Full Title: NDCs, NCQG, and Financing the Transition: Unlocking Flows for a Net-Zero Future
Author(s): Energy Transitions Commission
Publisher(s): Energy Transitions Commission
Publication Date: October 3, 2024
Full Text: Download Resource
Description (excerpt):
“Climate finance” will be a key subject at COP29, with particular attention to the proposed “New Collective Quantified Goal“ (NCQG) for financial flows from high-income to low-income countries. But the term “climate finance“ is often used vaguely and broadly, covering several different challenges and priorities.
In its latest publication “NDCs, NCQG, and Financing the Transition” the ETC clarifies the nature and scale of different types of finance required, and proposes four principles to ensure a useful conclusion of the NCQG debate. It also explains the vital role that updated Nationally Determined Contributions (NDCs) can and must play in unleashing financial flows.
Through frameworks like the NCQG and NDCs, countries can set ambitious goals backed by policies that attract large-scale investments from the private sector and can meet the majority of finance needs for climate mitigation and adaptation.