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COP30 kicks off in Brazil, focus on mobilising $1.3 trillion finance

COP30 kicks off in Brazil, focus on mobilising $1.3 trillion finance

The 30th session of the annual UN climate conference (CO) kicked off on Monday in Belem, Brazil, with a focus on climate finance to mobilise $1.3 trillion annually for developing countries by 2035. Discussions on the inaugural day, however, were centred around setting key agenda points, involving five critical issues, for negotiations. reports Vishwa Mohan. The presidencies of this year’s host Brazil and last year’s host Azerbaijan had last week released the ‘Baku to Belem Roadmap’, detailing how to deliver $1.3 trillion annually for developing countries to help them implement promised climate actions.

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Though not a formal conference document, the roadmap set the tone for brainstorming the issue during the upcoming negotiations. With countries gearing up to discuss contentious issues, including climate finance, UN climate change executive secretary Simon Stiell, while opening the CO, said, “Your job here is not to fight one another – your job is to fight this climate crisis, together.” Besides the critical issues of ways and means of mobilising climate finance and the countries’ response to the latest round of climate action pledges (Nationally Determined Contributions) to limit the warming to 1.5 degree Celsius, the setting of agenda on the first day revolved around three more issues. India is currently represented by a team of officials from different ministries, including environment and finance. Environment minister Bhupender Yadav will participate in negotiation during the second week of the meet.


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