Taking shape

COP30 has been dominated by one recurring theme: the global climate-finance system is no longer fit for purpose, and countries need more than new pledges.

In this context, the launch of the Country Platforms Hub stands out as one of the summit’s most strategic developments. The Hub is designed to help nations coordinate climate investments, unlock technical assistance, and navigate the increasingly complex landscape of global funds.

Backed by nearly USD 4 million in seed financing and governed with a developing-country majority, it aims to reduce fragmentation and strengthen national ownership of projects.

At the same time, multilateral development banks reaffirmed their commitment to expanding climate funding, especially for adaptation.

Trillions, Bonds, and Forests 🌱

One of the most ambitious initiatives unveiled in Belém is the Baku-to-Belém Roadmap, which targets the mobilization of USD 1.3 trillion per year by 2035 for developing countries. The roadmap blends public grants, concessional loans, and private investment, while calling for financial-system reforms that would make climate capital more accessible and equitable. If achieved, it would mark the largest coordinated expansion of climate finance in history.

Innovation also took center stage with the launch of the Systematic Observation Impact Bond, a new instrument designed to close major gaps in global weather and climate data.

Forests, too, received a major boost. The Tropical Forests Forever Facility (TFFF) secured more than USD 5.5 billion in pledges and is moving toward a USD 10 billion target. Crucially, at least 20% of funds will go directly to Indigenous and traditional communities, anchoring forest preservation in justice and local stewardship.

The Push for Equity

Developing nations used COP30 to highlight a persistent imbalance: adaptation finance remains dramatically underfunded. Their call to triple adaptation finance - to around USD 120 billion annually by 2030 - reflects the escalating urgency felt across climate-vulnerable regions. Ministers described access to finance as a matter of “survival,” urging donors to shift toward predictable, grant-based, concessional funding rather than debt-creating instruments.

In parallel, countries like India stressed that a just transition hinges on fairness: without equitable financing, decarbonization risks deepening global inequality. COP30’s finance agenda, therefore, marks a turning point - an attempt to reshape not only how much money flows, but how justly and effectively it is delivered.

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