COP30: Chief of COP29 urges global action to meet $1.3 trillion climate goal PHOTO

At the ongoing COP30 climate conference in Belém, Brazil, a high-level session titled “Baku to Belém Roadmap” was held, organised by the presidencies of COP29 and COP30. During the session, COP29 President Mukhtar Babayev called for achieving the climate finance target of $1.3 trillion.

Babayev, speaking on behalf of the President of Azerbaijan on climate issues, emphasised the importance of further climate finance goals and strengthening global cooperation, per Azertag.

“The ‘Baku to Belém Roadmap’ demonstrates that the goal of mobilising $1.3 trillion in annual climate finance by 2035 is achievable. However, this requires strong political will, sustained attention, and close coordination among all stakeholders,” Babayev said.

He highlighted that this period coincides with countries preparing new climate plans, which will require significant investment to implement with maximum ambition. “So far, climate finance has not reached developing countries at the necessary speed and scale. If countries are to mitigate and adapt to climate change, they must have access to capital,” Babayev stressed.

The COP29 President also underscored the importance of the $300 billion commitment in public finance: “This is a cornerstone of the Baku financial goal. Grants and concessional finance are vital for countries that have contributed least to climate change but face the most severe impacts.”

The session noted that the “Baku to Belém Roadmap” was shaped based on 227 written proposals from both intergovernmental and non-governmental participants. Babayev added that Azerbaijan continues to fulfill its obligations as COP29 president: “We will hold donors accountable for their promises. Every country must announce its plan for contributing to climate finance.”

COP29 chief negotiator and Deputy Minister of Foreign Affairs, Yalchin Rafiyev, highlighted key achievements of COP29 and Azerbaijan’s diplomatic role in combating climate change. Rafiev noted that the “Baku to Belém” concept represents not only a technical transition but also continuity of goals and shared responsibility. Under Azerbaijan’s COP29 presidency, a science-based, inclusive, and results-oriented model of cooperation in climate diplomacy was established.

UNFCCC Executive Secretary Simon Stiell emphasised the pivotal role of climate finance in global climate action: “Climate finance is the foundation of successful climate measures. It transforms plans into concrete steps and turns ambition into reality. The ‘Baku to Belém Roadmap’ is a powerful signal of confidence: annual climate finance of $1.3 trillion by 2035 is not only achievable but essential. It serves as a bridge between high ambition and tangible action.”

During the event, pilot projects were announced for Uganda, Chad, Guinea-Bissau, and Iraq, to be implemented through the Baku Center for Climate and Peace Action. The projects focus on finance-backed solutions for communities living in challenging climate conditions.

Babayev concluded: “With COP30, we enter the first full implementation cycle of the Paris Agreement. This decade must follow the guidance of the Climate Finance Roadmap.”

COP30 President, Brazilian Ambassador André Corrêa do Lago, added: “I was elected just five days ago, and as COP President I will do everything necessary over the next 360 days to achieve further progress toward the $1.3 trillion target.”

By Khagan Isayev