New Collective Quantified Goal on Climate Finance

Background

By decision 1/CP.21, para. 53, Parties decided that, prior to 2025 the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA) shall set a new collective quantified goal (NCQG) from a floor of USD 100 billion per year, taking into account the needs and priorities of developing countries.

The CMA, by decision 14/CMA.1, decided to initiate at its third session, in accordance with Article 9, paragraph 3, of the Paris Agreement, deliberations on setting a new collective quantified goal from a floor of USD 100 billion per year in the context of meaningful mitigation actions and transparency of implementation and taking into account the needs and priorities of developing countries, and further agreed to consider, in its deliberations the aim to strengthen the global response to the threat of climate change in the context of sustainable development and efforts to eradicate poverty, including by making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.

By decision 9/CMA.3, Parties agreed that deliberations on the NCQG be set up around the following elements:

  • Ad hoc work programme 
  • Submissions by Parties and non-Party stakeholders
  • High-level ministerial dialogues
  • Stock-takes and guidance by the CMA

The CMA, by decision 5/CMA.4, noted with appreciation the work of the co-chairs in 2022 and acknowledged the need to significantly strengthen the ad hoc work programme on the NCQG in the light of the urgency of scaling up climate action with a view to achieving meaningful outcomes from the deliberations on all elements and setting the NCQG in 2024, taking into account the needs and priorities of developing countries. It requested the co-chairs of the ad hoc work programme for 2023 to develop a workplan for 2023, including themes for the technical expert dialogues and invited Parties and non-Party stakeholders to submit inputs on each technical expert dialogue to be held, on the basis of guiding questions well in advance of each technical expert dialogue to allow for those inputs to be reflected in the organization of the dialogues. Furthermore, CMA 4 also mandated the co-chairs to summarize deliberations of each dialogue and to provide information on the way forward, including possible options.

At CMA 5, Parties decided to transition the mode of work to enable the development of draft negotiating text for consideration by CMA at its sixth session. In order to ensure continuity of the process, CMA also decided on the continuation of the current co-chairs of the ad hoc work programme in 2024. Accordingly, CMA requested the co-chairs to:

  • Develop a workplan that includes themes for in-depth technical discussions at the technical expert dialogues and the approach to preparing the substantive framework for a draft negotiating text taking into account submissions to be made by Parties;
  • Conduct at least three technical expert dialogues in 2024 to allow for in-depth technical discussions on the elements of the NCQG back-to-back with three meetings under the ad hoc work programme to enable Parties to engage in developing the substantive framework for a draft negotiating text capturing progress made.

 

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Tenth technical expert dialogue and second meeting under the ad hoc work programme on the NCQG

Tenth technical expert dialogue
Date:
3 June 2024
Further information will be made available here

Second meeting under the ad hoc work programme
Dates: 


Venue: World Conference Center, Bonn, Germany
 

Message to Parties and admitted observers from the co-chairs related to the preparation for the tenth technical expert dialogue and second meeting under the ad hoc work programme

Message to Parties and observer states, UN and IGOs and admitted non-government organizations

Written inputs received in the context of the first meeting under the ad hoc work programme

Written inputs received are available here.

Compilation and synthesis of inputs on the ninth technical expert dialogue and first meeting under the ad hoc work programme on the new collective quantified goal on climate finance

This compilation and synthesis report summarizes the submissions received from Parties and non-Party stakeholders. The full report can be accessed here

Co-chairs' input paper for the first meeting under the ad hoc work programme 

The purpose of this input paper is to seek Party views on possible elements of the draft structure for the substantive framework for a draft negotiating text and options for content to be included under each element. The document can be accessed here

2024 New collective quantified goal on climate finance workplan

The workplan outlines the overall plan for conducting the ad hoc work programme in 2024. You can download the PDF version here

Message to Parties from the co-chairs of the ad hoc work programme on the NCQG

  • Call for submissions related to the 2024 workplan. Further information can be viewed here.

