Jakarta – The COP30 President-Designate, André Aranha Corrêa do Lago, said in an open letter on March 10, that the “Baku to Belém Roadmap to 1.3T,” which aims to mobilise at least USD 1.3 trillion annually by 2035 for climate action in developing countries “must serve as a fulcrum for leveraging finance to low-carbon and climate-resilience pathways in developing countries”.
The roadmap builds on the outcomes of COP28 in Dubai and COP29 in Baku, which reinforced global commitments to climate finance and action. It seeks to align international financial flows, integrate digital and climate transitions, and reform multilateral financial institutions to support low-carbon and climate-resilient pathways effectively.
Corrêa do Lago said that COP30, set to take place in Belém, Brazil, in November 2025, will be a pivotal moment in the fight against climate change. With 2024 recorded as the hottest year in history and the Amazon at risk of reaching a tipping point, he called for urgent, collective action to ensure climate finance is accessible, predictable, and effective.
“Now, not only do we hear about climate risks, but we also live the climate urgency. Climate change is no longer contained in science and international law. It has arrived at our doorsteps, reaching our ecosystems, cities, and daily lives,” he stated.
The COP30 presidency pushes for bold reforms in multilateral development banks (MDBs) and international financial institutions (IFIs), ensuring they evolve into more effective entities that structurally support ambitious climate action. The roadmap will also address high capital costs, limited fiscal space, and barriers to climate finance access faced by developing nations.
The announcement signals a decisive shift from negotiations to implementation, with COP30 poised to be a milestone in climate finance, global cooperation, and just transitions. The world will watch Belém become the epicenter of global climate action in November. (Hartatik/nsh)
Banner photo: COP30 President, André Aranha Corrêa do Lago (source: IISD/ENB)
