Developed countries must declare $1.3 trillion climate financing under NCQG, demands CSOs

Leaders of South Asian civil society today (22 November) demanded that developed countries declare $1.3 trillion climate financing in line with the New Collective and Quantified Goal on Finance (NCQG). 

Speaking at a press conference on the sidelines of COP29 in Baku of Azarbaizen, they also demanded a clear framework and structure on NCQG based on the equity and justice that enshrined in the Article 9.1 of the Paris Agreement, reads a press statement.

They also advised the developed countries not to leave Baku without giving a concrete and measurable financial declaration and finalising the framework in CoP29. 

The press conference, titled "LDC's & MVC Peoples' Expectations and CoP 29," saw representatives from various Civil Society Organizations (CSOs), including Shailendra Yashwant Kharat from Climate Action Network, South Asia (CANSA) in India,  Abid Suleri, executive director of SDPI-Pakistan, Arjun Karki from Nepal, and Sharif Jamil from Bangladesh participating.

The event was moderated by Aminul Hoque from EquityBD, Bangladesh.

Aminul criticised the developed countries, and their ally COP presidency failed explicitly in making a clear statement for transition away from fossil fuels and this condition removed from the final draft text pressurized by big emitters.

Secondly, they also deceived and contempt up the LDC, MVC and developing countries giving an obscure framework without ensuring a measurable and meaningful financial support for NCQG. Developed countries kept all the LDC and MVCs issues under the "bracket" and "options" in draft decision text which is against the principal of equity & justice he criticized, he said.

He demanded a promised from big emitters to produce new NDCs in line with limiting warming to 1.5C, ahead the year 2025 and a measurable declaration contain $1.3 trillion  per year as minimum financial need for fighting climate crisis.

Meanwhile, Shailendra accused developed leaders have "stark failure" showing Paris Agreement in respect and insult the global north showing a "No Deal" agreement.

Their rehashed rhetoric offers not a supportive for CoP-29 negotiations. We are seeing a deadlock due to unsolved much more contradictory issues like "investment opportunity", "partnership" and "enhance domestic resource mobilization" in the negotiation shifting all responsibilities to developing countries.

He said, there are no more excuses for global north in Baku. As we are heading in the edge of negotiation of COP-29, against all odds, developed countries must be ambitious and deliver required climate finance of $1.3 trillion based on the Article 9.1 of PA to enable climate action for developing world following justice.

Also speaking on the occasion, Abid Suleri said there are hardly output we seen on mitigation ambition and its related work program and tried to imposed condition in the name of setting target and forceful carbon trading options etc. in the draft text, those will undermine our demands in fact and put countries in vicious circle of "Debt trap".

"We demand the definition of vulnerability and propose to invite and engage the IPCC experts [Intergovernmental Panel on Climate Change] to best alignment with 1.5-degree goal and its related work with the revision of NDC and subsequent global stocktakes ahead COP30,"  he said.