NCQG organizational sign-on

A coalition of climate, environmental, and faith-based organizations is calling on the Biden Administration to support a New Collective Quantified Goal (NCQG) of at least $1 trillion USD per year for developing countries. The group argues that this funding should be primarily grant-based to avoid increasing debt in low-income nations and should cover mitigation, adaptation, and loss and damage. They suggest funding these goals through innovative sources like taxes on polluting companies' excess profits and reforming the international multilateral finance architecture, including the use of IMF Special Drawing Rights.

• The coalition advocates for a New Collective Quantified Goal (NCQG) of at least $1 trillion USD per year for developing countries, specifying that this funding must be "new and additional" to other humanitarian and development aid.
• To prevent low-income nations from facing a "worsening spiral of indebtedness," the coalition argues that the vast majority of the NCQG funding should be provided on a grant-equivalent basis rather than as loans.
• The document identifies specific funding gaps, noting that investments needed for developing countries' current Nationally Determined Contributions (NDCs) total approximately $6 trillion by 2030, and annual adaptation needs range from $215-387 billion USD.
• Proposed innovative funding mechanisms include taxes on the wealth of the ultra-rich, taxes on climate damages or polluting companies' excess profits, ending fossil fuel subsidies, and channeling IMF Special Drawing Rights, which could potentially generate $650 billion.

APA

Kilimanjaro, I. (2024). NCQG organizational sign-on. Union of Concerned Scientists. https://ucs-documents.s3.us-east-1.amazonaws.com/global-warming/USCAN-organizational-sign-on-NCQG.pdf

Chicago

Kilimanjaro, Ife. NCQG organizational sign-on. Union of Concerned Scientists, 2024. https://ucs-documents.s3.us-east-1.amazonaws.com/global-warming/USCAN-organizational-sign-on-NCQG.pdf.

Wikipedia

{{cite press release |last1=Kilimanjaro |first1=Ife |title=NCQG organizational sign-on |publisher=Union of Concerned Scientists |date=7 November 2024 |url=https://ucs-documents.s3.us-east-1.amazonaws.com/global-warming/USCAN-organizational-sign-on-NCQG.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{kilimanjaro2024ncqg, author = {Kilimanjaro, Ife}, title = {{NCQG organizational sign-on}}, publisher = {Union of Concerned Scientists}, year = {2024}, month = nov, url = {https://ucs-documents.s3.us-east-1.amazonaws.com/global-warming/USCAN-organizational-sign-on-NCQG.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }