Among the many humanitarian crises, like climate change, another crisis is the “infobesity”, i.e., the phenomenon of too much information. Keeping in the spirit of this, we prefer not to write another perspective of what to expect from COP 30 but rather compile what people have already said and provide alink to their commentary for further reading.
- NEW COLLECTIVE QUANTIFIED GOAL ON CLIMATE FINANCE (NCQG) – decided at COP29 (Baku, Nov 2024
At COP29 in Baku, Parties agreed on the New Collective Quantified Goal (NCQG) on climate finance, a pivotal decision that sets a global target to increase annual climate finance to at least USD 1.3 trillion by 2035 to support developing countries. This goal builds on previous climate finance commitments and expands the focus on both mitigation and adaptation efforts, addressing the urgent need to reduce global greenhouse gas emissions while building resilience in the face of climate impacts. The NCQG acknowledges that developed countries must provide a significant portion of this finance, but it also highlights the role of the private sector, multilateral development banks, and innovative financial mechanisms. The new goal aims to bridge the financing gap needed for countries to meet their Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs), with the first major target set at USD 300 billion annually by 2035.
2. REPORT ON THE BAKU TO BELÉM ROADMAP TO 1.3T
The Baku to Belém Roadmap to 1.3T is a strategic framework designed to mobilize USD 1.3 trillion annually by 2035 to support climate action in developing countries. This goal aligns with the Paris Agreement and aims to ensure equitable, low-emission, and climate-resilient development. The roadmap was developed after extensive consultations and is structured into three parts: finance action fronts, thematic action fronts, and short-term deliverables. It emphasizes the importance of scaling up climate finance through public and private sources, addressing the financial barriers that hinder developing countries’ access to climate funds. The roadmap outlines five critical action fronts—Replenishing, Rechanneling, Rebalancing, Revamping, and Reshaping—to ensure the effective allocation of resources. It also highlights the need for transformative policies, innovative financing mechanisms, and greater coordination among global stakeholders to meet climate finance goals, particularly for the most vulnerable nations such as Small Island Developing States (SIDS) and Least Developed Countries (LDCs). The roadmap highlights the urgency of immediate action to address the rising impacts of climate change, the growing financial burden on developing countries, and the need for sustainable development solutions.
3. UNFCCC Agenda Item: “Matters relating to finance – Long-term climate finance” for COP30
A major item on the COP30 agenda will be “Long-term climate finance”, underlining the urgent need to address the climate finance gap and ensure the scalability of finance towards achieving the 1.5°C climate goal. This includes discussions on the progress made since COP29 on scaling up financial commitments to developing countries. The discussions will emphasise financial architecture reforms, including better coordination among multilateral development banks, private sector investment, and philanthropic funding, with the aim of integrating climate finance into long-term sustainable development goals (SDGs). It is anticipated that COP30 will focus on ensuring sustainability in the mobilisation of funds and establishing clear pathways to increase financing for climate adaptation and loss and damage.
4. Report of the Global Environment Facility (GEF): Addendum
The Global Environment Facility (GEF) plays a critical role in supporting developing countries in meeting their climate change commitments. In its 2025 report to COP30, the GEF provided a detailed update on the resources allocated for preparing national communications, biennial update reports (BURs), and biennial transparency reports (BTRs) for developing countries. The GEF’s support is essential for strengthening monitoring, reporting, and verification (MRV) systems, which are crucial for countries to fulfill their obligations under the Paris Agreement. The GEF is also focused on enhancing capacity-building efforts, such as deploying experts under its Readiness Programme, to help countries improve their national frameworks for accessing climate finance. This program is particularly focused on assisting LDCs, SIDS, and African countries, ensuring that their climate finance needs are addressed and aligned with their national adaptation strategies. The GEF has emphasised a continued focus on transparency, accessibility, and coherence with other climate funds to ensure the effective mobilisation of resources.
5. Report of the Green Climate Fund (GCF) to COP30: Note by the Secretariat
The Green Climate Fund (GCF) highlighted its ongoing efforts to expand climate finance and improve efficiency in fund delivery in its 2025 report. The GCF is on track to manage USD 50 billion by 2030 and is working to mobilize USD 1.3 trillion annually by 2035 as part of the New Collective Quantified Goal (NCQG). Over the past year, the GCF approved USD 1.231 billion for 17 projects across 81 countries, focusing on mitigation and adaptation actions. The GCF has made notable progress in streamlining its processes, including shortening approval times and ensuring faster disbursement of funds. This has been achieved through the approval and disbursement of 10 projects within less than two weeks. The GCF also increased its private sector engagement, committing USD 1.55 billion to support green technologies and climate resilience projects. Additionally, the GCF expanded its Readiness Programme, which provides grants to improve climate finance readiness, especially in LDCs and SIDS, through expert placement schemes that strengthen national capacities to access and manage climate finance. The GCF emphasizes country ownership and aims to enhance the catalytic role of finance for both public and private sector investments.
Climate Finance Watch Blog 