Delivering on the promise of climate finance - at last

<p><strong>The insight and debate from the Climate Co-Lab event at COP28</strong></p><p>In 2009, developed countries jointly pledged to mobilise $100bn per annum to support climate action in developing countries. This target has never been met and the pledge will expire in 2025. It is estimated that approximately $5 trillion is required annually, just to avoid the worst impacts of climate change.&nbsp;</p><p>The New Collective Quantified Goal (NCQG) intended to replace this pledge, is currently under negotiation, due to be finalised by the end of 2024. A successful agreement will unlock the finance needed for mitigation, adaption and loss and damage funds.&nbsp;</p><p>The Climate Co-Lab event, at the Heriot-Watt campus and in collaboration with Wood Mackenzie and Edinburgh Science, was hosted by Ed Crooks on day 5 of COP28. Joining him to explore climate finance were:</p><p>Patricia Espinosa Cantellano, Former UNFCCC Executive Secretary, Former Minister of Foreign Affairs of Mexico, Ambassador Emeritus of Mexico, and CEO and Founding Partner of onepoint5.</p><p>Mohamed Sultan, Regional Lead Africa, Global Methane Hub&nbsp;</p><p>Nigel Topping CMG, UN Climate Change High-Level Champion at COP26, Member UK CCC, NED at UKIB&nbsp;</p><p>Together they explore what fundamental changes in global systems need to occur to scale and deliver on decarbonization.</p><p>See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.</p>