  • Reflections on organizing the ad hoc work programme in 2024. Further details can be viewed here

 

Co-chairs of the ad hoc work programme on the NCQG (2024)

His Excellency Dr. Sultan Ahmed Al Jaber, President of COP 28, CMP 18 and CMA 5, has affirmed the appointment of Fiona Gilbert and Zaheer Fakir as co-chairs for 2024 of the ad hoc work programme on the new collective quantified goal on climate finance. Further information about the co-chairs is available here

Parties set up an ad hoc work programme from 2022 to 2024, to be facilitated by two co-chairs, one from a developed country and one from a developing country. The co-chairs will be appointed by the CMA President for a duration of one year in consultation with the respective constituencies. 

Activities under the work programme include the following:

1. Workplan

The CMA requested the co-chairs of the ad hoc work programme to develop a workplan in 2023, including the themes for the technical expert dialogues to be held in that year. It takes into account submissions from Parties and non-Party stakeholders and the guidance contained in decisions 14/CMA.1, 9/CMA.3 and 5/CMA 4.

2. Technical expert dialogues

The CMA decided to conduct four technical expert dialogues per year as part of the ad hoc work programme, with one of these dialogues to be held in conjunction with the subsidiary bodies and one to be held in conjunction with the CMAs, and the two remaining dialogues to be organized in separate regions with a view to facilitating inclusive and balanced geographical participation.

The technical expert dialogues will be organized on the basis of the submissions received from Party and non-Party stakeholders. The dialogues will be open to all interested Parties, academia, civil society actors, including youth, and private sector actors and be webcast.

NCQG events in 2022
Technical expert dialogues (2022) Other NCQG related events
First technical expert dialogue The New Collective Quantified Goal on Climate Finance - an Arab perspective (as part of the MENA Climate Week)
Second technical expert dialogue
Third technical expert dialogue The New Collective Quantified Goal on Climate Finance - a Latin American and Caribbean perspective (as part of the LAC Climate Week)
Fourth technical expert dialogue

 

NCQG events in 2023
Technical expert dialogues (2023) Other NCQG related events
Fifth technical expert dialogue  
Sixth technical expert dialogue Informal consultation with non-Party stakeholders on the New Collective Quantified Goal on Climate Finance
Seventh technical expert dialogue  
Eighth technical expert dialogue  

 

NCQG events in 2024
Technical expert dialogues (2024) Other NCQG related events
Ninth technical expert dialogue  First meeting under the ad hoc work programme

3. Annual reports

The CMA requested the co-chairs of the ad hoc work programme to prepare an annual report on the work conducted under that work programme, including a summary and key findings of the technical expert dialogues for consideration by the CMA. The annual reports will inform deliberations at the high-level ministerial dialogues. 

2022 2023

4. Regular consultations with Party and non-Party stakeholders

The co-chairs will maintain regular consultations with the constituted bodies, in particular the Standing Committee on Finance, as well as United Nations agencies, climate finance experts, academia, private sector and civil society actors with a view to informing the ad hoc work programme.

The CMA invited Parties, constituted bodies under the Convention and the Paris Agreement, the operating entities of the Financial Mechanism, climate finance institutions, observers and observer organizations, and other stakeholders, particularly from the private sector to submit by February and August 2022, respectively, their views on the objectives of the ad hoc work programme as specified in para.15 of decision 9/CMA.3 and on the elements outlined in para. 16 of the same decision. Submissions received from Parties and non-Party stakeholders ​can be viewed here.

Views on the objectives and elements identified in decision 9/CMA.3 on the new collective quantified goal on climate finance. Technical paper by the secretariat can be viewed here.

Parties requested the President of the CMA to convene high-level ministerial dialogues starting in 2022 and ending in 2024, ensuring effective political engagement and open, meaningful and robust discussion. The high-level ministerial dialogues will be informed by the reports of the technical expert dialogues, with a view to providing guidance on the further direction of the ad hoc work programme for the following year. The CMA President will prepare a summary of the deliberations, including recommendations, for consideration by the CMA at that session.

2022 2023
HLMD, COP27, Sharm el-Sheikh (2022) HLMD, COP 28, Dubai

The CMA will take stock of progress made in 2022 and 2023 and provide further guidance on the work programme, taking into consideration the annual reports of the co-chairs, including the key findings contained therein, and the summary reports on the HLMDs, including its guidance. In 2024, the CMA will take stock of progress made and set the NCQG.

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