Background: By decision 1/CP.21, para. 53, Parties decided that, in accordance with Article. 9, paragraph 3, of the Paris Agreement, the CMA will set a new collective quantified goal on climate finance (NCQG) from a floor of USD 100 billion per year, taking into account the needs and priorities of developing countries, prior to 2025. By decision 14/CMA.1, Parties decided to initiate at CMA 3, in accordance with Article 9, para. 3 of the Paris Agreement, deliberations on setting the NCQG 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 agreed to consider in those 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.
At CMA 3, Parties decided that the NCQG aims at contributing to accelerating the achievement of Article 2 of the Paris Agreement of holding the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5 °C above pre-industrial levels, recognizing that this would significantly reduce the risks and impacts of climate change; increasing the ability to adapt to the adverse impacts of climate change and foster climate resilience and low greenhouse gas emission development in a manner that does not threaten food production; and making finance flows consistent with a pathway towards low greenhouse gas emission and climate-resilient development (dec. 9/CMA.3, para. 15).
In March 2023, the co-chairs of the ad hoc work programme on the NCQG developed a workplan that outlined the preliminary themes for discussions at each TED in 2023, in order to develop options across all elements of the goal ahead of CMA 5 for consideration by Parties, including, inter alia, quantity, quality, scope and access features, as well as sources of funding, of the goal and transparency arrangements to track progress towards achievement of the goal, without prejudice to other elements that will also be considered as the deliberations evolve, including matters relating to time frame. Accordingly, the TED 6 will focus on the themes “Quantum” and “Mobilization and provision of financial sources”.
Following the previous decisions taken by the CMA on the aim of the NCQG and building on TED 1, TED 2, TED 3, TED 4, and TED 5, particularly on the needs and priorities of developing countries, as well as sources, instruments and the role of public and private sector actors in relation to the NCQG, as well as submissions by and consultations with Parties, TED 6 will address themes related to quantum and mobilization and provision of financial sources. Particularly, it aims to identify and discuss the elements required to make informed decisions on the quantum of the goal as well as sources of funding when setting the goal in 2024.
Objective: The objective of TED 6 is therefore to discuss and identify:
- Options for ways to determine the quantum of the NCQG, in the context of its aim of contributing to accelerating the achievement of Article 2 of the Paris Agreement;
- Options on the mobilization and provision of financial sources.
Format and participation: TED 6 is mandated to be held in conjunction with the fifty-eighth sessions of the subsidiary bodies. It is open to nominated Party and non-Party stakeholders registered to attend the fifty-eighth sessions of the subsidiary bodies for on-site participation. To ensure inclusive and broader participation, the dialogue will be held in a hybrid format, enabling virtual participation. As mandated, the dialogue will have a webcast.
Similar to TED 5, TED 6 will be organized to facilitate technical discussions on the NCQG, comprising primarily of focused working groups where participants are tasked with identifying and developing options, including their rationale and associated challenges and opportunities, for specific elements of the NCQG. Scene-setting expert presentations will provide an overview of the discussion topics prior to working group sessions to help inform the tasks of identifying options. Following the working group sessions, sufficient time will be dedicated to report back on options identified, and for open discussion among all participants to exchange views.
The provisional programme presents the themes and topics for discussion at TED 6. It is informed by the views expressed by Parties and non-Party stakeholders in their submissions as well as the views expressed during informal consultations held with interested groups of Parties in May 2023.
Provisional Programme
Webcast Day 1
Webcast Day 2
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Day 1: Monday, 12 June 2023
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Session title and description
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Speakers and Facilitators
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08:00 – 09:00
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Registration
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09:00 – 09:45
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Opening and introductory remarks (45 min)
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Welcoming remarks
- H.E. Simon Stiell,bio UNFCCC Executive Secretary
- Ambassador Mohamed Nasr,bio COP27 Presidency lead negotiator
Introduction by the co-chairs
- Overview of the organization of the sixth technical expert dialogue
Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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09:45 – 10:30
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Overview of finance and investment needs to achieve the goals of the Paris Agreement (45 min)
The objective of this session is to gain a better understanding of the estimated costs needed to achieve Article 2 of the Paris Agreement based on available data and information. The session will also identify current knowledge and data gaps in relation to elements considered under the discussions on the NCQG in determining the quantum and further work required to fill these.
