COP30 Evening Summary – November 15

Day 5: Saturday, 15 November

Prepared by the COP30 Communications Team

Thematic Focus Areas: Energy, Industry, Transport, Trade, Finance, Carbon Markets, Non-CO2 Gases

Summary Recap:

Building the Financial and Ethical Foundations for a Just Transition

Day 6 at COP30 underscored that a fairer and faster climate transition depends on aligning financial systems, ethical frameworks, and global cooperation. The day showcased how countries, investors, people, and communities are beginning to build the enabling environment needed to unlock capital at scale while grounding climate action in equity and shared responsibility.

Finance took center stage with reforms designed to mobilize and direct capital to the frontline of the climate crisis. The launch of the Principles for Taxonomy Interoperability  — developed with SB COP, the IDFC, and finance ministries — advanced global interoperability of sustainable finance standards, a critical step toward mobilizing the $1.3 trillion annually outlined in the Baku to Belém Roadmap. Asset owners representing nearly $10 trillion met this week to work with climate scientists, MDBs, and governments to align on actions including producing recommendations for Circle of Finance Ministers report, and for implementation through the Baku to Belém Roadmap, emphasizing the need to focus on hard to abate sectors and EMDEs.

Brazil and the Green Climate Fund (GCF) strengthened investment architecture through new Country Platforms and a Country Platform Hub, enhancing coordinated planning and scaling national pathways for climate and nature finance. The expansion of the Premium Flyers Solidarity Coalition and new commitments to solidarity levies signaled rising momentum behind innovative, equitable revenue streams for adaptation and loss-and-damage.

In Belém today, thousands gathered to call for climate justice, protection of territories and stronger government action from governments meeting at COP30 in the Marcha Mundial pelo Clima, organized by the People’s Summit and joined by Indigenous peoples, youth, social movements, traditional communities, and workers.

Together, today’s outcomes show COP30 building the financial and ethical foundations needed to accelerate implementation and deliver a people-centered, real-economy transition.

Notable Actions and Outcomes:

• Action Agenda:
  
  - Advancing Solidarity Levies as a Cornerstone of Non-Debt Climate Finance
  ▪ Leaders at COP30 reaffirmed the growing global momentum behind solidarity levies as an essential tool for generating fair, more predictable, and debt-averting climate finance. The event highlighted a deepening commitment to the Premium Flyers Solidarity Coalition and the release of a new technical report outlining the significant revenue potential of levies across high-emitting, undertaxed sectors such as financial transactions, aviation, shipping, and cryptocurrencies.
  ▪ Representatives from governments, multilateral institutions, and expert groups underscored that premium-flyer levies show immense revenue potential, embodying the polluter-pays principle mobilizing concessional resources for adaptation, resilience, and loss-and-damage—particularly for vulnerable countries facing mounting climate impacts.
  ▪ The Coalition now includes Benin, Djibouti, France, Kenya, Nigeria, Sierra Leone, Somalia, South Sudan, and Spain and welcomes Antigua and Barbuda, Brazil, Fiji, and Vanuatu as observers, underscoring the growing commitment to this shared approach, while the event featured strong calls for more countries to join the coalition before the end of COP30.
  
  “The launch of the Premium Flyers Solidarity Coalition proves that solidarity levies can move from ideas to reality. This is only the first step. Now I call on more countries to join us at COP30 and turn this momentum into lasting global change.”
  - Laurence Tubiana, COP30 Special Envoy to Europe; Co-Lead, Global Solidarity Levies Task Force
  
  
  - Finance Leaders Chart Pathways to Operationalize Baku to Belém Roadmap, Deliver the 1.3T Vision
  ▪ Today’s high-level ministerial convened climate leaders, ministries of finance, MDBs, climate funds, and private-sector leaders on a shared pathway to unlock the $1.3 trillion annually outlined in the Baku to Belém Roadmap. Leaders including the Presidents of COP30 and COP29, UNFCCC Executive Secretary Simon Stiell, and COP30 CEO emphasized that delivering this ambition will hinge on coordinated reforms across concessional finance, MDB mandates, domestic investment frameworks, innovative financial instruments, and strengthened regulatory ecosystems—reflecting the Report’s five priority action areas. Through a results-oriented discussion, participants identified concrete implementation milestones for Brazil’s COP30 Presidency, positioning the Roadmap as a catalytic blueprint to rapidly scale climate finance with greater speed, scale, and impact. By embedding the Circle’s recommendations into institutional and market practices, the event signaled a clear shift from vision to delivery—using the Baku to Belém Roadmap as a unifying vehicle to mobilize the blended, public, and private capital required to meet global climate goals.
  
  “This is the beginning of an era of truth in climate finance,” said Corrêa do Lago. “To deliver the Paris Agreement faster, climate action must be embedded in real economic and financial reform. With the 5Rs, the Roadmap turns scientific urgency into a practical plan for global cooperation and results.”
  - Ambassador André Corrêa do Lago, COP30 President
  
  
  - 14 New Countries Platforms Announced, Launch of Country Platform Hub
  ▪ At COP30, in a major step towards aligning global support and investments with national climate priorities, 13 countries released plans to develop national platforms through the Green Climate Fund (GCF) readiness program. The event also saw the announcement of a Country Platform Hub, integrating the COP30 Plan to Accelerate Solutions (PAS) to connect countries to technical assistance, knowledge, and funding, ensuring that global support systems effectively respond to the needs of countries, rather than duplicating efforts.
  ▪ Country platforms support the implementation of the recommendations contained in the Report of the COP30 Circle of Finance Ministers. The announcements of the establishment of Platforms were made by Cambodia, Colombia, Dominican Republic, India, Kazakhstan, Lesotho, Mongolia, Nigeria, Oman, Panama, Rwanda, South Africa, and Togo.
  
  “I commend Brazil and Uganda for convening the Country Platform Hub. The Green Climate Fund (GCF) looks forward to exploring opportunities to support this effort. National platforms represent a strategic opportunity for countries to bring together government, the private sector, and development partners around a process to identify priority policies and investments, as well as align public and private, international, and domestic financing.”
  - Mafalda Duarte, Executive Director of the Green Climate Fund (GCF)
  
  
  - First Ever Asset Owners Develop Recommendations
  ▪ On Wednesday, COP30 convened the first-ever Asset Owners Summit as part of the official COP agenda. It hosted around 30 leading global asset owners — including pension funds, insurers, endowments, and sovereign investors — representing ~$10 trillion in assets under management. The session focused on climate solutions including hard to abate sectors and EMDE. As outcomes of the meeting, asset owners proposed establishing a standing COP Asset Owner Summit and sent the signal that they are committed to scaling partnership with the public sector towards the $1T required to meet the New Collective Quantifiable Goal (NCQG).
  
  - Taxonomy Roadmap Initiative to Advance Sustainable Finance Taxonomy Interoperability
  ▪ Day 6 saw results of the Roadmap for Advancing Interoperability and Comparability of Sustainable Finance Taxonomies (Taxonomy Roadmap Initiative) - launched at COP29 - in collaboration with SB COP and the International Development Finance Club (IDFC). The roadmap represents a unified effort between governments, private sector, and finance sector to standardize taxonomies and data, a key challenge to scaling finance. The session presented the Principles for Taxonomy Interoperability - a first step towards a common language in climate finance - and the Sustainable Finance Taxonomy Mapper - a digital tool that enables users to compare, navigate, and analyze sustainable finance taxonomies across jurisdictions.
  
  - Open Coalition for Compliance Carbon Markets
  ▪ Representatives from governments convened a Ministerial Roundtable to advance the Open Coalition on Compliance Carbon Markets, now with 18 endorsements. It was highlighted that strengthened international cooperation is essential to enhance the transparency, integrity, and effectiveness of compliance carbon markets. The discussion focused on cooperation around MRV systems, carbon-accounting methodologies, and the potential use of high-integrity offsets. Delegations welcomed the Coalition’s expansion and reaffirmed their commitment to coordinated, transparent, and environmentally robust carbon-market governance. The list of endorsing countries include: ⁠Brazil, ⁠China, European Union, UK, ⁠Canada, ⁠Chile, Germany, Mexico, Armenia, Zambia, France, Ruanda, Andorra, Guine, New Zealand, Monaco, Singapore, Norway.
  
  - COP30 President Opens Work of the Integrated Forum on Climate Change and Trade (IFCCT)
  ▪ Today, the COP30 President formally opened the work of the Integrated Forum on Climate Change and Trade, launched at the Belém Climate Summit on 7 November as a key component of the COP30 Action Agenda.
  ▪ The opening session included vice-ministers and heads of delegations from China, UK, Australia, and other countries, in addition to the World Trade Organization (WTO), the International Chamber of Commerce (ICC), and other organizations from civil society and the private sector. The audience voiced strong support for the initiative as a platform for collaborating on concrete solutions to reduce costs for exporters and enhance the role of trade in climate action. The Forum will respond directly to the first Global Stocktake by fostering cooperation on a supportive and open international economic system, capable of aligning trade and climate action in mutually reinforcing ways.
  
