COP30 Presidency Unveils Report Detailing Pathways to Mobilize Over $1.3 Trillion in Annual Climate Finance for Developing Nations
The COP30 Presidency has released a new report, 'Implementing the Baku to Belém Roadmap to 1.3T,' which outlines concrete financial pathways and policy interventions aimed at scaling external climate finance for developing countries to between US$1.27 and US$1.41 trillion annually by 2035. This report builds on the Baku to Belém Roadmap to 1.3T, which was jointly presented by the COP29 and COP30 Presidencies in November 2025. The 2026 report identifies six crucial sources for achieving this financial goal: concessional finance, private investments, South-South cooperation, Special Drawing Rights channeling, innovative mechanisms, and carbon markets. The report highlights that under a business-as-usual scenario, international climate finance would only reach US$458 to US$461 billion per year by 2035, underscoring the need for significant action from governments, financial institutions, and investors. To facilitate monitoring and implementation, the report introduces the Climate Finance Action Compass and th...
