COP30 to present ‘Baku to Belém’ climate finance roadmap

The upcoming COP30 climate conference in Brazil will feature the unveiling of the "Baku to Belém" roadmap, Azerbaijani Deputy Foreign Minister Yalcin Rafiyev announced.

Speaking at a conference during the Caspian Agro and InterFood Azerbaijan exhibitions, Rafiyev emphasised the scale of the initiative, noting plans to increase annual climate financing from $300 billion to $1.3 trillion by 2035. The effort will involve cooperation between governments and the private sector, with particular attention to developing nations, Caliber.Az reports via local media. 

"We are currently working with our Brazilian colleagues on the roadmap ‘Baku to Belem’ worth $1.3 trillion," he said.

Azerbaijan’s COP29 Presidency introduced the Baku Finance Goal (BFG), aimed at mobilising $1.3 trillion in climate finance annually for developing nations during a conference on March 12. 

The COP30 climate conference is scheduled for November 10-21 in Belém, Pará, Brazil. 

By Sabina Mammadli