The Climate Finance Mirage

In 2024, COP 29 had cemented the outcome of the New Collective Quantified Goal (NCQG) on climate finance, with countries agreeing to mobilise US $300 billion per year (within a larger goal of US $1.3 trillion) by 2035 to fulfil the climate finance needs of developing countries. Alongside, the Baku to Belem Roadmap was envisioned to find ways to scale up climate finance.

The decision left developing country governments and civil society disappointed, and worsened trust in multilateral climate processes. Delivery of the NCQG goal in line with requirements of additionality, concessionality/limited debtbased financing, predictability and transparency has not been guaranteed.

Moreover, since then, the world has fractured due to polarised geopolitics and election of anti-climate political leaders. Climate finance is under strain in a landscape of aid cuts and a retreat of wealthy Western countries from international cooperation.

How do we now fund decarbonisation in developing countries in this fragmented geopolitical landscape? What barriers remain, and what are the windows of opportunity, if any?

Join our experts at a CSE webinar to discuss this, and pave the way for informing the Brazilian COP 30 Presidency as it leads the charge on developing this Roadmap. 

IF YOU HAVE QUESTIONS, PLEASE CONTACT

Sukanya Nair
Email: sukanya.nair@cseindia.org
Mobile No.: 8816818864