Programme / session 5B

From Baku to Belém: how can COP30 unlock adaptation finance?

14:30 – 16:00
Challenge session
This session will gather finance, insurance and private sector leaders to inform the Baku to Belém Roadmap, a strategic plan to mobilise $1.3 trillion annually in climate finance by 2035. Discussions will support the COP30 Circle of Finance Ministers and focus on key priorities to scale investment in developing countries.
Head and shoulders photo of Ivan Oliveira.
Ivan Oliveira
Deputy secretary for sustainable development finance
Ministry of Finance, Brazil
Head and shoulders photo of Maria Netto.
Maria Netto
Executive director
Institute for Climate and Society
Head and shoulders photo of Tom Mitchell.
Tom Mitchell
Executive director
International Institute for Environment and Development
Head and shoulders photo of Nicola Ranger.
Nicola Ranger
Executive director
Earth Capital Nexus, LSE
Head and shoulders photo of Thomas Tayler.
Thomas Tayler
Head of climate finance
Aviva Investors
Head and shoulders photo of Gaia Larsen.
Gaia Larsen
Director, climate finance access, finance center
WRI

This high-level convening will gather input from financial, insurance and private sector leaders to shape the Roadmap Baku to Belém report to deliver the US$1.3 trillion goal of climate finance.

In response to growing calls for urgent action, the COP29 and COP30 presidencies are advancing the Baku to Belém Roadmap to $1.3T, a strategic plan to scale climate finance to developing countries and meet the New Collective Quantified Goal (NCQG) of $1.3 trillion annually by 2035. The roadmap will outline reforms to multilateral finance, improve access, enhance domestic capacity and unlock large-scale investment opportunities.

Supporting this effort is the COP30 Circle of Finance Ministers, led by minister Fernando Haddad and convened by the COP30 presidency. This platform will bring finance ministers together for structured dialogue throughout 2025, culminating in a report that will inform the final roadmap.

The circle's agenda focuses on five priorities: reforming multilateral development banks, expanding concessional finance, creating country platforms, developing innovative instruments and strengthening regulatory frameworks.