E15: Decoding NCQGs: Why COP29 Missed the Mark on Climate Finance

This podcast episode features Alissa Kleinnijenhuis and host Harry MacKenzie discussing the New Common Quantified Goals (NCQGs) from COP 29 and its implications for global climate finance. The conversation underscores the systemic omission of fossil fuels from climate action discourse and highlights the inadequacies of the current financial commitments to decarbonization. Alissa elaborates on the need for developed countries to provide substantial and properly defined climate finance in grant-equivalent terms to aid developing countries in transitioning to renewable energy. The episode also explores the geopolitical and economic dynamics that hinder sufficient climate action and the urgent necessity for a coordinated, large-scale financial response to meet global mitigation targets. Alissa concludes by pointing out the economic self-interest for developed nations to fund decarbonization in developing countries, emphasizing the critical nature of timely and targeted climate finance. To learn more about Alissa’s research, please follow the links below: 

Joint Statement: link 

Paper #1: link 

Paper #2: link 

00:00 Introduction to the Climate Crisis 

00:28 Understanding NCQGs and Their Importance 

00:58 Challenges in Climate Finance 

02:26 COP 29 and Climate Finance Goals 

04:01 Issues with Current Climate Finance 

05:09 Economic Case for Climate Finance 

06:25 Political and Economic Barriers 

08:32 Proposed Solutions and Recommendations 

28:29 Conclusion and Final Thoughts