Article révisé par les pairs
Résumé : Formal deliberations for the new collective quantified goal on climate finance beganat COP26 in Glasgow. This Perspectives article aims to inform this process bydiscussing the potential size and nature of is post-2025 target. We argue that theclimate finance system around the current target to mobilise US$100 billion peryear to support developing countries has been fraught with difficulties, and that itwould be ineffective to simply increase the climate finance target withoutaddressing these difficulties. Therefore, we identify and discuss five priorityelements for negotiations: the relation to Article 2.1(c) of the Paris Agreement; theadaptation-mitigation balance; financial instruments; mobilising private finance;and ‘new and additional’ finance. To increase transparency, accountability, andtrust in climate finance under the UNFCCC and to simultaneously allow for themobilisation of finance at scale, we suggest setting a sub-target for grants. Incombination with additional (sub)target(s), this could define an overall newcollective quantified goal that is better suited to serve the challenging dual role ofmobilising finance at scale and transferring resources to developing countries.

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