COP29 expectations document (annual policy document): Achieving fair climate finance to deliver resilience, ambition and a just transition

The COP29 Expectations Document by Climate Action Network emphasizes the urgent need for equitable climate finance, strong adaptation measures, and a commitment to a just transition away from fossil fuels. With most countries falling behind on Paris Agreement goals, the document calls for funding mechanisms that prioritize frontline communities and hold developed nations accountable for their climate responsibilities. It also urges COP29 to establish a roadmap for ambitious, climate-just national commitments, aligning financial support with the latest climate science and the outcomes of the Global Stocktake.

Key recommendations are as follow:

• Establish a new climate finance goal of $1 trillion per year, predominantly in grants, to fund mitigation, adaptation, and loss and damage.
• Develop a Just Transition Action Plan with a focus on human rights and equitable cooperation.
• Scale up adaptation finance, elevate adaptation within COP priorities, and establish a permanent Global Goal on Adaptation.
• Commit to increased funding for Loss and Damage, with a dedicated subgoal in the finance framework.
• Enhance Nationally Determined Contributions (NDCs) for 1.5°C alignment and support transparent, ambitious climate finance.