COP29 Position Paper: Finance for Climate Justice in Fragile and Conflict-Affected Settings
Publisher: CORDAID
Date: 2024
Topics: Climate Change, Gender, Governance, Programming
The COP29 in Baku, Azerbaijan, is proclaimed “the finance COP”. It will focus on aligning climate financing to the global goals set in the Paris Agreement. As all parties submit new and updated national climate plans, they should deliver and reflect commitments agreed upon in the Paris Agreement.
The Conference of the Parties 29 (COP29), which will take place November 11 to 22, 2024, in Baku (Azerbaijan) is proclaimed “the finance COP”. It will focus on aligning climate financing to the global goals set in the Paris Agreement (2015) (1). As all parties submit towards 2025 new and updated national climate plans, they should deliver and reflect commitments agreed upon in the Paris Agreement.
The UNFCCC (United Nations Framework Convention on Climate Change) discussions this year will focus on agreeing on a new global climate finance goal with the adoption of a New Collective Quantified Goal on climate finance (NCQG). The ambition is to replace the commitment to the global north with a collective goal of mobilising from a floor of USD 100 billion per year, prior to 2025, for climate action in the global south. We see this as an opportunity to improve the quality and the quantity of climate finance flowing to fragile and conflict-affected settings, and address the current structural barriers in reaching the most climate-vulnerable communities.