Tax Cooperation and Climate Finance – Kicking the Can Down the Road to COP29
As the 79th UNGA comes to a close, the global community remains divided on how to address the climate finance gap. Despite some progress on framing an international tax convention, the discussion on taxation and climate finance continues to be sidestepped.
African Ministers call for $1.3 trillion Climate Finance Target
At the African Ministerial Conference on the Environment, Ministers called for a new climate finance target of not less than US$1.3 trillion annually. This aligns with numbers put forward by India and the Arab Group, but developed countries have been overwhelmingly silent on what amounts they intend to propose.
African Group of Negotiators Put Forward COP29 Positions
The African Group of Negotiators has settled on a set of positions it will take to COP29 in November in Baku. Reaching a fair, equitable and fit for purpose new finance goal remains front and centre. The group is also keen to reach agreement on key elements needed to operationalise the Global Goal on Adaptation, the Loss and Damage Fund, and Article 6 on carbon markets.
