The Independent High-Level Expert Group on Climate Finance (IHLEG) launched by the COP 26 and COP 27 Presidencies provides an independent perspective on the climate finance agenda. The third report comes at a crucial time for the climate finance agenda with a commitment to agree on a New Collective Quantified Goal at COP29 and support ambitious NDCs submitted next year.

The third report argues that the world faces an unprecedented investment imperative and opportunity. The transition to clean, low-carbon energy, urgently building resilience to the impacts of climate change, and protecting nature and biodiversity, requires a rapid step up of investment in all countries.
This investment push will give a major boost to growth and development, and will lead to large avoided costs and very substantial savings. But this new growth story can only be realized through a major transformation of the climate finance system based on concerted efforts to unlock investment opportunities and ramp up all pools of finance.

IHLEG will host the launch of third report at COP29 on 14 November. Following opening remarks by Executive Secretary Simon Stiell, and a presentation of key findings by the co-chairs of the IHLEG, there will a high-level panel drawn from the key drivers of the climate finance system.