
USCIB Director for Environment & Sustainable Development Agnes Vinblad represented the global Business and Industry constituency in a UN Framework Convention on Climate Change (UNFCCC) Dialogue with the Chairs of the UNFCCC Subsidiary Bodies (SB) at the UN Climate COP in Azerbaijan on November 14.
During this exchange, the SB Chairs provided updates on the negotiations thus far and welcomed input from the nine constituency groups, including business. Vinblad emphasized business support for a robust decision on the New Collective Quantified Goal on climate finance (NCQG), outlining the need for a strong and central public finance commitment at the core of the new climate finance decision. However – as almost half of climate finance today is provided by private sector – global business also calls for a constructive “outer layer” of the NCQG, to send the right investment signals to the private sector, and to align the global financial system with the Paris Agreement.