Atlantic Council's Climate Resilience Center

Finance is on the agenda at #COP29. The main issue? The New Collective Quantified Goal. This year, world leaders must set a new ambitious climate finance goal. For years, the past $100 billion annual commitment has fallen far short of the world’s adaptation and mitigation needs. Now, the ongoing debate over the new goal could help the world step up to a more realistic climate finance target. But what really is the #NCQG? In our latest video, senior director and climate negotiator Jorge Gastelumendi breaks it down for you. Learn why the NCQG is so important—and why it must be part of the largest climate finance conversation. 👇 https://bit.ly/495jgEC

UN Environment Programme estimates that sustainable cooling could protect 3.5 billion people from extreme heat and save $1 trillion in household bills each year by 2050. That's why the #GlobalCoolingPledge is so critical. Since it launched at #COP28, the Atlantic Council's Climate Resilience Center has been covering the pledge and celebrating it as a milestone for global cooling. Now, one year after its launch, it's back on the agenda at #COP29. Read our new article to learn what happened in Baku and watch our on-the-ground video update from Eleni (Lenio) Myrivili and Owen Gow when it launched last year! 👇 https://bit.ly/4eHAOYt

With the #G20 summit in Brazil on the horizon, we're highlighting the policy brief written by our own Jorge Gastelumendi and the Climate Policy Initiative's Malini Chakravarty for the T20 process. While the climate finance gap is large, only 5% of the funds raised is directed towards adaptation and resilience efforts. That's why their policy brief outlines key recommendations for a more sustainable and inclusive financial architecture. What is the way forward? 🤝 Private sector actors must have clear and concrete pathways to close the finance gap. This means the public sector has the responsibility to create an enabling environment, and the private sector has the opportunity to act at speed and scale. 🌱 Institutions like the G20 must take more of a leadership role to mobilize climate adaptation finance and standardize policies and measures. 🏦 Multilateral development banks (MDBs) and international finance institutions (IFIs) must make it easier for vulnerable countries to access funding, keeping their unique systemic and structural challenges in mind. Want to learn more about the report and the ongoing conversations around climate finance? The Climate Resilience Center's Nidhi Upadhyaya and Climate Policy Initiative's Morgan Richmond break it down for you. Right after NYCW, they connected to consider the trends. Discover more at https://bit.ly/4hP0l4M.

One of the top priorities at #COP29? Establishing the New Collective Quantified Goal. Our director Jorge Gastelumendi has been following the ongoing #NCQG negotiations. As a veteran climate negotiator who played a critical role during the adoption of the Paris Agreement, he has clear insights into the ongoing conversations and what that could mean for the end agreement. Currently, the negotiations are slow moving and mainly focused on the quantum—or the new figure for a global climate finance goal. However, an effective end agreement will require more than a new target. To effectively act on a new global finance goal, countries need to understand how they can act on it and monitor progress. As Jorge notes, these questions may not be readily addressed. He provides his insights live from Baku. Listen now 👇 https://bit.ly/3YKvmOz

Did you miss our our latest high-level event? 🤔 https://bit.ly/3YKvmOz You can watch the full session—plus our other conversations at #COP29 in Baku—on our website! With the support and partnership of ADB Gender, we elevated the climate resilience efforts that simultaneously address the chronic and systemic barriers that put women and girls at risk. Our expert speakers drove the conversation on the innovative solutions that prioritize women and vulnerable communities in the face of extreme heat. Check out the full recording to hear from Tim Stern, Eleni (Lenio) Myrivili, Abheet Solomon, Loretta Hieber Girardet, Aditi Maheshwari, Zonibel Woods, and our own Jorge Gastelumendi. Watch now 🔗 https://bit.ly/3YKvmOz

Are you at #COP29 in Baku? Meet us at the COP Resilience Hub for an engaging and critical conversation with ADB Gender. We're elevating innovative strategies for urban heat resilience that advance gender equality. Our experts will consider effective approaches to ensure that climate solutions are gender-responsive. 🗓 Friday, Nov. 15 at 1:15 pm GMT+4 🔗 Or join us virtually https://lnkd.in/g78tjaCj

After almost a decade of debate, the rules for the Paris Agreement’s global carbon market were approved on the first day of #COP29. But can the UN-backed global system address the international concerns and criticisms of carbon emissions trading? 🌎 https://bit.ly/3Zal3DR According to the COP29 president Mukhtar Babayev, the decision is “game-changing” as it enables climate action and channels “resources to the developing world.” However, as the world unpacks the consequences of this moment, some are worried that it could signal a reduced pressure on emissions reduction. The question is now: how can the agreement be effective? Our own Hana Abdelatty, MPP breaks it down for you in her new article 👉 https://bit.ly/3Zal3DR

🌐  On-the-ground update from #COP29 🌐 Climate change is an economic crisis. But the financing for it is still falling dramatically short. With our partners and the High-Level Climate Champions, we launched a new report focused on the way forward for climate finance. The report overviews key actions that can help countries close the adaptation finance gap. Listen to Jorge Gastelumendi as he speaks from the COP Resilience Hub where we launched the report. Learn more ➡️ https://bit.ly/4fnwheQ

🚀 Another exciting launch at #COP29: the Business, Investment and Philanthropy Climate Platform (BIPCP) was announced today! The platform aims to connect industry leaders from business, finance and philanthropy to empower and encourage them to support progress on the #ParisAgreement. Notably, the platform elevates the role of private finance. As COP29’s High-Level Climate Champions Nigar Arpadarai noted, “We need to create an ecosystem for private sector, which will make the climate change agenda not only ambitious but also practical and achievable.” Our own Jorge Gastelumendi sat down with Minister Eamon Ryan, Martien van Nieuwkoop, Pepukaye Bardouille, Aditi Mukherji, and Golam Rabbani to consider effective examples of private finance mobilization. Jorge Gastelumendi focused on our emerging opportunities to tap into the financial sector—ranging from making National Adaptation Plans investible and building the capacity of small and medium enterprises. He also highlighted our ongoing work with the Call for Collaboration, which has already built commitments and momentum around private investments for adaptation and resilience. To learn more about the Call for Collaboration and other impactful ways to mobilize the private sector, check out our new report. 👉 https://bit.ly/4fnwheQ Marcia Toledo Sotillo Nigel Topping, CMG Mahmoud Mohieldin

📣 There's still time to join us tomorrow for this critical conversation with ADB Gender! Tomorrow at the COP Resilience Hub, we'll consider how cities can respond in a gender-responsive way. Hear from leading experts Tim Stern, Eleni (Lenio) Myrivili, Abheet Solomon, Loretta Hieber Girardet, and Aditi Maheshwari. ADB's Zonibel Woods will moderate, and our own Jorge Gastelumendi will offer closing remarks. 🗓 Friday, November 15 from 1:15 to 2:15 pm GMT+4 🔗 Register and join the livestream: https://bit.ly/3O60EdM