Research, 🤝 in collaboration with ECBI, has published a briefing note shedding light on the negotiation process so far, key issues, and differences among Parties as they deliberate on key elements of the NCQG such as the structure of the goal and sources of finance. Our colleagues Sherri H. O., Igor Shishlov, and Axel Michaelowa delve into these points and highlight opportunities for country Parties to align on key issues between now and COP29. Discover the briefing note at ➡️ https://lnkd.in/eGte3_C3

💡 The New Collective Quantified Goal (NCQG) on Climate Finance is set to be agreed at this year’s COP29, and it could have profound implications for the level and transformational potential of finance to tackle climate change. Against this background and in light of the UNFCCC climate conference in Bonn, IDOS and the Center for Global Development will bring together experts to discuss the way forward on the core public finance element of the climate goal. At this public event, we will explore ◽ how to improve measurement and accountability; ◽ how to tackle the issue of additionality of climate finance; ◽ how to set the level of ambition in particular with regards to adaptation and loss and damage finance; ◽ and which countries should contribute. 📅 Register here: https://lnkd.in/e83Y34iG | #NewCollectiveQuantifiedGoal #ClimateFinance #LossAndDamage #COP29 #UNFCCC #SB60 #ClimateAction

At COP15 in Copenhagen in 2009, developed countries agreed to provide US$100 billion in climate finance to developing countries each year. Fifteen years on, there is still no common definition of climate finance, leading to inconsistent reporting, a lack of faith in the headline numbers and a loss of trust by developing countries. As the United Nations Framework Convention on Climate Change (UNFCCC) prepares to adopt a New Collective Quantified Goal on Climate Finance (NCQG) at COP29 later this year, what should count towards the target? And who decides? 📢 Webinar and Q&A with leading experts, including Colin McQuistan, Head of Climate and Resilience at Practical Action 📅 Today at 12:30-14:00 BST 🔗Register: https://lnkd.in/e5XMVcgt More on the NCQG here: https://lnkd.in/dYXRqkDV #LCAW2024 #ClimateAction

Happy to have followed Week 1 of Article 6 negotiations at the UNFCCC #BonnClimateConference (#SB60). Delegates, including our Council members, are hard at work to advance international carbon market mechanisms at #COP29. Negotiations are also underway on a New Collective Quantified Goal on Climate Finance. We look forward to strong outcomes on both later this year. The CAD Trust infrastructure links, aggregates and harmonizes data from private and public carbon crediting programs to build trust, help avoid double counting, and enable high integrity carbon markets in service of the Paris Agreement. Learn more at climateactiondata.org

Great insights

The COP29 President-Designate is optimistic about the future of global climate action after the successful conclusion of the 11th Technical Expert Dialogue and the 3rd Meeting Under the Ad Hoc Work Programme. The meetings brought together experts and leaders from around the world to discuss critical issues related to climate change, including mitigation, adaptation, and finance. The progress made sets the stage for a successful COP29, where countries will come together to address the climate crisis. Read full news at https://lnkd.in/dwx-uh33 #COP29 #ClimateAction #Sustainability #RenewableEnergy #EnergyTransition #ClimateChange #GlobalCooperation #NetZero #CarbonNeutrality #EcoFriendly #SaveThePlanet #ClimateCrisis #Mitigation #Adaptation #Finance #UNFCCC #ParisAgreement #ClimateLeadership #SustainableFuture #EcoWarriors #ClimateHope #GreenRecovery

The Bonn Climate Change Conference (SB60) in June 2024 was a key milestone for shaping discussions ahead of #COP29, but significant gaps remain, especially regarding the New Collective Quantified Goal (NCQG) for climate finance. Disagreements over contributors, recipients, and the nature of funds underscore the challenges that lie ahead. In our upcoming webinar, we will explore the current state of international climate finance negotiations, with special attention to Africa’s priorities for COP29. We'll also unpack key insights from the #AMCENX/ #CCDAXII conference and the 11th Technical Expert Dialogue on NCQG. Africa’s voice is critical as the world moves towards more equitable climate finance solutions. Join us to gain insights and prepare for strategic engagement at COP29. Register to join here: https://bit.ly/4dj3Tsp #ClimateFinance #NCQG #AMCEN #COP29 #Sustainability #ClimateAction

The Global Climate Finance Centre (GCFC), serving as the Secretariat for the Global Climate Finance Framework (GCFF), launched at COP28 UAE with 15 countries representing 40% of the world’s GDP, participated in the 2nd Global Climate Finance Roundtable at #NYCW24. This event, co-organized by #IHLEG & #UNFCCC, brought together diverse agendas, including proponents of the #BridgetownInitiative, #4P, and #V20 on the road to #COP29 and #COP30. Discussions centered on tracking and monitoring progress, with the Climate Finance Reform Compass—based on the GCFF 10 principles and developed by Climate Policy Initiative —standing out as a significant contribution.

“Show me the money”! Finance discussions at COP29 Azerbaijan will inevitably focus on what sum will replace the US $100 billion figure. Equally important is to have a clearer picture of what climate finance is actually flowing. Enhanced transparency could be a critical component of reaching agreement in Baku, including on the issue of donor base. This latest Center for Climate and Energy Solutions (C2ES) paper examines some issues and options. ➡️ https://lnkd.in/eQCMnqeg #COP29 #climatefinance

🚨 Important piece by Shanthie Mariet D'Souza in The Diplomat, though a minor misunderstanding that also really is at the very core of current UNFCCC UN negotiations in Bonn: https://lnkd.in/eK-kKk9k 🌍 Achieving #NetZero is about #Mitigation - reducing CO2 emissions globally. However, donor countries are criticized for directing over 80% of Global Climate Finance towards Mitigation rather than #Adaptation (adjusting to climate change) and #LossAndDamage (compensation for damages already done). 🔑 Mitigation and Adaptation / Loss and Damage have very distinct incentive structures and purposes. Differentiating these is essential for effective climate action and its negotiations. For more insights about the relationship between Mitigation and Adaptation, check out Pauw’s 🍊🍏 German Institute of Development and Sustainability (IDOS) article here: https://lnkd.in/e7hWYMps