Perspectives of the Global South on the NCQG: CAN THE CBD FINANCIAL TARGETS MODEL BE REPLICATED FOR THE UNFCCC NEW CLIMATE FINANCE GOAL?

The research paper compares the financial targets of the Kunming-Montreal Global Biodiversity Framework (KM GBF) with the UNFCCC's New Collective Quantified Goal (NCQG). It argues that the CBD's approach—which combines the reduction of harmful subsidies, mobilization from diverse sources, and specific developed-to-developing country provisions—could serve as a model for the NCQG. The authors recommend a 10-year operational timeframe with five-year milestones, a quantum based on a subset of developing countries' needs, and a layered financial structure that includes the phase-out of fossil fuel subsidies.

• The current USD 100 billion climate finance goal is criticized for not being collectively negotiated with developing countries or based on their needs, and for being dominated by loans (over 70%) and mitigation (around 60%), which has contributed to climate-induced debt.
• Developing countries' financial needs for a 1.5°C transition are estimated at up to USD 6 trillion annually for the pre-2030 period, with total annual global climate finance projected to exceed USD 10 trillion between 2031 and 2050.
• The CBD's financial model, specifically Targets 18 and 19, provides a potential blueprint for the NCQG by combining the reduction of harmful incentives (USD 500 billion), general resource mobilization (USD 200 billion), and specific developed-to-developing country provisions (USD 20-30 billion).
• The authors recommend the NCQG adopt a layered structure: a core target for public international finance from developed to developing countries, a target for private finance led by developed countries, and a domestic mobilization approach to phase out fossil fuel subsidies.
• To improve effectiveness, the NCQG should strategically allocate financial instruments: grants and non-debt instruments for adaptation and loss and damage, and highly concessional finance or risk-sharing instruments for mitigation.
• The document proposes a 10-year operational timeframe for the NCQG with five-year intermediate goals and indicative longer-term targets for 2040 or 2050 to align with the Paris Agreement's long-term vision.
• The current Enhanced Transparency Framework (ETF) is limited because it excludes financial information from non-State actors; the authors suggest updating Common Tabular Formats (CTFs) to include loss and damage as a category and to report on the phase-out of fossil fuel subsidies.

APA

A., L. C., J., S. A., & A., M. (2024). Perspectives of the Global South on the NCQG: CAN THE CBD FINANCIAL TARGETS MODEL BE REPLICATED FOR THE UNFCCC NEW CLIMATE FINANCE GOAL? Transforma. https://transforma.global/wp-content/uploads/2024/11/Perpectives-of-the-Global-South-on-the-NCQG.pdf

Chicago

A., Lopez Carbajal,, Solano Acuña, J., and Mateus, A. Perspectives of the Global South on the NCQG: CAN THE CBD FINANCIAL TARGETS MODEL BE REPLICATED FOR THE UNFCCC NEW CLIMATE FINANCE GOAL? Transforma, 2024. https://transforma.global/wp-content/uploads/2024/11/Perpectives-of-the-Global-South-on-the-NCQG.pdf.

Wikipedia

{{cite report |last1=A. |first1=Lopez Carbajal, |last2=J. |first2=Solano Acuña, |last3=A. |first3=Mateus, |title=Perspectives of the Global South on the NCQG: CAN THE CBD FINANCIAL TARGETS MODEL BE REPLICATED FOR THE UNFCCC NEW CLIMATE FINANCE GOAL? |publisher=Transforma |date=2024 |url=https://transforma.global/wp-content/uploads/2024/11/Perpectives-of-the-Global-South-on-the-NCQG.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{a2024perspectives, author = {A., Lopez Carbajal, and J., Solano Acuña, and A., Mateus,}, title = {{Perspectives of the Global South on the NCQG: CAN THE CBD FINANCIAL TARGETS MODEL BE REPLICATED FOR THE UNFCCC NEW CLIMATE FINANCE GOAL?}}, institution = {Transforma}, year = {2024}, url = {https://transforma.global/wp-content/uploads/2024/11/Perpectives-of-the-Global-South-on-the-NCQG.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }