Platform continues independent work that contributed to the Baku to Belém Roadmap to 1.3T
COP30 President André Corrêa do Lago launched on Wednesday (24/6) at the London School of Economics and Political Science (LSE), in London, the Economics of Climate Organisation (ECO) — a further step towards bringing economic research closer to global climate policymaking.
ECO is an evolution of the Economy, Finance and Climate Council, established by the COP30 Presidency in 2025 to support work on climate finance. The group produced a document with ideas to enrich the debate on economics, finance and climate, delivered to the COP30 Presidency in September last year as a contribution to the construction of the Baku to Belém Roadmap to 1.3T.
ECO makes permanent the effort to strengthen the quality of debate on the economic and financial dimension of climate response policies, and will initially be formed by researchers from LSE itself, the International Growth Centre (United Kingdom), the Massachusetts Institute of Technology (USA), PUC-Rio (Brazil), and the universities of Chicago, Columbia, and Yale. Its launch at LSE during London Climate Action Week brought together some of the leading economists working on climate, energy, forests, carbon markets, and climate finance.
The initiative reinforces the “Global Mutirão: Uniting humanity in a global mobilization against climate change” decision, adopted by consensus at the close of COP30, which underscores the urgent need to scale up measures to achieve at least US$ 1.3 trillion in climate finance for developing countries by 2035.
“It is my immense pleasure and honor to formally launch the Economics of Climate Organisation, ECO, born from the recognition that policymakers need stronger economic evidence and closer engagement with researchers to meet the climate challenge,” the COP30 President said.
“How can we embolden all the actors that are not countries? And how can we involve them to find the solutions that governments — with their enormous limitations and obvious with financial challenges — are unable to find? We used to think that climate change was about negotiations. Now, it is about implementation,” the diplomat added.
Beyond the ECO launch, the COP30 Presidency participated in other sessions and events on climate finance in London this week to encourage implementation of the Baku to Belém Roadmap to 1.3T, launched in November 2025 and developed in collaboration with the COP29 Presidency.
The roadmap contains more than 70 recommendations, based on five priority action fronts through 2035, known as the 5Rs:
Replenishing — Grants, concessional finance and low-cost capital;
Rebalancing — Fiscal space and debt sustainability;
Rechanneling — Transformative private finance and cost of capital;
Revamping — Capacity and coordination for scaled climate portfolios; and
Reshaping — Systems and structures for equitable capital flows.
By the end of the year, the COP30 Presidency aims to advance implementation of the roadmap. In addition to engagement with key actors, three other initiatives are underway: monitoring the progress of finance flows to developing countries, analyzing scale, speed, reach and impact on climate action; strengthening the analytical foundations on projected public and private finance sources; and aligning climate finance with national priorities, connecting Nationally Determined Contributions (NDCs) and their greenhouse gas mitigation objectives with National Adaptation Plans (NAPs).
“Climate change transforms lives, reshapes geopolitics, and strains economies. ECO will bring together leading minds to guide the necessary transformations, ensuring they are fairer, reduce inequalities, and strengthen governance,” the COP30 President said.
Economics of Climate Organisation
