Shaping the Future of Climate Finance: The NCQG’s Role in Supporting Developing Countries and their Paths toward COP 30

The New Collective Quantified Goal on Climate Finance will be the main negotiating item at the Baku Climate Conference. The CMA6 will adopt the legal framework for climate financing, which will provide the necessary funding to achieve the Paris Agreement’s objectives.

Developing countries’ climate actions on mitigation and adaptation depend directly on the financial resources provided under the NCQG, as well as the agreed framework. In an evolving climate crisis scenario, whose impacts are confirmed and anticipated by scientific knowledge, the goal must reflect developing countries’ evolving needs and priorities and meet the aspirations of the most vulnerable populations. ` It is also key to consider the repercussions such structures have on countries’ climate finance landscapes.

Specifically in Brazil, on the road to COP 30, where do we stand and what will different outcomes mean regarding the climate finance ecosystem and its respective financing tools? This panel will adopt the format of open discussions, with the participation of members of delegations from the global south and representatives of civil society. Such circumstances denote the panel’s importance, giving voice to those who have contributed little to the climate crisis but suffer the most.