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🌍 As 50,000+ government officials, policymakers, investors, and non-state actors head to Baku for #COP29, all eyes are on a potential new climate finance goal that could define this event as the "#FinanceCOP." The New Collective Quantified Goal (#NCQG) on climate finance aims to accelerate climate action in developing countries, replacing the previous USD100 billion annual target, which was delayed in delivery by developed nations. Adding momentum, the COP29 Presidency has introduced the Climate Finance Action Fund (#CFAF), seeking voluntary contributions from #fossilfuel producers to support #climate projects in developing nations. Acknowledging the private sector's role within the NCQG could signal investors towards #climateambition post-2025 and strengthen commitments to bridging finance gaps. With studies indicating a need for USD2.4 trillion annually in #climatefinance for developing countries by 2030, and USD1 trillion in #cleanenergy investments alone, COP29’s policy outcomes could be pivotal for climate finance in this decisive decade. #COP29 #ClimateFinance #SustainableInvestment

As COP29 approaches, this article points out a significant agenda item is establishing a new collective quantified goal for climate finance to better support vulnerable nations. Access to effective, scalable climate finance remains a challenge for many, especially in developing regions. ZERO13 is dedicated to facilitating sustainable financial solutions that align with these goals🌱. 🚀Our team, led by Hirander Misra (Chairman & CEO), alongside Emmanuel Devedeux (Chief Business Officer) and Lincoln Teo (Board Advisor), is actively engaging with global stakeholders at COP29 to explore innovative pathways to improve access to climate finance. At ZERO13, we believe in actionable support that bridges finance and climate resilience. Read the full article to learn more on this: https://lnkd.in/dFXD9kUt #ZERO13 #ClimateFinance #Sustainability #COP29 #ParisAgreement #DigitalFinance #GreenEconomy #CarbonMarkets #NetZero #ResilientFinance #ClimateLeadership #SustainableDevelopment #ClimateResilience Hirander Misra

"Reflecting on the pivotal outcomes of not only its Finance Day, but the COP29 as a whole, it remains clear that our sector has a crucial role to play in driving global climate action."   Read our latest blog exploring the outcomes of this year's Finance Day at COP29 in Baku, Azerbaijan, and how these are essential to shaping a sustainable, inclusive global financial response to the climate crisis. Click the link below to read more.    Read here: https://bit.ly/416sfDl   #CharteredBanker #COP29 #FinanceDay

🌍 As COP29 negotiations pick up in Azerbaijan, at Environmental Defense Fund we have identified 6 crucial issues that must be addressed to get climate finance quality right in the New Collective Quantified Goal (NCQG): 1️⃣ Unlock Economic Opportunities, Don't Lock in Debt 2️⃣ Agree on What We're Talking About: Define Climate Finance 3️⃣ Cut the Red Tape 4️⃣ Remove the Roadblocks 5️⃣ Make Finance Predictable 6️⃣ Public-Private Finance: Getting the Balance Right Simply setting higher numerical targets won't solve the climate finance challenge. We need a comprehensive approach that transforms how we support developing countries in their fight against climate change. Read more about how we can build a more equitable, efficient, and impactful climate finance system #ClimateAction #ClimateFinance #COP29 #Sustainability #ClimateChange

COP29 is just weeks away, and the big issue on the table is climate finance: how do we get more money to those most in need, to ensure developing countries can step up their ambition in the next round of NDCs, and keep us on track to meet the Paris Agreement goals? However, it's not just about more money - it's also about making sure that money is driving real impact. I'm excited to have co-authored a new report at Environmental Defense Fund, which makes the case that the quality of climate finance matters just as much as the quantity. Quality climate finance is characterized by its effectiveness at driving positive climate outcomes and catalyzing long term change - but current international climate finance flows often fall short, as finance can be inaccessible, ineffective, or overly burdensome for developing countries. Our report underscores the need to maximize the impact of climate finance, by addressing systemic and structural challenges in the international finance system. We focus on three key aspects of quality finance – concessionality, access, and impact – that can support effective climate action, and offer recommended language to integrate quality into the New Collective Quantified Goal (NCQG) on climate finance, alongside recommendations to multilateral institutions to strengthen quality. Grateful to all my co-authors and colleagues who helped bring this report to life! Juan Pablo Hoffmaister Leslie Labruto Tom Clynes Sommer Yesenofski Check out our report here: https://lnkd.in/eciTjUFj #ClimateFinance #NCQG #COP29 #ClimateAction #QualityFinance

We, in the climate community, talk a big game about wanting the quantity of climate finance to ramp up, but what about the quality of that finance? Is the capital available to lower-income countries? Is it actually reducing emissions and supporting end-users to build climate resilience? As capital providers, it's time we start making sure that climate finance $ is concessional, accessible, and impactful. My friend and colleague, Zach Cohen, says it best below. And check out our new report on the topic: https://lnkd.in/eciTjUFj. Drop a comment, too, if you'll be at COP29 this year and want to dig deeper on climate finance.

Insightful read from Carbon Brief on how different interpretations of #climatefinance lead to very different figures. The newly agreed #NCQG at #cop29 - $1.3 trillion #bakufinancegoal with a core finance goal of $300 billion - raises important questions: how to close the quantity gap, improve quality, and ensure funds are delivered timely and effectively? #climatemitigation #climateadaptation

At #COP29, the spotlight is on climate finance. Yet, agreeing to an ambitious target amount is only part of the solution. Bad climate finance like 👇🏽 fuels climate injustice: - Loans that add to the debt burden of the most vulnerable countries - Consists of funds taken away from the already shrinking aid for other needs - Comes with poor human rights safeguards - Excludes already marginalized groups on the frontlines - Gender-blind and worsens discrimination - Exploits nature and biodiversity

BLOG | #ClimateFinance The realm of international climate finance, particularly as it evolves during #COP29, remains riddled with systemic challenges, stuck making poor progress financing climate transitions since #COP21. Despite ambitious goals set under the #ParisAgreement and beyond, the mechanisms to mobilize and allocate funds equitably and effectively are fraught with mismanagement, inconsistencies, and a lack of transparency. This issue is critical as developing nations, often bearing the brunt of climate impacts, rely on financial support to adapt, mitigate risks, and transition to low-carbon economies. This #blog article explores reasons underpinning the inefficiencies of international climate finance, dividing the discussion into key thematic sections: systemic shortcomings, #accountability challenges, and potential solutions for reform 👇 #ClimateChange #JustTransition #StakeholderEngagement

Closing the Climate Finance Gap: Co-authored by Sunil Dayal and me. COP29 Azerbaijan will be pivotal in advancing climate finance to help countries meet their NDCs and drive a just, sustainable transition. However, the $4 trillion needed annually for net-zero by 2050 far exceeds the $850 billion currently available. In our article, we address key challenges—like high capital costs and regulatory hurdles—and propose solutions, including concessional financing and blended finance models. Read more on how global cooperation can unlock climate finance and accelerate progress. Co-authored with Sunil Dayal. Disclaimer: The views expressed are personal and do not represent the organizations we are affiliated with. https://lnkd.in/dwJ-EWv5 #ClimateFinance #COP29 #EnergyTransition #JustTransition #SustainableDevelopment