Background

At COP 21 in Paris, 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. 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 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 UNFCCC secretariat, in cooperation with the World Green Economy Organization and the Arab Group of Negotiators, will convene the first consultation between the co-chairs of the ad hoc work programme on the NCQG and climate finance experts from Arab States. This event will provide an opportunity for the co-chairs to consult with experts from and operating in Arab States, including representatives from governments, multilateral and bilateral financial institutions, international and regional organizations, academia, private sector and civil society, on their views, expectations and priorities related to the process of setting the NCQG on climate finance. This event will also present an opportunity for the co-chairs of the ad hoc work programme to provide an update on the outcomes of the first technical expert dialogue taking place on 24-25 March 2022 in Cape Town, South Africa.

Programme
Watch the event here