“Must-haves” for adaptation finance in the New Collective Quantified Goal

This policy brief by the Stockholm Environment Institute outlines essential requirements ("must-haves") for adaptation finance within the New Collective Quantified Goal (NCQG) to be agreed upon at COP29. It focuses on three primary objectives: ensuring the finance is sufficient in quantum and instrument, effective in its implementation and scale, and equitable in its allocation and access.

• To be sufficient, the NCQG should include a specific annual sub-goal for adaptation finance of at least USD 215 billion, representing at least half of the overall quantum. This target should be revised on a 10-year timeframe to account for the unpredictability of global warming.
• Public finance, specifically grants and concessional loans, must be recognized as the core form of support for adaptation. While innovative sources like levies on international shipping and aviation are suggested as complements, they are currently insufficient to fill the funding gap.
• Effective adaptation requires a balanced investment strategy that simultaneously addresses global resilience building, alignment with national plans, and support for locally led adaptation. There is a specific need for finance to support regional and multi-country cooperation to manage transboundary climate risks.
• Adaptation finance allocation is currently inequitable; for instance, only 17% of international public adaptation finance reaches local communities, and Indigenous Peoples receive less than 1% of climate finance. The NCQG should prioritize Least Developed Countries (LDCs) and Small Island Developing States (SIDS).
• The NCQG should establish quantitative targets for equity, such as ensuring 10% of finance annually benefits Indigenous Peoples and setting gender responsiveness targets (e.g., "less than 50% of beneficiaries are men").
• To improve equitable access, the NCQG should call for the harmonization and simplification of application and disbursement procedures by Multilateral Development Banks (MDBs) and UN funds, while expanding Direct Access and Enhanced Direct Access programs.

APA

Browne, K. (2024). “Must-haves” for adaptation finance in the New Collective Quantified Goal. Stockholm Environment Institute. https://www.sei.org/wp-content/uploads/pdfs/175069/musthaves-for-adaptation-finance-in-the-new-collective-quantified-goal.pdf

Chicago

Browne, Katherine. “Must-haves” for adaptation finance in the New Collective Quantified Goal. Stockholm Environment Institute, 2024. https://www.sei.org/wp-content/uploads/pdfs/175069/musthaves-for-adaptation-finance-in-the-new-collective-quantified-goal.pdf.

Wikipedia

{{cite report |last1=Browne |first1=Katherine |title=“Must-haves” for adaptation finance in the New Collective Quantified Goal |publisher=Stockholm Environment Institute |date=September 2024 |url=https://www.sei.org/wp-content/uploads/pdfs/175069/musthaves-for-adaptation-finance-in-the-new-collective-quantified-goal.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{browne2024musthaves, author = {Browne, Katherine}, title = {{“Must-haves” for adaptation finance in the New Collective Quantified Goal}}, institution = {Stockholm Environment Institute}, year = {2024}, month = sep, url = {https://www.sei.org/wp-content/uploads/pdfs/175069/musthaves-for-adaptation-finance-in-the-new-collective-quantified-goal.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }