BackgroundBy decision 1/CP.21, para. 53, Parties decided that, prior to 2025, the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA) shall set a new collective quantified goal (NCQG) from a floor of USD 100 billion per year, taking into account the needs and priorities of developing countries.
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Third Technical Expert Dialogue under the Ad hoc Work Programme on the New Collective Quantified Goal on Climate Finance
Date: 6-9 September 2022
City: Mandaluyong City, Metro Manila
Country: Republic of the Philippines
Time: 09:00H – 18.00 (UTC+8)
More information can be found here
Message from Co-Chairs - Information on the third and fourth technical expert dialogue under the ad hoc work programme of the new collective quantified goal. More information can be viewed here.
Co-chairs of the ad hoc work programme on the new collective quantified goal on climate finance (2022)
His Excellency Alok Sharma, President of COP 26, CMP 16 and CMA 3, has appointed Federica Fricano (Italy) and Kishan Kumarsingh (Trinidad and Tobago) as co-chairs for 2022 of the ad hoc work programme on the new collective quantified goal on climate finance. Further information about the co-chairs is available here.
Parties set up an ad hoc work programme from 2022 to 2024, to be facilitated by two co-chairs, one from a developed country and one from a developing country. The co-chairs will be appointed by the CMA President for a duration of one year in consultation with the respective constituencies.
Activities under the work programme include the following:
1. Technical expert dialogues
The CMA decided to conduct four technical expert dialogues per year as part of the ad hoc work programme, with one of these dialogues to be held in conjunction with the subsidiary bodies and one to be held in conjunction with the CMAs, and the two remaining dialogues to be organized in separate regions with a view to facilitating inclusive and balanced geographical participation.
The technical expert dialogues will be organized on the basis of the submissions received from Party and non-Party stakeholders. The dialogues will be open to all interested Parties, academia, civil society actors, including youth, and private sector actors and be webcast.
2. Annual reports
The CMA requested the co-chairs of the ad hoc work programme to prepare an annual report on the work conducted under that work programme, including a summary and key findings of the technical expert dialogues for consideration by the CMA. The annual reports will inform deliberations at the high-level ministerial dialogues.
3. Regular consultations with Party and non-Party stakeholders
The co-chairs will maintain regular consultations with the constituted bodies, in particular the Standing Committee on Finance, as well as United Nations agencies, climate finance experts, academia, private sector and civil society actors with a view to informing the ad hoc work programme.
The CMA invited Parties, constituted bodies under the Convention and the Paris Agreement, the operating entities of the Financial Mechanism, climate finance institutions, observers and observer organizations, and other stakeholders, particularly from the private sector to submit by February and August 2022, respectively, their views on the objectives of the ad hoc work programme as specified in para. 15 of decision 9/CMA.3 and on the elements outlined in para. 16 of the same decision. The secretariat will prepare a technical paper on the submissions received.
Parties requested the President of the CMA to convene high-level ministerial dialogues starting in 2022 and ending in 2024, ensuring effective political engagement and open, meaningful and robust discussion. The high-level ministerial dialogues will be informed by the reports of the technical expert dialogues, with a view to providing guidance on the further direction of the ad hoc work programme for the following year. The CMA President will prepare a summary of the deliberations, including recommendations, for consideration by the CMA at that session.
The CMA will take stock of progress made in 2022 and 2023 and provide further guidance on the work programme, taking into consideration the annual reports of the co-chairs, including the key findings contained therein, and the summary reports on the HLMDs, including its guidance. In 2024, the CMA will take stock of progress made and set the NCQG.
