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The authors of this briefing, which was endorsed by 36 civil society organisations, emphasised the need for the New Collective Quantified Goal on Climate Finance (NCQG) target to reach at least US$1 trillion annually in grants and grant-equivalent finance. This is essential for countries to deliver last year’s commitment to transition away from fossil fuels. This underscores the importance of setting robust financial targets to facilitate the implementation of national climate plans (NDCs), which aim to phase out fossil fuels by 2025. The briefing further provides the key findings, including that the NCQG must consider Loss and Damage in addition to mitigation and adaptation.