As the world grapples with the escalating impacts of climate change, the need for a comprehensive and equitable climate finance solution has never been more pressing. With the Paris Agreement's goals in sight, the international community must come together at COP29 to chart a path forward that delivers the resources necessary to mitigate, adapt, and address the loss and damage caused by this global crisis. This pivotal moment presents an opportunity to redefine the climate finance landscape, ensuring that the principles of justice, equity, and fairness are at the heart of the decision-making process.

Securing a Just and Equitable Climate Finance Framework

Establishing a Robust and Inclusive NCQG

The negotiations on a New Collective Quantified Goal (NCQG) on climate finance will be a critical focus at COP29. To ensure that this goal truly serves the needs of the most vulnerable, it must be structured to guarantee a minimum public finance provision target of $1 trillion per year, predominantly in the form of grant-based funding from developed to developing countries. This target should cover all thematic areas, including mitigation, adaptation, and loss and damage, with clear sub-goals for each. Crucially, the NCQG must be aligned with inclusive just transition pathways, recognizing the historical climate debt owed by developed nations.

Embedding Justice and Equity Principles

Underpinning the NCQG must be a strong commitment to justice, equity, and fairness. This means that the goal should embody principles of additionality, predictability, and accessibility, while also ensuring that the finance provided is affordable and non-debt inducing. The "polluter pays" principle and tax justice must be central to the framework, with developed countries taking the lead in reorienting their public finances to do no harm and pursuing new sources of climate finance.

Enhancing Transparency and Accountability

Effective climate finance requires robust transparency and accountability mechanisms. This includes agreeing on a clear definition of climate finance and establishing a fit-for-purpose Enhanced Transparency Framework (ETF) to track progress and ensure the equitable distribution of resources.

Delivering a Just Transition Action Plan

The Just Transition Work Programme (JTWP) presents a crucial opportunity to ensure that the justice dimension of the transition to a fossil-free future is fully realized. At COP29, the decision on the JTWP must recommend actions based on the Dialogues and agree to deliver a Just Transition Action Plan by COP30. This plan should cover both the securing of rights and a shared understanding of the elements of justice, as well as the delivery of international cooperation to make a just transition a reality.

Elevating Adaptation and Addressing Loss and Damage

Adaptation and loss and damage have long been undervalued and underfunded aspects of the climate response. At COP29, developed countries must urgently scale up adaptation finance to developing countries, with a clear roadmap for delivery and implementation. Additionally, a dedicated sub-goal on loss and damage within the NCQG must be established to provide a solid foundation for addressing this critical issue.

Transforming the Energy System for a 1.5°C Future

As countries prepare to deliver their next Nationally Determined Contributions (NDCs) in 2025, COP29 must provide a clear "Roadmap for 1.5 & Climate Justice" to guide this process. This roadmap should include guidance on aligning NDCs with climate justice and 1.5°C pathways, as well as how international cooperation will support the implementation of these ambitious plans.

Upholding Human Rights and Justice

Respect for human rights and justice must be core principles at COP29. The UN, the UNFCCC Secretariat, the COP29 Presidency, the host government, and all Parties must guarantee freedom of expression and peaceful protest for all participants during and after the conference.

Ensuring Integrity in Article 6 Negotiations

As the negotiations on Article 6 and market-based mechanisms continue, it is crucial that these mechanisms guarantee the protection of human rights and the rights of Indigenous Peoples. The process must be inclusive and participatory, with robust grievance redressal mechanisms in place. Importantly, revenues from the trade of mitigation outcomes must not be considered a substitute for the climate finance commitments of developed countries.In the face of a spiraling climate crisis, COP29 represents a pivotal moment to unlock the necessary scale of climate action and ensure that it is delivered in a just and equitable manner. By prioritizing the key demands outlined in this article, the international community can chart a path forward that upholds the spirit of the Paris Agreement and delivers the resources needed to build a resilient, sustainable, and equitable future for all.