ACP House, 5th and 6th November 2018 Special meeting of the Subcommittee on Sustainable Development in preparation for COP24 ACP House, 5th and 6th November 2018

LDC Expectations for COP24 2018 is a crucial year in the climate negotiations – we must finalise rules to enable full and ambitious implementation of the Paris Agreement. The Talanoa Dialogue is a key priority – intended to take stock of Parties’ efforts to progress towards the long-term goal and to inform the preparation of new and updated NDCs by 2020. Developing countries are hit by increasingly severe climate-related disasters. But, large gaps remain between support needed by developing countries and support provided in terms of finance, technology and capacity building. It is important to mobilise actions for sustainable solutions – by transforming our energy systems, greening our economy and mobilising resources to support climate actions in poor and vulnerable countries.

Key Issues to be finalised at COP24: Mitigation Addressing differentiation Minimum set of common guidelines for all Parties on up-front information Guidelines for the use of market mechanisms in achieving NDC targets and for ensuring environmental integrity Agreeing a common timeframe for NDC implementation LDCs and other progressive groups pushing for a 5-year implementation timeframe (upcoming firm NDC to avoid locking in low ambition) + additional 5-year timeframe (subsequent indicative NDC) – known as ‘5+5’

Key Issues to be finalised at COP24: Finance Upfront information on public finance to be provided Modalities needed for both ex-ante and ex-post finance information Agree on a new finance goal by 2025 For the Adaptation Fund, decisions on exclusivity and sources of funding need to be made. Funding for the LDCF –currently has a backlog of 17 pipelined projects because the demand is more than the resources available. The LDC Group will expect pledges to the LDCF to come out of the high-level on finance at COP24. Parties must adopt decisions on upfront information to be provided on public finance provided and vehicles for reporting to ensure predictability (Article 9.5); and develop “financial accounting modalities” to provide transparency (Article 9.7) The Paris Agreement agreed to review the USD 100 billion/year target by 2025 – a decision to initiate a process with a clear roadmap to set up the new collective quantified finance goal must be agreed.

Key Issues to be finalised at COP24: Loss and Damage How and where loss and damage should be addressed in the Rulebook? Enhanced transparency framework (risk of losing any reference to L&D- no communication mechanism) Global stocktake requires a stand alone workstream on L&D allowing clear and separate inputs and outputs on the issue to the GST How will financial support to address loss and damage be provided?

Key Issues to be finalised at COP24: Other Issues Adaptation: What is the minimum set of ‘common sets of elements’ needed? Transparency: How to address flexibilities for LDCs in the guidelines? Global Stocktake: What should be the recommendations on how to close gaps in light of equity and best available science Facilitating implementation and promoting compliance: What will be the triggers for the committee and what measures can the committee take? Market and non-market approaches: How to preserve special consideration for LDCs to access the mechanisms while ensuring environmental integrity

Keys to Success Robust, comprehensive, precise rules Rules are binding to the most extent possible Common rules with flexibilities based on national circumstances and capabilities Timely and adequate support to developing countries, in particular LDCs Interlinkages ensure coherency and effectiveness Application of rules synchronised Keys to Success

LDC Initiatives LDC Renewable Energy and Energy Efficiency Initiative for Sustainable Development (LDC REEEI): sets out a strategic framework for driving transformative change across sectors and a platform for sharing experiences and disseminating knowledge to reach universal energy access and accelerate the transition to RE and energy efficiency LDC Initiative for Effective Adaptation and Resilience (LIFE-AR): aims to develop effective longer-term climate adaptation interventions and investments for resilient development, informing the development of adaptation plans out to 2050, by articulating a coherent vision for effective climate adaptation for resilient development. LDC Universities Consortium on Climate Change (LUCCC): a South-South Consortium of 10 Universities from LDCs to enhance knowledge on climate change through climate capacity building, with a focus on adaptation measures, education and research. link it to LDCs preparedness for PA implementation We aim to further work on these initiatives and take them to the next level (launching/ fund raising etc) at the COP 24.