Tag: Bonn

The development of the new collective quantified Goal (NCQG) for climate finance reached its midway point recently during the Bonn Climate Conference held in Bonn. The process is in accordance with the Paris Agreement, where governments agreed to establish the NCQG starting from a minimum of USD 100 billion annually, taking into consideration the requirements and priorities of developing nations. The initiative began in early 2022 and scheduled to conclude by the end of 2024.

The Bonn Climate Change Conference on June 15 concluded, making steady progress on issues of critical importance, including the global stock-take, climate finance, loss and damage, and adaptation, among many others.