A key accompanying decision to the 2015 Paris Agreement stipulates setting a new collective quantified goal (NCQG) for climate finance prior to 2025. This new goal will be built on lessons learned from the US$100 billion per year by 2020 commitment and must consider the needs and priorities of developing countries. The original goal of US$100 billion was set as a political move to rebuild trust among Parties; it was not scientifically based nor derived from the needs of developing countries. Parties and observers continue to argue about achieving the US$100 billion target and have learned many lessons from climate finance provision and mobilization efforts over the past decade. One can only expect the deliberations on the NCQG to become increasingly contentious.
Delegates at COP26 in Glasgow launched an ad hoc work program, which will run until COP29 in 2024, to initiate the deliberations of the NCQG. The first Technical Expert Dialogue (TED) in March 2022 raised a broad range of issues that need to be addressed but failed to establish a clear structure on how to do that. The first year of this process is critical to getting the work program on the right track, ensuring its inclusiveness and transparency, and identifying all fundamental questions and issues to be debated and resolved along the process.
The Informing the NCQG project seeks to provide science-, evidence-, and equity-based input to inform key conversations through a technical paper series. Funded by the Government of Germany, the project — coordinated by RMI — partners with Climate Analytics, Climate Policy Initiative, Global Center on Adaptation, Climate Finance Group for Latin America and the Caribbean, Open Society Foundation, Oxfam, and South-South-North. Ultimately, we hope to ensure that the NCQG effectively supports building resilience and promotes the economic transformation needed in the Global South to meet the Paris Agreement and Sustainable Development Goals.
This webinar, hosted by the Climate Finance Access Network and featuring a panel of experts, introduced the NCQG project informing the New Collective Quantified Goal on Climate Finance and debriefed outcomes from the recent SB56 conference in Bonn.
This webinar, hosted by the Climate Finance Access Network during New York Climate Week, convened country representatives and climate finance experts to share their insights. Featuring the introduction of a new technical paper, the conversation highlighted how these deliberations can create a dynamic and responsive goal that meets the needs of developing countries.
NEW: Our technical paper, Towards a Collective and Quantified Goal Based on Needs, is out now! Read the paper, our series framing article (also available en Français), and official submission to the UNFCCC below.
Technical Paper: Towards a Collective and Quantified Goal Based on Needs
Framing Article on the NCQG Process: Are We Asking the Right Questions?
Submission to the UNFCC: Views on the New Collective Quantified Goal
This project is made possible with the generous support of the government of Germany.