COP29 Compass Dialogue on Climate Finance

AgendaCOP29 Compass DialogueFraming PresentationEvent Summary

Panel Discussion: Climate Finance

The New Collective Quantified Goal (NCQG) is a new global target for climate finance to be established by the end of 2024 and will be key determinant of success for the upcoming COP29 to be held in Baku in December 2024. The NCQG must take into account the needs and priorities of developing countries and incorporate various aspects such as the quantum, quality, scope, accessibility, funding sources, and transparency of the goal. In determining NCQG, it is important to address not just the quantitative but also the qualitative needs of developing countries. A balanced approach to allocate climate finance for mitigation, adaptation and loss and damage needs to be undertaken, considering the principle of common but differentiated responsibilities and respective capabilities.

With this background, TERI is organizing an Act4Earth Dialogue on climate finance to deliberate and come forward with solutions for strengthening the global climate finance ecosystem.

Questions

Overarching questions for the roundtable discussions include:

[Question 1] What will be an equitable outcome on NCQG?

[Question 2] What is the future of climate finance in the long-term?