Climate finance: a new roadmap to deliver on high climate ambition and the SDGs

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Ongoing (updated on 26/03/2024) - Bureau decision date: 18/01/2024
Reference
NAT/929-EESC
Opinion Type
Own-initiative opinion
Rapporteur
Antje GERSTEIN
Employers - GR I
Germany
Co-rapporteur
Kęstutis KUPŠYS
Civil Society Organisations - GR III
Lithuania
Plenary session number
588
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Practical information

  1. Composition of the study group and timeline
  2. Administrators / Assistant in charge: Anna CAMERON, Judit CARRERAS GARCIA / Lukáš ĎURECH
  3. Contact

Background

Amidst the escalating climate crisis, the European Economic and Social Committee (EESC) is undertaking an own-initiative opinion to drive forward transformative action in climate finance. This opinion aims to develop innovative mechanisms that incentivize sustainability within a global financial architecture. By realigning investments toward low-carbon and climate-resilient economies, the EESC seeks to accelerate progress towards ambitious climate targets and the Sustainable Development Goals (SDGs).

In this opinion, the EESC will explore tools to leverage climate finance for tangible climate change mitigation and adaptation outcomes, while ensuring a just transition for all. Embracing a comprehensive and inclusive approach, the opinion will address the newly formed Task Force "Global Mobilization on Climate Change" of Brazil's G20 Presidency. This task force aims to facilitate dialogue among financial institutions and international organizations to respond effectively to the climate emergency.

Moreover, the EESC will provide vital input to upcoming global summits and UNFCCC negotiations, guiding discussions on climate finance strategies and priorities. By engaging civil society stakeholders, the opinion will crystallize concrete recommendations for negotiations leading up to COP29. These recommendations will aim to influence global finance and decarbonization strategies, paving the way for a sustainable and equitable future.