Nationally Determined Contributions
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Name: Nationally Determined Contributions Working Group
Chair: Chris Dodwell, Director Climate Change, Ricardo Energy & Environment
Purpose: our purpose is to focus on the finance and delivery of the Nationally Determined Contributions under the Paris Agreement.
- Private sector input into development of NDC financing plans
- Implications of NDCs for carbon markets
- Raising private sector finance for adaptation
Available public sector finance is clearly insufficient to fund the implementation of the Paris Agreement, whereas there are surpluses of private capital looking for investments generating higher returns. NDCs, as currently conceived, do not provide a strong enough policy signal for private sector investors, so there is an urgent need to develop NDC-friendly financing plans and use finite public resources to de-risk and crowd in private sector investment into NDCs.
We’ve been directly involved in the Climate Finance Accelerator programme, which has been supported by UK government, IDB and philanthropic foundations which brought together a group of developing country governments to the City of London to work face-to-face with investors on developing financing plans.
With regards to adaptation, this is always a difficult issue given that it is harder to generate revenue from adaptation investments than mitigation projects. But for many countries adaptation is the main priority and public-private partnerships (PPPs) are frequently used in climate-resilient infrastructure.