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Scene-setting presentation
- Landscape of assessments on the quantum of finance needed to address climate action
Molly Caldwellbio and Natalia Alayza,bio World Resources Institute, Presentation
- Global Energy Investment Needs
Cecilia Tam,bio International Energy Agency, Presentation
Questions and answers (20 min)
Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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10:30 –10:40
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Introduction to working groups
The co-chairs will briefly outline the approach and modalities for the working group sessions and divide in-person participants into five working groups and the virtual participants separately.
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Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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10:40 – 11:10
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Coffee break
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11:10 – 12:30
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Working groups: Options on ways to determine the quantum of the NCQG (80 min)
Participants are invited to discuss in working groups:
- What are options for ways to determine the quantum of the NCQG for example these could be:
- Increasing provisions of climate finance from a baseline of existing provisions by a factor x (doubling/tripling/etc.)
- Setting a quantum through information on the needs and a carve out for the NCQG within those needs;
- Setting a quantum based on outcomes to be achieved in the context of Article 2 of the Paris Agreement;
- Setting a quantum based on a defined mobilization target (e.g. similar to the GEF mobilization target)
- Setting a quantum dependent on the scope and structure of the goal;
- Setting up a quantum based on breadth of contributors including private sector, philanthropy and others;
- Others?
- What is the rationale for the identified options and their associated advantages and disadvantages?
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12:30 –13:30
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Lunch
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13:30 – 14:40
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Working group discussions continue
3. What are (additional) knowledge and information gaps on costs associated with elements considered in the discussions on the NCQG (e.g. by timeframe, thematic area, sector, region, source, instrument) and what can be done to address these to take informed decisions when setting the quantum of the NCQG, recognizing different national circumstances and sustainable development priorities and that needs and priorities are dynamically changing?
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14:40 –15:00
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Coffee break
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15:00 –16:30
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Ice breaking activity (10 min)
Report back of working groups and open discussions (80 min)
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Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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16:30 – 16:45
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Wrap-up of the day and introduction to Day 2 (10–15 min)
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Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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Day 2: Tuesday, 13 June 2023
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14:00 –14:05
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Introduction to day 2
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Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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14:05 –15:35
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Working groups: Options on ways of framing the mobilization and provision of financial sources in the NCQG (90 min)
Participants are invited to discuss in working groups:
- What are ways/options to reflect potential sources of finance within the NCQG in line with Art. 9 of the Paris Agreement, e.g.:
- Through referring to the type of source (international and / or domestic, public and / or private, concessional and / or non-concessional finance, innovative sources);
- Through differentiating between mobilization, provision and / or alignment (private sources without mobilization through public intervention) in quantitative or qualitative manner;
- Through referring to contributors (e.g. Party contributions, with developed countries taking the lead, sub-regional governments, private sector, philanthropy and others) in both qualitative and quantitative manner;
- Through identifying quantitative and qualitative elements and resources which lead to a reduction of those sources which are GHG intensive or non-resilient development?
- What are ways to reflect the relationship between the NCQG with Art. 2, particularly its paragraph 1(c), as it relates to finance, in the outcome setting the NCQG, e.g.:
- As part of the context of the NCQG (chapeau);
- Within/as part of the NCQG;
- As an outcome/aim of the NCQG (e.g. reiterating the Glasgow decision);
- Others?
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15:35 –15:45
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Coffee break
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15:45 –16:45
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Report back of working groups and open discussions (60 min)
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Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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16:45 –17:45
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Stocktake session: Identifying further technical issues and elements for political consideration (60 min)
Participants are invited to identify key issues from the discussions held over the course of the one and a half days that require further technical input in future technical expert dialogues, and issues which require further political guidance at the 2023 high-level ministerial dialogue on the NCQG.
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Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
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17:45 –18:00
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Wrap up and way forward and Closing remarks
(15 min)
The co-chairs will reflect on their key takeaway messages from the discussions held. They will provide an outlook to the organization of the upcoming technical expert dialogues based on the 2023 workplan and the discussions held at the sixth technical expert dialogue. The session will close with remarks by the incoming COP-28 Presidency.
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Wrap up and way forward
Moderators: Fiona Gilbert and Zaheer Fakir, co-chairs of the ad hoc work programme on the NCQG
Closing remarks
Omar AlBraiki, incoming COP 28 Presidency
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