At this early stage \u2013 with the NCQG due to be agreed at COP29 in Baku in November \u2013 many countries are keeping proposals for specific numbers close to their chests, particularly as the UN is due to publish a needs-setting report in October that will offer guidance. .<\/p>\n
But the Arab group put forward a figure of $1.1 trillion a year from 2025 to 2029. Of that, $441 billion should come from public grants and the rest should be money mobilized from other sources, including loans offered at below-market rates.<\/p>\n
The group, supported by the G77+China,\u00a0she even suggested\u00a0<\/a>how developed countries could raise this amount - through a 5 % sales tax on developed country fashion, technology and arms companies - plus a financial transaction tax.<\/p>\n Military emissions account for 5 % of the global total, the Saudi negotiator said. This surprised many observers, as Saudi Arabia is\u00a0the fourth largest\u00a0<\/a>the world's per capita source of military spending and receives much of its equipment from Western arms companies.<\/p>\n However, developed countries insist that they cannot earn all the money and are asking for help. The EU negotiator said the NCQG should be a "global effort," while Canada said it should come from a "broad set of contributors." In other words, richer and more polluting developing countries, such as the Gulf countries, should also play their part.<\/p>\n However, developing countries remain, at least publicly, united against these attempts to distinguish between them. They say that developed countries have the money - it's just a question of whether they have the "political will to prioritize climate change".<\/p>\n Another emerging difference is whether to include a sub-target for loss and damage in the NCQG. Developing countries want it, but developed countries are against it.<\/p>\n When asked why, an EU negotiator told Climate Home that the Paris Agreement "provides no basis for accountability or compensation" and that climate change funding under the NCQG should consist of only two categories: mitigation and adaptation.<\/p>\n Co-chairs of the talks - Australian Fiona Gilbert and South African Zaheer Fakir slimmed down the extensive\u00a0<\/span>63-page document\u00a0<\/a><\/span>,<\/span> which they submitted to Bonn, on only\u00a045-page\u00a0<\/a><\/span>.<\/span> Negotiators will continue to negotiate it this week. The interviews continue (and are broadcast live) today and tomorrow at 3-5 pm.<\/p>","protected":false},"excerpt":{"rendered":" At this early stage \u2013 with the NCQG due to be agreed at COP29 in Baku in November \u2013 many countries are keeping proposals for specific numbers close to their chest, especially as the UN is due to publish a needs assessment report in October that will offer guidance. . However, the Arab Group has put forward a figure of $1.1 trillion per year from [\u2026]<\/p>","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-28146","post","type-post","status-publish","format-standard","hentry","category-cop28-cop29-cop30-cop31"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/28146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/comments?post=28146"}],"version-history":[{"count":0,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/28146\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/media?parent=28146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/categories?post=28146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/tags?post=28146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}