Sebastián Lema and Samantha Shin from our Climate Finance team will be making the trip to Bonn, Germany for the annual UNFCCC event
WASHINGTON, D.C. – CCAP is heading to the 2023 Bonn Climate Change Conference (SB 58), hosted by the United Nations Framework Convention on Climate Change (UNFCCC) from June 5-15. Sebastián Lema (Climate Finance Director) and Samantha Shin (Senior Climate Finance Associate) will make the trip to Germany to follow the ongoing climate negotiations.
As the halfway mark of 2023 approaches, anticipation for the UNFCCC’s 28th Conference of the Parties (COP28)—which will take place in the United Arab Emirates later this year—is growing across the world. The annual Bonn Climate Change Conference allows the Parties to convene and discuss the progress made during the last six months. SB 58 aims to set the stage for global dialogue between international leaders with an emphasis on previewing COP28 priorities and advancing the ambition around topics, such as greenhouse gas reductions, climate resilience and climate finance. The Conference will take place at the World Conference Center Bonn (WCCB).
SB 58 promotes the global effort to address climate change by providing a forum for all stakeholders to share their findings and progress. The discussions, planning and decision-making will comprise of input from delegates representing more than 100 participating countries in the Paris Agreement. In addition to the UNFCCC Parties, business leaders, researchers, media and non-governmental organizations will also attend as observers to analyze and report on the proceedings.
CCAP is currently advancing policy solutions to accelerate transformative climate finance by mobilizing financial resources from the public and private sector. With the New Collective Quantified Goal (NCQG), CCAP is advocating to operationalize and implement Article 2.1(c) of the Paris Agreement to:
Enhance the transparency of public and private finance alignment to the Paris Agreement
Accelerate finance for mitigation, adaptation and climate resilience
Signal financial market participants to align financial flows toward a shift from brown to green investments.
Additionally, CCAP is advocating for Article 6 of the Paris Agreement by supporting governments and communities in implementing carbon markets to achieve their climate goals and to help improve their Nationally Determined Contributions (NDCs). This includes:
Developing a holistic vision of the markets
Practical solutions about how to address robust accounting
A guarantee that the markets are used as tools for local governance and development to strengthen equity amongst local communities.
What are the main topics to be discussed and negotiated this year at SB 58?
The Bonn Climate Change Conference will cover a wide range of topics relating to the objectives set forth during COP27, which took place last November. The provisions and tools for the successful implementation of the Paris Agreement expect to be further detailed. UN climate talks on providing financial support to developing countries in adapting to the impacts of climate change and cutting emissions will continue to be a focus in Bonn.
Adaptation: All Paris Agreement Parties have committed to strengthening the global response to climate change by increasing the ability of all to adapt, build resilience and reduce vulnerability. SB 58 includes workshops to accelerate the global goal on adaptation (GGA) and aims to mainstream adaptation activities through target-setting (i.e., benchmarking, indicators, etc.) and updating current methodologies.
Mitigation: Efforts to reduce or prevent the emission of global greenhouse gases will continue to be a key focus area during the climate discussions in Bonn. The First Global Dialogue and Investment-Focused Event under the Sharm el-Sheikh Mitigation Ambition and Implementation Work Programme will take place during the opening week. The Programme will have a focus on Accelerating Just Energy Transition through the implementation of policies with a global overview and country-specific perspective. This will address financial, technological and capacity-building needs through international cooperation and provision to developing countries, with a focus on the socioeconomic impact of these actions.
Climate Finance: Mobilizing financial flows toward climate projects and catalyzing private finance continues to be one of the most critical agenda items for the UNFCCC. Discussions on climate finance and the 6th Technical Expert Dialogue (TED) for the NCQG announced initially during COP27 will also be highlighted at SB 58.
Monitoring Mechanisms: Discussions around monitoring frameworks and procedures, such as transparency frameworks and the Global Stocktake, will take place among country Parties. In efforts to increase transparency under the Enhanced Transparency Framework (ETF), thresholds will be established for improved monitoring, reporting and verification (MRV) activities. In addition, SB 58 will be a strong platform for non-state stakeholders to discuss how to influence and enhance the formal monitoring systems of the Paris Agreement.
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CCAP’s mission is to support every step of climate action, from ambition to implementation. A recognized world leader in climate policy and action, CCAP creates innovative, replicable climate solutions, strengthens capacities, and promotes best practices across the local, national, and international levels to accelerate the transition to a net-zero, climate resilient future. CCAP was founded in 1985 and is based in Washington, DC.