Search for Common Ground’s Post

With the COP 29 climate change conference in motion in Azerbaijan and the issue of climate finance (what the Global North owes the Global South to mitigate and adapt to climate change) at the top of the agenda, it's a good time to read about Canada's part in all this, with a summary of a recent summit on global climate equity hosted by The Climate Emergency Unit and others.

#NewBlog As COP28 deferred most finance issues to COP29, the agreement on a New Collective Quantified Goal — a new global climate finance goal — will serve as a guide for future climate action. Our Research Analyst, Simran Sukhija writes in a new blog. As the Bonn Conference commences, learn more about the key issues related to climate finance👇 https://bit.ly/4aNHCls #climate #climatefinance #climateaction

Climate finance is like the missing puzzle piece in our efforts to tackle climate change. Without it, our picture of progress remains incomplete. In my recent blog, I delved into the intricacies of climate finance and its importance, particularly for developing countries. With COP28 deferring most finance issues to COP29, the agreement on a New Collective Quantified Goal, replacing the USD 100 billion commitment, will serve as the guiding star for future climate action. The recently released OECD report, claiming that 115.9 billion is mobilised by developed countries in 2022, is poised to ignite discussions and intensify negotiations. For further insights, read the full blog ⬇️ #Climatefinance #COP29 #climate_negotiation

Recent studies indicate that the world will need $10 trillion annually between 2030 and 2050 to avoid the worst impacts of climate change. That’s a lot — but the world has the money. As the Intergovernmental Panel on Climate Change (IPCC) explains, ”there is sufficient global capital to close the global investment gaps … but there are barriers to redirecting capital to climate action.” The challenge, then, is not necessarily raising additional finance for climate change mitigation and adaptation, but how to align all the world’s capital towards climate action. #parisagreement #ipcc #climatefinance #vcm #carbonfinance Edward Rumsey Gerry Elias https://lnkd.in/eWgcu-ec

From 2021 to 2022, $1.3 trillion worth of investments went toward climate-related projects. To hit the Paris Agreement’s 1.5°C limit of warming, we need to increase that level of investment by a factor of five. To hit this ambitious climate finance goal, speed, scale and pragmatism in our approach are key. Read how we can boost climate finance in 2024: https://lnkd.in/gMysrcnN

Tomorrow #COP29Baku focuses on the link between climate and peace. Through the discussions I had at COP28 last year, I realised a major challenge to speed up climate finance in fragile and conflict affected settings is how to ensure it really gets to the most vulnerable people on the ground, and how to get to scale. And discussing this with colleagues in Search for Common Ground, we realised several of the barriers faced are very similar for the peacebuilding world, yet can be overcome.  ▶️ Check out some of our learnings   https://lnkd.in/ecskcd8Z Now is the time for policymakers at COP to adapt the international financial architecture for climate, so funding does reach conflict-affected communities and we get that massive scale up that is urgently needed!

As #COP29Baku gets underway, my colleague Inge Brees discusses learnings from #SHEWINS - how can a funding model for local women's groups be applied to climate financing? What can the climate sector learn from peacebuilding sector in terms of supporting small-scale local action?

Which countries should pay for international climate finance? This climate calculator creates scenarios on how climate funding could be shared globally. Perfect for COP29 talks on new finance goals, Loss & Damage Fund, and Green Climate Fund. Try it! #thereisenoughmoney #COP29 #climatefinance https://lnkd.in/d3K-ekhQ

Finance is a key element to translate pledges into actions!

Very encouraging development. We need speedy application of new #greenfinance models to make meaningful advances in addressing #climatechange through pilot projects in #greeninnovation and #sustainableurbanization