Organizers

Credit: Loss and Damage Youth Coalition

Credit: YOUNGO

Background

The New Collective Quantified Goal (NCQG) is a global climate finance goal under the UNFCCC, set to replace the USD 100 billion goal established in 2009 and expiring in 2025. At COP26, countries agreed to initiate a three-year process to set a new goal before 2025. This decision led to the establishment of an ad hoc work programme, fostering a collaborative environment with four technical experts dialogues (TEDs) per year and a High-Level Ministerial dialogue. The 10th TEDs have already taken place, covering various topics related to the New goal's scope, structure, and timeframe.

At CMA 5, Parties decided to transition to a mode of work that enables the development of a substantive framework for a draft negotiating text for consideration by CMA 6. The co-chairs of the ad hoc work programme on the new collective quantified goal on climate finance (NCQG) will conduct at least three meetings under the ad hoc work programme in 2024, back-to-back with the technical expert dialogues to enable Parties to engage in developing the substantive framework.

The session on the NCQG aims to clarify discussions on the New collective Quantified Goal (NCQG) set to be agreed at COP29 in Azerbaijan and its effect on LD. Throughout the event participants will gain an understanding of the advocacy message from CSOs, activists, developing country negotiators to include L&D in NCQG and its link to the polluters Pay message.

The Loss and Damage Youth Coalition is a coalition of youths from the global North and South who have come together to demand action on addressing the Loss and Damage caused by climate change. It is made up of 1000+ youths in more than 100 countries.

YOUNGO consists of many youth-led organizations, groups, delegations, and individuals working in climate change-related fields. YOUNGO is organized in different Working Groups that focus on different aspects of the UNFCCC negotiations and beyond, and work to ensure that perspectives of young and future generations are taken into account in the international decision-making processes. Besides that, YOUNGO members observe and report on climate negotiations and the implications of their outcomes

Objectives

The objective of the sessions is to raise awareness on the importance of the ongoing NCQG negotiations in the climate space, offer a deep understanding of current issues and the implication for the sustainability and predictability of Loss and Damage Finance.

Agenda