Civil society organisation, Climate Action Network (CAN) International, has called for a yearly financial target of $1 trillion from developed countries to aid climate adaption in the global south.
  
The call came ahead of the ministerial dialogue on the New Collective Quantified Goal (NCQG) slated to be held today in New York on the sidelines of the ongoing United Nations General Assembly (UNGA), 
  
This year’s UNGA has brought together world leaders in New York, with just 60 days to the next major UN climate summit, COP29 in Azerbaijan this November. 
With 2024 on track as the hottest year ever, world leaders at this year’s UN General Assembly are just months away from crucial deadlines including: A new climate finance goal for developing countries to be agreed upon at COP29; new national climate plans to be submitted to the UN by every government by February 2025; and tenth anniversary of the Paris Agreement at COP30 in Belem, Brazil, in November 2025.

In a statement, yesterday, Executive Director of CAN International, Tasneem Essop, noted how crucial it was for developed countries to provide the necessary finance for the global south. 
  
Essop explained that the NCQG was not just a goal, but a “moral imperative” that could create a just and equitable future for all, saying: “The world is facing a climate crisis, and developing countries are bearing the brunt of the impacts.
  
In his remarks, the Executive Director of Power Shift Africa (PSA), Mohamed Adow, said climate finance must go beyond loans, which only “pile more debt” to the global south.
  
“Climate finance is the key that can unlock a safe and prosperous planet for everyone. It can help the victims of climate breakdown adapt to the inevitable change and fund the needed transition to clean energy of the future,” Adow said.