Event Details
15 November 2024
Baku
Side Event Room 2, COP 29 Venue
Start 16:45
End 18:15
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.
Agenda
Panel 1: Financing Action vs. NDC Implementation – Where do we stand on country platforms and other complementary approaches such as transition plans? What is needed for them to be successful?
- Izabella Teixeira
Geopolitical Landscape of the Climate Agenda
How can critical movements during COP29, such as NCGC deadlock, unfold in COP30 where NDCs will be revised? What transformations do we need to be successful? What moves need to be made so that country platforms can operate efficiently outside the UNFCCC and during the year between COP29 and
COP30? - Dr. Louise Kessler
Moving from strategic planning to effective implementation
What role does financing planning play? How can it assist countries in resolving the financial equation regarding climate action? - Richard Folland
The importance of country platforms and transition plans in mobilising climate finance - Vicky Sins
The need to accelerate credible robust sectoral and regional transition plans and the role for the private sector
Panel 2: Demand and Supply-Side Approaches to Climate Financing and Country Platforms
- Caroline Grottero
The Role of National Governments
How can countries better identify their financial needs? What part does the government play in the creation of investment and financing plans? How can this process be improved? - Rob Moore
Supply-side Perspective
How could we ensure that public financial institutions, international organizations, and other actors adequately respond to climate financing needs? Role of PDBs: Paris alignment/; Risks and Opportunities / Role of international organizations / climate funds - Thomas Tayler
The Role of Private Finance
What are the implications of establishing the mobilisation of private finance as a clear consideration under the NCQG? Can you expand on the idea that ambitious NDCs need credible sectoral transition plans to align investment and financial flows? - Noelle O´Brien
The Role of MDBs
What part do MDBs play in supporting the channelling of financial flows towards countries´needs? How can this be linked to ADB´s experience with country platforms?