SB60 | BONN CLIMATE CHANGE CONFERENCE 2024 New Collective Quantified Goal (NCQG) on Climate Finance

The New Collective Quantified Goal (NCQG) is designed to scale up climate finance commitments, building on the previous unfulfilled $100 billion annual target for developing countries. Following a High-Level Ministerial Roundtable at COP28, the process is moving toward a draft negotiating text. The SB60 sessions in June 2024 are focused on developing a draft framework covering the structure, timescale, sources of finance, and transparency mechanisms of the NCQG. This framework will be refined in subsequent Technical Expert Dialogues in August or September 2024, with the final agreement on the goal expected at COP29.

• The NCQG is intended to increase climate finance commitments, specifically building upon the previous target of $100 billion annually for developing countries, with a work programme concluding at COP29.
• The SB60 meetings in June 2024 aim to create a draft framework for the NCQG negotiating text, addressing key elements such as finance sources, timescales, and transparency mechanisms.
• The timeline for finalizing the NCQG involves developing a draft framework at SB60, refining text options during a Technical Expert Dialogue in August or September 2024, and reaching a final agreement at COP29.

APA

ClimaTalk (n.d.). SB60 | BONN CLIMATE CHANGE CONFERENCE 2024 New Collective Quantified Goal (NCQG) on Climate Finance. https://climatalk.org/wp-content/uploads/2024/06/Factsheet-1_NCQG.pdf

Chicago

ClimaTalk. SB60 | BONN CLIMATE CHANGE CONFERENCE 2024 New Collective Quantified Goal (NCQG) on Climate Finance. n.d. https://climatalk.org/wp-content/uploads/2024/06/Factsheet-1_NCQG.pdf.

Wikipedia

{{cite report |author=ClimaTalk |title=SB60 | BONN CLIMATE CHANGE CONFERENCE 2024 New Collective Quantified Goal (NCQG) on Climate Finance |url=https://climatalk.org/wp-content/uploads/2024/06/Factsheet-1_NCQG.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatalkndsb60, author = {{ClimaTalk}}, title = {{SB60 | BONN CLIMATE CHANGE CONFERENCE 2024 New Collective Quantified Goal (NCQG) on Climate Finance}}, institution = {ClimaTalk}, url = {https://climatalk.org/wp-content/uploads/2024/06/Factsheet-1_NCQG.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }