COP30 Presidency Outlines Pathways to Mobilize Over $1.3 Trillion Annually in Climate Finance for Developing Countries
The COP30 Presidency has released a report titled 'Implementing the Baku to Belém Roadmap to 1.3T,' which details concrete financial pathways and policy interventions capable of scaling external climate finance for developing countries to between US$1.27 and US$1.41 trillion annually by 2035. This report builds upon the Baku to Belém Roadmap to 1.3T, jointly presented by the COP29 and COP30 Presidencies in November 2025. The 2026 report identifies six key sources for achieving this target: concessional finance, private investments, South-South cooperation, Special Drawing Rights channeling, innovative mechanisms, and carbon markets. Under a business-as-usual scenario, international climate finance would only reach US$458 to US$461 billion per year by 2035, highlighting a significant gap that requires action from governments, financial institutions, and investors. The report also introduces the 5x5 Implementation Framework and the Climate Finance Action Compass to monitor progress and coordinate efforts acr...