ZERO13’s Post

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

🌱🌍 As the dust settles on #COP29 and we look towards #COP30 later this year, EcoAct's Chimdi Obienu reflects on the future implications this might have for the VCM. "While the COP29 outcomes were decidedly mixed, the latest annual UN climate meeting in Azerbaijan produced several potentially transformative developments for the voluntary carbon market. With climate finance needing to increase at least five-fold from current levels to $1.3 trillion annually to limit warming to below 1.5°C1, carbon markets are essential for mobilising private sector investment alongside public funding" Read the full article here 👉🏻 https://hubs.ly/Q0343M0r0

#COP29 starts next week, and the Climate Policy Initiative argue that annual finance flows to tackle #climate change are at least $8 trillion short of where they need to be for the next 30 years. That gap is especially acute in the least developed countries and for #adaptation.   It means that one of the spotlights next week must be on how policymakers can better incentivise private finance to narrow the gap. This short blog from our CEO Rory Sullivan offers some thoughts on how to design policy to explicitly address this challenge and overcome the barriers to investment.   https://lnkd.in/ehG2eVaJ   Nicky Amos, Robert Black, Gemma James, SDG Action. Institutional Investors Group on Climate Change (IIGCC), #GreenerTogether

London’s role as a global hub for sustainable finance shines as #COP29 highlights transition finance needs. As nations set ambitious climate finance goals, all eyes are on private sector funding to close the gap toward #NetZero.

🌍 💰 Today is Finance Day at COP29, and the spotlight is on climate finance. In all the hallways, you'll hear chatter of the need for greater global cooperation to reach our shared climate goals...and an intense focus on working with the private sector to drive meaningful climate and nature wins. A big goal at COP29 is seeing a new global climate finance goal that could reach $1 trillion or more annually, a figure that begins to bridge the immense financial gap required to confront the climate crisis. Unlike traditional finance where success is measured by profit, losses, and stakeholder returns, climate finance lacks a strong accountability framework. We need the same robust metrics that ensure climate financing is accessible, impactful, and affordable for those who need it most to truly advance net-zero efforts and support local communities. That’s why the quality of climate finance—ensuring it’s concessional, accessible, and impactful—matters just as much as the amount of finance. High quality climate finance can deliver measurable, real-world benefits to communities on the front lines of climate change. Read my latest blog to learn more ➡ https://lnkd.in/eudTWjnv #COP29 #ClimateFinance #NCQG #NetZero

Opinion – COP29 To Set Ambitious Climate Finance Target For Emissions Reduction And Adaptation In Developing Countries Many issues related to financing stem from one or a combination of these functions needing to be more optimal. For example, a shortage of money to distribute is a major challenge highlighted at each Conference of Parties (CoPs) as the “quantum challenge.” Developing nations, often constrained by limited capital, seek financial support from developed countries under the principle of common but differentiated responsibilities to address global climate change. The climate finance target for developed nations to provide USD 100 billion annually to developing countries by 2020, set during the 15th edition of this annual event, has yet to be met. […] Read the full story here: https://lnkd.in/dz74g7YV #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #climatefinance #co2emissionsreduction #cop29 #netzero #sustainabledevelopment

Global stakeholders convene in Cartagena, Colombia, to advance discussions on setting a new climate finance goal, crucial for addressing the needs of developing nations and ensuring a sustainable future. Read Details👇 #climatechange #ClimateAction #ClimateEmergency #climatefinace #COP29 #finance #climatejustice https://lnkd.in/esT-HKdg

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

CLIMATE FINANCE On the 11th of November world leaders have gathered in the United Nations Climate Change Conference (COP) in order to discuss about the ways to cut greenhouse gas emissions and to adapt to the impact of climate change. This time, the negotiations have focused on climate finance. In this line, the president of the COP-29 has announced the New Collective Quantified Goal (NCQG), which consists on the supply of climate finance from developed countries to poor countries from 2025 onward. The NCQG means a less ambituous goal, albeit, more realistic. With the purpose of cutting global emissions, rich countries will have to set new financial channels and instruments in motion. Nevertheless, the current geopolitical juncture, as well as the scepticism towards climate change of some presidents, could put in jeopardy the achievement of the mentioned goal. A potential failure to meet the established requirements could entail a loss of confidence in the agreements reached withing COP; therefore, it is crucial that the NCQG end up seeing the light of success. On another note, in order to estimate the financial requirements of the mentioned goal, there are three lines that should be borne in mind. Firstly, the amount of public spending and private resources needed to finance green projects in poor countries. Secondly, the fair price compensation that should be offered to those sectors specialised in polluting activities. Thirdly, the amount of funds needed to help poor countries adapt to the aftereffects of climate change. By the same token, an additional question arises in relation to what the scope of the negotiations should be. Bilateral deals could involve less decision costs and streamline the management of resources; however, this form of negotiation could also trigger opportunistic behaviours due to the bargaining power of rich countries. On the other hand, multilateral deals could more easily result in failure, as more voices would have to be heard. The plans to make the green transition become a reality are already on the table; however, the reluctance of some of the greatest economies worldwide to contribute to climate objectives entails a barrier, as well as the reluctance of the private sector to invest in green projects, which entail high risks and are linked to high levels of uncertainty. Additionally, the empirical evidence has proved that poor countries are the ones shouldering the burden, being necessary to intensify the efforts directed to help these regions. All in all, if international institutions and investors are not willing to face the costs linked to the green transition, all of us will be bound to pay a higher price in the future. The success of the NCQG is crucial, not only to advance the process against climate change, but also to convince the population that their resources are not being used in vain. #NCQG #Climate #Finance