Making Climate Finance Work for All

Climate change is accelerating, and it is the poorest and most vulnerable women, men and children who are paying the highest price. 2023 saw temperature records broken month on month, and 2024 looks set to be the same. Some impacts, such as droughts, wildfires and extreme rainfall, are escalating faster than predicted, with devastating impacts on individuals’ lives and livelihoods.

It is critical that this New Collective Quantified Goal, or NCQG, reflects the lessons learned over the last 15 years, restores trust in the multilateral process, and equips countries to respond to rapidly escalating challenges. This report sets out key principles and five tests that can help ensure the NCQG is robust, all of which are underpinned by a core principle of fairness.