COP29 Official Side Event – Delivering on Volume and Impact for Climate Finance and Investment to Support 1.5°C Aligned NDCs

Making finance flows consistent with countries’ needs for their low-emission, climate-resilient development requires deep collaboration between governments, financial institutions, private companies, civil society organizations, and local communities. This event was took stock of existing and innovative tools that can be deployed to attract additional finance and enhance the impact of existing finance, in order to transform national ambitions into actionable investment plans. 

Achieving the goals set by the Paris Agreement, namely limiting global warming to 1.5°C, requires significant scaling up of climate finance. Many countries, particularly in the Global South, face barriers in turning their Nationally Determined Contributions (NDCs) into actionable investment plans. This side event was aimed to explore both the volume and impact of climate finance and how it can be delivered to enable meaningful progress toward 1.5°C-aligned NDCs.  

This discussion is critical to address the current gap between the financing available and what is needed to support low-carbon development pathways. This event  was explored how innovative models like country platforms and complementary approaches such as transition plans for the private sector can bridge this gap. By bringing together finance experts, policymakers, and thought leaders, this event was aimed to provide actionable insights into how countries can scale climate finance for better alignment with their NDCs and maximize impact of the finance they unlock.