Unlocks Finance

About This Route

Increasing access to finance for climate action is critical for the implementation of the next NDCs and to enhance ambition. Climate finance refers to local, national or transnational financing – drawn from public, private and alternative sources of financing – that seeks to support mitigation and adaptation actions that will address climate change (UNFCCC). Lack of finance is a barrier for many developing countries, especially where there are limited resources and other pressing national priorities. Improving access could include redirecting public funds toward low-carbon and climate-resilient activities, away from harmful subsidies and maladaptation; streamlining requirements for developing countries to access climate funds; early and closer engagement with the private sector; and strengthening enabling environments. This route will explore ways to unlock climate finance in the next round of NDCs 3.0.

Note, this section is still under development and will be available by the end of July 2024.

How This Links to Other Routes

Finance is inextricably linked to the following Routes of the NDC 3.0 Navigator.

Route: Aligned to the Paris Agreement Temperature Goal

Finance intersects with mitigation efforts by providing the necessary resources to achieve set targets, including economy-wide NDC targets. Additionally, the availability of climate finance is important as it instils the confidence needed for parties to commit to higher mitigation ambition.

Route: Aligned to Paris Agreement Global Goal on Adaptation

Finance plays an important role in raising ambition and achieving adaptation targets, ensuring that adaptation efforts are adequately funded and implemented e.g. via the Loss and Damage Fund.

Route: Mobilizes All-Of-Government and All-Of-Society

Financial flows within and between levels of government, as well as between non-Party stakeholders, is integral to implementing ambitious climate action.

Route: Delivers a Just and Equitable Transition

Just Transition initiatives heavily rely on finance to unlock opportunities for economic transformation, empowering all stakeholders and facilitating a smooth transition to sustainable practices.

Route: Technology and Capacity-Building as Needs and Enablers

Meeting the technological needs outlined in NDCs requires substantial financial support, enabling the uptake and transfer of technology to address climate challenges effectively.

Support Opportunities

Support is available to countries to apply the learning from the navigator and develop ambitious NDCs 3.0.

Share Additional Resources

Contribute new guidance, tools and strategies to be reflected in the NDC 3.0.