Countries show support in first meeting on the implementation of the Baku to Belém Roadmap at COP30

During the meeting, representatives from developed and developing countries, development banks, investors, and civil society organizations discussed pathways to achieve the goal of mobilizing USD 1.3 trillion by 2035

By Laura Marques and Bianca Leão / COP30

During the first meeting on the Baku to Belém Roadmap, representatives from developed and developing countries, development banks, financial institutions, and civil society suggested ways to advance the plan prepared jointly by the COP30 and COP29 Presidencies. The document outlines the pathway for the world to mobilize USD 1.3 trillion in climate finance for developing countries by 2035. The discussion took place in the COP30 Blue Zone on Saturday, 15 November.

The COP Presidents responsible for drafting the Roadmap emphasized that cooperation and political will are essential to put the plan into action. COP30 President, Ambassador André Corrêa do Lago, expressed optimism: “We will continue working to make the USD 1.3 trillion a reality.”

COP30 President also noted that more than 200 contributions were received from governments, the financial sector, civil society, academia, and other stakeholders for the preparation of the document, including the report of the COP30 Circle of Finance Ministers, led by Brazil’s Minister of Finance, Fernando Haddad.

COP30 CEO Ana Toni stressed that the report demonstrates that the financial resources needed to implement climate action already exist. “What we lack is the ability to redirect these resources at the scale and speed required to tackle the climate crisis. The purpose of the Roadmap is clear: to build, through cooperation, a functional system for climate finance. It is not necessarily about creating new instruments, but about creating better finance—finance that is predictable, accessible, available, and fair,” she emphasized.

Ana Toni highlighted that the emergence of initiatives such as Bridgetown, 4P, Finance in Common, the African Climate Summit, the G20 TF-CLIMA, and the COP30 Circle of Finance Ministers, among others, signals a global political movement to reform international financial structures and accelerate the response to climate change.

The Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), Simon Stiell, pointed out that the target of USD 1.3 trillion is ambitious but achievable. He underscored that the recent effects of Hurricane Melissa in Central America illustrated the cost of inaction. “Every cent invested in prevention saves money in the future. Progress in climate investments is not happening fast enough. We need to move from ideas to results,” he warned.

Luiz de Andrade Filho, who leads finance issues under the COP30 Presidency, stated that there is goodwill among the Parties to the Paris Agreement to work together on the implementation of the Roadmap.

Elmaddin Mehdiyev, representing the COP29 Presidency, noted that the next steps for the Roadmap will include detailing actions to operationalize the proposed measures.

Participants who spoke during the meeting included representatives from the governments of France, Japan, Kenya, Norway, China, Canada, the United Kingdom, and the European Union.