Bonn Climate Change Conference

Countries will convene in Bonn, Germany, for the 60th Session of the Subsidiary Bodies (SB60) to advance agreements made during the last Conference of the Parties on Climate Change (COP28) in Dubai, United Arab Emirates (UAE).

COP28 marked not only the end of 2023 but also the beginning of a renewed vision towards defining the New Collective Quantified Goal (NCQG) from 2025 onwards. Since 2009, developed countries have fallen short of their commitment to mobilize and channel $100 billion annually in climate finance toward developing countries, impeding its delivery and increasing the level of uncertainty on whether the timelines defined in the Paris Agreement can still be achieved. The Organization of Economic Cooperation and Development (OECD) revealed that the total provision and delivery of climate finance in 2021 amounted to $89.6 billion, which although shows a significant increase from 2020 ($83.3 billion) and previous years, it still falls short of the $100 billion threshold.

For Small Island Developing States (SIDS)—these islands have historically contributed the least to climate change but are frequently hit the hardest by its cascading effects—the Bonn Climate Change Conference will be critical for amplifying their voices on key areas related to the NCQG, including the newly established Loss and Damage Fund and the world’s first-ever Global Stocktake (GST). These two outcomes will inform the benchmarks for financing adaptation and resilience under the NCQG.

Read the full blog: https://www.ccap.org/post/blog-all-eyes-on-bonn-the-global-stocktake-and-its-role-in-shaping-the-new-collective-quantified