  - Declaration on Economic Cost of Climate Inaction Event on Taxonomy - NGFS and BCB High Level Event on Finance for Sustainability 
  ▪ The Network for Greening the Financial System (NGFS) released the Declaration on the Economic Cost of Climate Inaction, warning of the escalating macroeconomic and financial risks associated with delayed climate action. Representing 146 central banks and supervisors, the NGFS emphasized that climate impacts now pose imminent threats to financial stability and called on financial institutions to integrate climate and nature-related risks through robust scenario analysis, disclosure standards, and transition planning.
  
  “Our latest scenarios show that climate change is no longer a risk on the horizon, it is an imminent danger…A whole-of-economy effort is needed to avoid severe economic disruptions and ensure financial stability.”
  - Sabine Mauderer, Chair of the NGFS, First Deputy Governor of the Deutsche Bundesbank
  
  “Effectively managing climate risks is not just an environmental issue, it is integral for building financial resilience. By doing so, we can contribute to a smooth transition towards a sustainable economy.”
  - Fundi Tshazibana, Vice-Chair of the NGFS, Deputy Governor of the South African Reserve Bank
  
  
  - Big Opportunity to Cut Methane and Other Non-Co2 Gases
  ▪ The Super Pollutant Country Action Accelerator, announced during the Belém Leaders Summit, progressed through the launch of a Plan to Accelerate Solutions (PAS), helping 30 developing countries cut dangerous super pollutant gases by 2030. The Accelerator begins with $25 million for seven pioneer countries: Brazil, Cambodia, Kazakhstan, South Africa, Indonesia, Nigeria, Mexico. Cutting these pollutants is one of the fastest ways to simultaneously protect climate stability, public health, and food supplies.
  
  “As we reach the end of week 1, we’ve seen a marked shift from ambition to execution under the Action Agenda, as governments, business, local and regional governments, indigenous groups and civil society harnessed COP30’s convening power to drive real-world solutions for a more resilient, low-carbon economy. 
  
  114 Plans to Accelerate Solutions — developed by coalitions across 30 Activation Groups — have been published and are now live on the UNFCCC website. These bring together existing initiatives under one umbrella to deliver specific objectives under the 6 axes.
  
  They  detail how businesses, investors, and communities are working together to turn ambition into implementation by pulling the levers of supply, demand, finance and policy. And this week, partners have announced a set of immediate actions to accelerate the implementation of those plans.”
  - Dan Ioschpe, COP30 High-Level Champion
  
  “So far, there is a constructive atmosphere in Belém. It is positive that the presidency is maintaining a roadmap for the phaseout of fossil fuels. Science clearly shows that we must reduce emissions by 5% every year, from now on, to have any chance of minimizing overshoot and avoiding the destruction of life-support systems for billions of people.”  - Carlos Nobre, renowned Brazilian scientist and member of the Planetary Guardians movement

• Negotiations:
  
  - Parties have formally moved draft decisions from the Subsidiary Bodies into the main negotiating tracks, marking the transition from technical to political negotiations, paving the way for final decisions later at the end of week 2

• Global Mobilization:
  - Brazil Showcases Nationwide Mobilization to Implement the Forest Code:
  ▪ In the Green Zone, Brazil’s federal and state governments, alongside the COP30 Presidency, presented the Mutirões do Código Florestal, a national effort to accelerate on-the-ground implementation of Brazil’s Forest Code across rural properties. The initiative offers technical guidance, on-site support for registration and correction in the Rural Environmental Registry, delivery of validated registrations, and orientations for advancing Environmental Regularization Programs. Speakers underscored how strengthening Forest Code compliance enhances environmental governance, supports sustainable rural production, and reinforces Brazil’s contributions to climate goals.
  
  - Indigenous Leaders Call on Climate Negotiators to Strengthen Forest Protection:
  ▪ In the Blue Zone, Chief Raoni and the Mẽbêngôkre delegation of the Raoni Institute held a candid dialogue with climate negotiators in the session “Standing Forests, Agreements in Practice.” The conversation centered ancestral knowledge and called out the disconnect between negotiation rooms and the realities faced by Indigenous communities who protect and steward the forest. Speakers stressed that commitments on emissions, carbon markets, and climate finance hold meaning only when they translate into the protection of standing forests and the recognition of Indigenous leadership, without which climate action remains incomplete.

What to Expect on Day 6:

Tomorrow is Rest Day. We will resume our morning brief and evening summary again on Monday.

For More Information:

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UNFCCC/COP30 Daily Events Schedule:
● COP 30 - Overview Schedule
● Belém Climate Summit Documents
● COP 30 - Main conference schedule
● Global Climate Action at COP 30 | UNFCCC
● Climate High-Level Champions Website
● Top of the COP Newsletter
● 2025 Action Agenda Granary of Solutions