The New Collective Quantified Goal (NCQG) on climate finance is the central issue at COP 29. This position paper offers an overview of the NCQG proceedings to date and maps the positions of various country groups at the UNFCCC. It also outlines the essential principles for achieving a successful outcome at this 'finance COP'. An ambitious outcome on the NCQG is crucial to help developing countries meet their climate and development goals in this decade. Climate ambition cannot be demanded from the Global South without the financing needed to enable it. In an atmosphere where trust is eroded in the multilateral process, the NCQG is one of the last opportunities for the Global North to course-correct, show courage, and pay their fair share.

Contact:

Sehr Raheja
Programme Officer
Climate Change, CSE
sehr.raheja@cseindia.org