15 November | Baku

Organised by: Carbon Tracker Initiative, the Brazilian Center for International Relations (CEBRI), the Institute for Climate Economics (I4CE), the Institute for Climate and Society (ICS), and the World Benchmarking Alliance (WBA)

Background and Rationale

Achieving the goals set by the Paris Agreement, particularly limiting global warming to 1.5°C, requires significant scaling up of climate finance. Many countries, particularly in the Global South, face barriers in aligning their Nationally Determined Contributions (NDCs) with climate finance mechanisms. This side event aims to explore both the volume and impact of climate finance and how it can be delivered to enable meaningful progress toward 1.5°C-aligned NDCs.

This discussion is critical to address the current gap between the financing available and what is needed to support low-carbon development pathways. This event will explore how innovative models like country platforms and complementary approaches such as transition plans can bridge this gap. By bringing together finance experts, policymakers, and thought leaders, this event will provide actionable insights into how countries can scale climate finance for better alignment with their NDCs and maximize impact.

Objective

The objective of this side event is to:

• Discuss the current status of climate finance, considering NDC implementation progress.
• Explore innovative mechanisms, including country platforms, to enhance the supply and demand for climate finance.
• Identify gaps and opportunities in financing to support 1.5°C-aligned development.
• Showcase the importance of transition plans in building a bridge with sectoral/local pathways and country NDCs and to scale transition finance in a credible way.