The 29th Conference of Parties to the United Nations Framework Convention on Climate Change (UNFCCC) was expected to be a defining moment for climate action, but its outcomes tell a mixed story. In this article, we unpack the promises, pitfalls, and next steps, charting a path forward for global climate action.
The 29th Conference of Parties of the United Nations Framework Convention on Climate Change (COP29) concludes today, and as negotiations progressed to agree on a New Collective Quantified Goal (NCQG) on Climate Finance in the past two weeks, experts from civil society from the Philippines, Ghana, and South Africa emphasized the need for accountability from both donor and recipient countries to effectively address challenges in mobilizing climate finance.
Images of devastation so commonplace now will soon cease to be photos to a few, but a reality for all. This is unless policymakers at COP29 make the brave step of being decisive about climate finance, and pledge to invest the world’s fiscal resources in saving it.
Branches of The Climate Reality Project in Africa, Canada, India and South Asia, Indonesia, Japan, the Philippines, and the United States of America (USA) gathered in Singapore from June 24 to 27 for a collaborative four-day workshop on climate finance tracking and campaigning.
In #EleventhHour this week, Climate Reality Leader Keith Ancheta discussed green finance and investments. He also delved into developed countries’ responsibility to invest in a global effort to mitigate climate change.
Finance holds the key to unlocking progress to ambitious climate action. By reforming how finance flows globally, we can invest more in clean energy, help developing countries adapt, and support nations hit hard by climate disasters. The World Bank and the International Monetary Fund (IMF) are key players in this global financial reform.
