Global Climate Finance Plan Aims for $1.3 Trillion Annually by 2035 

Azerbaijan COP29 Presidency and Brazil COP30 Presidency have introduced the Baku to Belém Roadmap. The plan is focused on raising at least one point three trillion US dollars every year in climate finance for developing countries by 2035COP29 President Mukhtar Babayev and COP30 President André Corrêa do Lago said the money is available but the world needs stronger action to move it where it is needed most.

They said governments banks investors and development institutions must all play a bigger role if climate finance is going to match the scale of the crisis

Why The Roadmap Matters

The roadmap comes at an important time for global climate action. Developing countries need more support for clean energy climate adaptation, food systems nature protection and recovery from climate damage. Many countries are already facing floods heatwaves rising sea levels drought and other climate pressures

For them climate finance is not only about future planning. It is about protecting people’s jobs, homes, farms and national economies today. The Baku to Belém Roadmap gives countries a clearer path for turning climate promises into real funding and practical action

The Baku Finance Goal

The roadmap was prepared under the Baku Finance Goal. Parties asked the COP29 and COP30 Presidencies to deliver a report that could help shape the next stage of climate finance

The timing is important because the world is marking ten years since the Paris Agreement. That agreement created a global promise to limit climate damage and speed up action. Now the challenge is to make sure countries have the money to deliver on those promises. Babayev said the world has a rare chance to turn climate commitments into real development. He said climate action can protect the planet while also creating jobs strengthening communities and supporting prosperity for all

The Five Priority Areas

The roadmap is built around five main action areas known as the 5Rs. The first area is replenishing grants, concessional finance and low cost capital. The second area is rebalancing fiscal space and debt sustainability. The third area is rechanneling private finance and making capital more affordable

The fourth area is revamping capacity and coordination so countries can build larger climate portfolios

The fifth area is reshaping financial systems so capital flows more fairly to countries that need it most. Together these areas are meant to help climate finance reach at least one point three trillion US dollars a year by 2035. They also aim to improve access for developing countries that often struggle to receive funding quickly and fairly

Focus On Real Climate Needs

The roadmap does not only talk about large finance targets. It also focuses on where the money should go. Developing countries need support for adaptation loss and damage clean energy nature food systems and just transitions

This matters because climate finance must reach real communities and real projects. Money should help build stronger infrastructure, protect farms, improve energy access, support workers and reduce climate risks. Without better access to finance many countries will find it harder to meet their climate goals

Reforming The Global Finance System

The roadmap also reflects a wider global push to reform the international financial system. Many leaders believe the current system does not work well enough for countries facing climate pressure debt problems and development needs at the same time. The COVID 19 pandemic made this issue even clearer. Many developing economies were left with less fiscal space and higher debt while climate risks continued to grow. The roadmap brings together ideas from political, financial, economic and social leaders around the world. Its message is clear. Climate finance must become faster fairer and easier to access

Correa Do Lago Calls For Real Reform

André Corrêa do Lago said the roadmap marks the beginning of a new era of truth in climate finance. He said climate action must become part of real economic and financial reform if the world wants to deliver the Paris Agreement faster. His message is that climate finance cannot stay separate from the wider economy. It must be linked with banking investment, public budgets, trade development and global cooperation. The 5Rs are meant to turn scientific warnings into a practical plan that governments and financial institutions can follow

Early Actions From 2026 To 2028

The Presidencies also proposed early actions for the years 2026 to 2028. These steps are meant to start implementation and build trust. The early actions include improving data, strengthening transparency, pushing reform debates and improving cooperation between countries and finance institutions. These steps can help show what is possible before 2035. They can also help developing countries prepare stronger climate plans and attract better funding

Simon Stiell Supports The Roadmap

Simon Stiell, Executive Secretary of the UNFCCC said the roadmap shows how countries can work together to scale climate finance toward one point three trillion US dollars a year by 2035. He said this new era must bring the formal climate process closer to the real economy. He also said better climate finance will help speed up implementation and bring benefits to billions of people.His comments show that climate finance is now seen as one of the most important parts of global climate action. Without bigger and better finance many climate promises will remain difficult to deliver

The Money Exists But Action Is Needed

The final message of the roadmap is direct. The resources exist. The science is clear. The moral responsibility is strong. What is still missing is the will to act at the speed and scale required. The report says this decade must become the moment when ambition turns into action. For developing countries the Baku to Belém Roadmap could become an important step toward fairer climate support.For the world it is a reminder that climate finance is no longer only a technical issue. It is now central to economic stability human safety and global cooperation

Discover how COP29 and COP30 are reshaping global climate finance goals.