Draft New Collective Quantified Goal (NCQG) UPSC

Countries are negotiating the draft of the new collective quantified goal (NCQG) on climate finance at the continuing UN summit on climate trade (COP29). In 2009, at the COP15, developed countries set a target of $100 billion per year to be met by 2020. COP21 2015, resulted in the Paris Agreement wherein nations agreed that they might set a New Collective Quantified Goal for finance in 2024.