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We Endorsed the Call for Fair and Equitable Climate Finance at COP 29

We Endorsed the Call for Fair and Equitable Climate Finance at COP 29

In the context of COP29, we endorsed a letter addressed to Mukhtar Babayev, President of COP29, urging the adoption of a New Collective Quantified Goal (NCQG) on climate finance. The NCQG is seen as a pivotal framework to address the growing financial needs of developing countries while ensuring a just transition toward transformative climate policies.

The letter emphasises the urgency of delivering equitable, grant-based climate finance to support adaptation, loss, and damage while avoiding exacerbating the debt burdens of vulnerable nations. It also calls for transparent financial processes, equity in resource distribution, and alignment with human rights and gender equality principles.

This robust advocacy underscores the need for developed countries to meet their financial commitments under international climate and human rights treaties, ensuring that the NCQG reflects principles such as common but differentiated responsibilities.

GIESCR joins other voices in urging COP29 negotiators to prioritise vulnerable communities and ensure the NCQG becomes a tool for meaningful climate action and resilience.

You can read the letter here.

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