COP 30 live updates archive
The Baku to Belém Roadmap is a powerful signal of confidence – $1.3 trillion annually needed by 2035 is both achievable and essential
Speaking at COP30 this afternoon, UN Climate Change Executive Secretary Simon Stiell said the world is beginning a new chapter of climate cooperation: bringing our process closer to the real economy, with fair and accessible finance that turns plans into progress.
He said the Circle of Finance Ministers have provided invaluable leadership and insight – grounding the Baku to Belém Roadmap in the real-world realities of economic management and national budgets.
“That roadmap is a powerful signal of confidence – that the $1.3 trillion annual flow of climate finance needed by 2035 is both achievable as well as essential and offers concrete examples of what can work,” said Stiell. “Without this finance, climate action won’t happen. It’s only finance at this scale that can equally turn the tide on implementation as well as ensure climate action continues to be the road that makes business sense.”
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Getting climate finance flowing at COP30
At COP30, we’re reminded not just of what’s at stake, but of what’s possible.
And at the heart of that possibility is climate finance. More than money, it’s the bridge between ambition and action – helping countries, communities, and ecosystems withstand growing climate shocks and transition to low-emissions economies.
Here in Belém, Multilateral Development Banks have united in a call to action for resilience and delivery. They are part of a wider ecosystem of governments, climate funds, private investors, and philanthropic partners working to strengthen livelihoods, create jobs, and support climate-impacted communities and countries.
An important focus this year is the Baku to Belém Roadmap – a practical plan to scale climate finance for developing countries to USD 1.3 trillion annually by 2035. It offers something rare in global climate action: a coordinated path from ambition to implementation.
It shows how climate finance can be mobilised, through grants, debt relief, innovative financial instruments, and better access to low-cost capital.
The goal is to unlock investment and make it more accessible, encourage private finance, and channel resources to where they are needed most.
Climate finance is not charity. It is an investment in resilient economies, stable supply chains, and shared prosperity.
Mobilizing and scaling up climate finance hugely benefits every nation. It’s a vital investment in resilient global supply chains, supporting low-inflation growth, food security, and a stronger, more productive global economy that underpins peace and prosperity.
Challenges remain – uneven access and tight budgets – but the solutions are known, and the momentum is real.
COP30 is the moment to transition from plans to tangible outcomes, ensuring that climate finance delivers real impact for people and nature.