Ahead of the Leaders' Summit and the annual UN climate talks (COP30) in Belem, Azerbaijan and Brazil have released the much-awaited Baku to Belem $1.3 trillion Roadmap.
The COP29 (Azerbaijan) and COP30 (Brazil) presidencies had been tasked at Baku with preparing a plan to mobilise at least $1.3 trillion annually by 2035. The Baku to Belem roadmap focuses on strengthening existing sources and mechanisms of climate finance rather than proposing new ones. As the report states, it aims to "strengthen supply, make demand more strategic, and accelerate access and transparency." The plan lays out an integrated approach to boost finance for climate action and transition.
It identifies five key action fronts - Replenishing, Rebalancing, Rechanneling, Revamping, and Reshaping (5Rs) - designed to turn scientific warnings into a global blueprint for cooperation and tangible outcomes.
"The roadmap correctly identifies the symptoms of our broken financial system. However, it offers a band-aid for a mortal wound and fundamentally fails to prescribe a cure," said Harjeet Singh, climate activist and Founding Director of the Satat Sampada Climate Foundation.
The document lists concrete steps under each of the five action fronts, addressing the diverse needs of countries. It outlines short-term measures for the next two to three years as well as longer-term actions.
India's long-standing concern over the need to expand public funding remains unresolved. However, the roadmap echoes India's position that $300 billion should be seen as a floor, and underscores the importance of affordable public finance and risk-sharing tools to lower the cost of capital and scale up investments.
The Baku to Belem Roadmap is not a negotiated text but a joint document prepared by the COP29 and COP30 presidencies, based on consultations with countries, experts, think tanks, and financial institutions.
The COP29 (Azerbaijan) and COP30 (Brazil) presidencies had been tasked at Baku with preparing a plan to mobilise at least $1.3 trillion annually by 2035. The Baku to Belem roadmap focuses on strengthening existing sources and mechanisms of climate finance rather than proposing new ones. As the report states, it aims to "strengthen supply, make demand more strategic, and accelerate access and transparency." The plan lays out an integrated approach to boost finance for climate action and transition.
It identifies five key action fronts - Replenishing, Rebalancing, Rechanneling, Revamping, and Reshaping (5Rs) - designed to turn scientific warnings into a global blueprint for cooperation and tangible outcomes.
"The roadmap correctly identifies the symptoms of our broken financial system. However, it offers a band-aid for a mortal wound and fundamentally fails to prescribe a cure," said Harjeet Singh, climate activist and Founding Director of the Satat Sampada Climate Foundation.
The document lists concrete steps under each of the five action fronts, addressing the diverse needs of countries. It outlines short-term measures for the next two to three years as well as longer-term actions.
India's long-standing concern over the need to expand public funding remains unresolved. However, the roadmap echoes India's position that $300 billion should be seen as a floor, and underscores the importance of affordable public finance and risk-sharing tools to lower the cost of capital and scale up investments.
The Baku to Belem Roadmap is not a negotiated text but a joint document prepared by the COP29 and COP30 presidencies, based on consultations with countries, experts, think tanks, and financial institutions.
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