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

The document argues that the New Collective Quantified Goal (NCQG) must include a specific annual adaptation finance target of at least USD 215 billion, prioritizing public grants and concessional loans over non-concessional debt. To be effective, the goal should balance global, national, and local priorities, including support for locally led adaptation and transboundary climate risk management. For equity, the brief recommends prioritizing Least Developed Countries (LDCs) and Small Island Developing States (SIDS), increasing funding for Indigenous Peoples and women, and simplifying access to finance through Direct Access and Enhanced Direct Access programs. It further suggests updating the Enhanced Transparency Framework (ETF) in 2028 to improve accountability for both providers and recipients of adaptation finance.

• To achieve sufficiency, the NCQG should establish 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 every 10 years to account for the unpredictability of global warming.
• Public finance, specifically grants and concessional loans, must be recognized as the primary form of support for adaptation to avoid increasing the debt burdens of countries already in debt distress. Innovative sources, such as levies on international shipping and aviation, should be viewed as complements rather than replacements for grant-based finance.
• 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 more finance to support regional and multi-country cooperation to manage transboundary climate risks.
• Adaptation finance allocation is currently inequitable, with as little as 17% reaching local communities and less than 1% reaching Indigenous Peoples. The NCQG should prioritize LDCs and SIDS, set quantitative targets for gender responsiveness and Indigenous Peoples' funding, and incorporate child-responsive elements.
• To improve equitable access, UN funds and Multilateral Development Banks (MDBs) should harmonize and simplify application and disbursement procedures. The brief advocates for the expansion of Direct Access and Enhanced Direct Access programs to reduce dependence on international agencies.
• Current transparency arrangements under the Enhanced Transparency Framework (ETF) are insufficient for accountability. The brief suggests that the 2028 ETF review should introduce harmonized tracking methods, require reporting on grant equivalent values, and mandate quantitative data on beneficiaries with increased adaptive capacity.

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} }