The outcome of the 27th session of the Conference of the Parties of the UNFCCC (COP 27) included a recognition of the need to better connect the climate regime with the broader context of global economic governance.

The final text proposes that meeting climate goals “will require a transformation of the financial system and its structures and processes, engaging governments, central banks, commercial banks, institutional investors and other financial actors” (Sharm El-Sheikh Implementation Plan), and makes specific references to managing debt distress, reforming multilateral development banks, and scaling grant and concessional financing.

With upcoming negotiations on a New Collective Quantified Goal (NCQG) and more ambitious proposals for governance reform gathering momentum, key discussions at the multilateral level are likely to involve the interplay of development finance, debt, macroeconomics, and climate change.

It is critical that climate negotiators, as key stakeholders in driving substantive outcomes within the UNFCCC framework, are fully conversant with the range of financing challenges that have moved to the forefront of multilateral discussions, including in the climate arena.

The project aims to strengthen the knowledge of links between climate, finance and economic development challenges amongst developing country representatives within the G77 and China, focused on UNFCCC negotiations.

Building on the success of the first year, the project was then extended with additional financing from one donor (CECG) to include support for the Brazilian G20 Presidency’s coordination efforts to make climate change finance prominent in the G20 agenda through the Taskforce on a global mobilization against climate change (TF-CLIMA).

The project supports further engagement on the G20 workstreams and taskforces.

Link with the SDGs:

It is mainly oriented towards progress for SDGs number:

• 13: Take urgent actions to combat climate change and its impact.
• 17: Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development.
• 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Activities:

Activities of the project include the organization of at least one workshop per year addressed at developing country climate finance negotiators, to discuss relevant topics towards COP; the publication of reports, policy briefs, blogs that provide an analysis of the key debates of the COP agenda.

Monitoring:

UNCTAD regularly submitted interim and final reports to the donors.

• Documents
• Events & meetings