As the 2024 High-Level Ministerial Dialogue on the New Collective Quantified Goal on Climate Finance (NCQG) begins in Azerbaijan today, a coalition of humanitarian and development agencies comprising the Australian Council for International Development (ACFID), ActionAid Australia, Caritas Australia, and Plan International Australia are urging the Minister for Climate Change and Energy Chris Bowen to ensure that an ambitious and fit-for-purpose climate financing goal is achieved at COP29 this year.
In September, the COP29 President appointed Minister Bowen as a Ministerial Pair of the NCQG, alongside Minister Yasmine Fouad from Egypt. In this role, Minister Bowen will be responsible for facilitating political engagement on the NCQG across UNFCCC parties.
“We welcome the appointment of Minister Bowen to this critical role.” said Dr Alex Edney-Browne, ACFID’s Policy & Government Relations Lead.
“Minister Bowen now has huge responsibility on his shoulders to ensure that negotiations on the new global climate finance goal are successful and that the divide between developed and developing countries is bridged,” said Dr Edney-Browne.
“The sector will be watching closely to see that Minister Bowen delivers on this responsibility, particularly in light of the Australia-Pacific COP31 bid,” said Dr Edney-Browne.
“We’re just over a month away from COP29, and negotiations for an ambitious climate finance goal are stalling. We need urgent leadership from Minister Bowen to break this deadlock and get the global community on track to agree on an ambitious goal – or we may end up with nothing.” said Michelle Higelin, Executive Director of ActionAid Australia
“If global leaders fail to agree on a climate finance goal, it will be a devastating blow for Pacific women and their communities who are experiencing the worst impacts of the climate crisis. Australia says it stands with our Pacific neighbours, so now is the time for Minister Bowen to step up and follow through on this promise.
“This appointment demonstrates the importance of Minister Bowen and Australia to the success of these negotiations, and in ensuring an ambitious climate finance target is set. This target must match the scale of the damage wrought by climate change, and the sizeable need this has created in vulnerable communities and countries across the world. We offer the support of global civil society networks to help in delivering on Australia’s ambition to be a great global neighbour.” said Kirsten Sayers, CEO of Caritas Australia.
“Children and youth are on the frontlines of the climate crisis, with girls bearing the brunt of it. Yet less than 4% of projects funded by climate finance have addressed the unique needs and involvement of girls. This is leaving girls and all youth – the largest generation in history – locked out and left behind. The new NQCG must prioritise the human rights of those most affected by the climate crisis and be grounded in the principles of gender equality and intergenerational equity.” said Susanne Legena, CEO of Plan International Australia.
For more information or to arrange an interview, please contact Will Devine at 0401 721 064 or at [email protected]
Background
The New Collective Quantified Goal (NCQG) is a key element of the Paris Agreement, which is designed to set a new financial target to support developing countries in their climate actions post-2025.
The NCQG seeks to fill persistent gaps in climate finance, building on the previous $100 billion USD target set by the United Nations Framework Convention on Climate Change in 2009. The NCQG is mandated to start from a floor of $100 billion USD.
In 2022-23, Australia’s climate finance contributions were around 15 percent of our fair share of the global annual goal of $100 billion USD.
Australian civil society continues to urge the Government to take proactive steps to reach its fair share of the global annual climate finance goal – currently $4.4 billion AUD per year in funding that is new and additional to existing Official Development Assistance (ODA).
The Intergovernmental Panel on Climate Change (IPCC) has warned that even if effective mechanisms to limit global warming to 1.5°C were put in place, losses and damages stemming from climate change are already happening and projected to worsen. That means developed economies must step up on the provision of loss and damage finance.
