Finance is a key facilitator of climate action. Developing countries, small island nations, and the world's least developed countries are bearing the brunt of climate change caused by the developed nations.
In a world experiencing frequent extreme weather events, they are compelled to adapt and mitigate their way through the crisis. The economic impacts of climate disasters are considerably more severe for poorer countries, making it crucial to establish a financial target that addresses their needs and promotes climate justice.
As countries prepare for 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC), which will take place in Azerbaijan in November 2024, initial discussions on the central issue of climate finance are on the horizon.
Parties to the UNFCCC have made new submissions for the New Collective Quantified Goal on Climate Finance (NCQG). What is NCQG, and why is it so crucial?
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