UNCTAD-G77-TWN 2nd Workshop for G77 country negotiators ahead of COP28

The COP27 outcome made major strides in better connecting the climate regime with the broader context of global economic governance. The final text recognized that meeting climate goals “will require a transformation of the financial system and its structures and processes, engaging governments, central banks, commercial banks, institutional investors and other financial actors” (para 34, Sharm El-Sheikh Implementation Plan), making specific references to managing debt distress, reforming multilateral development banks, and scaling grant and concessional financing.

In this context, UNCTAD, the Group of 77 (G77) and Third World Network (TWN) agreed to co-hosting two workshops for G77 country negotiators to support them ahead of COP28 across a range of financing challenges that have moved to the forefront of multilateral discussions, including in the climate arena.

The first workshop took place in the Dominical Republic on 27 August 2023, back-to-back with the Third Transitional Committee meeting on the operationalization of new funding arrangements for loss and damage.

This second workshop will address: The new collective quantified goal on climate finance (NCQG); Just Transition; and Article 2.1(c) of the Paris Agreement (Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development).

The event will be informed by UNCTAD policy papers on each topic. The draft version of these papers will be shared with participants in advance of the workshop.

Programme