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The Loss and Damage collaboration have published an open letter to the Cop presidency, about the negotiations for a new collective quantified goal on climate finance (NCQG). They explaining their reasoning here.

The letter is, essentially, a plea. They point out that “emissions in developed countries continued to grow, leaving a diminishing slice of the global carbon budget for developing countries to meet their social and development needs, which corresponds to an enormous financial debt owed to developing countries by developed countries.”

We call on you to agree to:

An NCQG that ensures that we can keep below the 1.5°C survival limit of the Paris Agreement.

An NCQG based on the needs and priorities of developing countries and with public funds provided by developed countries exclusively for all developing countries, one that does not deviate from Article 9 of the Paris Agreement.

An NCQG that delivers at least USD 1.3 trillion a year for mitigation, adaptation and Loss and Damage provided as grants and highly concessional finance.