FACTSHEETSUNenvironmentprogrammeBaku toBelemroadmap toUS$1.3 trillionThe UN Climate Change Conference(COP30)will take place in Belem,Scaling climate adaptation finance is a necessity and anBrazil,from November 10-21.Key expect ations include the presentationof new national climate action plans(NDCs)progress on financeopportunity,especially for resilient infrastructure,water,andfrom COP29,and discussions on scaling innovative climate financeagriculture in the Global South,where demand andmechanisms.The conference will also feature the COP30 Action Agenda,opportunities are growing.a program to engage businesses,civil socety,and various levels ofgovernment in practical climate solutions.Engaging real economy actors is essential.When coresectors like energy,transport,infrastructure,and land useOverviewalign with viable transition pathways,financial flows canmore effectively support the goals of the Paris AgreementAt COP29,countries agreed on a New Collective Quantifiedand accelerate sustainable economic transformation.Goal(NCQG)to triple finance to developing countries,fromthe previous goal of USD 100 billion annually,to USD 300System-wide,joint approaches are critical,requiringbillion annually by 2035.coordination across governments,institutions,and valuechains.Blended finance and public-private-philanthropicThey agreed to secure efforts of all actors to work togetherpartnerships can reduce risk and incentivize innovation.to scale up finance to developing countries,from public andprivate sources to the amount of US$1.3 trillion per year bySupport for country-driven investment platforms is2035.essential.Country platforms can mobilise climate financeflows at scale behind national priorities.They direct financialThe Baku to Belem Finance Roadmap is ajoint initiative co-flows towards prioritized sectors and projects,and createled by the COP29 Azerbaijani Presidency and the COP30opportunities for co-investment,while addressing roadblocksBrazilian Presidency to operationalize this US$1.3 trillionto investment.goal.Key messagesJust,resilient transitions need enabling environments,supported by coherent fiscal,policy,and regulatoryframeworks.Interoperable sustainable finance taxonomies,Catalytic finance is key for systemic change requiring notclimate-informed supervision,and institutional capacityjust more funding,but strategically targeted investmentsbuilding are essential to unlock large-scale climate financealigned with Nationally Determined Contributions(NDCs).National Adaptation Plans(NAPs),and National TransitionPlans.Catalytic finance addresses investment barriers andKey dataunlocks private sector opportunities for long-termsustainable development.US$1.3 trillion per year by 2035-a goal anchored in theNCQG,with the Baku-Belem Roadmap outlining how it can beTransformational finance must extend beyond individualmobilised.projects,influencing markets,policies,and behaviours forscalable,long-term impact.The goal is for shifts to endureUSS 1.9 trillion total global climate finance flows in 2023,beyond single transactions.Public Development Bankswith over USS 1 trillion from private sources,surpassing(PDBs)play a vital role in driving this transformation.public investment.Climate finance should integrate resilience considerations,USS 1,780 billion amount invested in mitigation in 2023,combining disaster risk finance with adaptation andcompared with USD 65 billion for adaptationmitigation.To ensure holistic development,it must addresspoverty,inclusion,gender equality,youth employment,andUSS 58 billion -amount directed to dual-benefit activitiesconsider risk transfers such as through insurance.supporting both mitigation and adaptation.USS 196 billion amount channeled to developing countries,The report is the key element informing the Roadmap,78%of which came from the public sector,revealing a majorcomplemented by other inputs including UNFCCCprivate-finance gap.submissions and Presidency-led workshops.USS 46 billion the portion of developing country financeallocated to adaptation,far below estimated needs.What's UNEP doing?Worldwide,natural disasters caused losses of USS 320Supporting the COP30 Presidency to design the Baku tobillion in 2024,of which around USS 140 billion wereBelem Roadmap.UNEP Finance Initiative(UNEP-FI)coinsured.leads the Transformational Finance for Climate GroupClimate finance in NDCsderived from the Making Finance Work for ClimateInitiative launched at COP29.It brings together thousandsof leading public and private financial actors from62 out of 197 countries have submitted updated NDCs(asdeveloped and developing countries,representing moreof 28 Oct 2025)under the Paris Agreement with 89%than 40%of global financial assets.communicating economy-wide targets and 73%of NDCsincluding an adaptation and resilience component.Sustainable Finance Taxonomies:a key element of theenabling environment to reach USS1.3 trillion annually by63%of Parties referenced climate financing strategies or2035.UNEP-FI promotes the development andinvestment plans to support NDC implementation.interoperability of sustainable finance taxonomies thatdefine climate-aligned investment.What to expect at COP30?Aligning fiscal policy with climate goals.UNEP's SustainableThe 1/CMA6 decision on the NCQG includes a singleBudgeting Approach(SBA)integrates climate goals intodeliverable for COP30-the Baku-to-Belem roadmap,a jointnational fiscal policy,linking climate ambition with concreteeffort by the COP29 and COP30 Presidencies to guide thespending decisions.This ensures that public finance drivesmobilization of USS 1.3 trillion expected to be published insectoral decarbonisation and adaptation in practice.November.Further readingUNEP FI submission to the UNFCCC call toBaku to Belem RoadmapNCQG and Sharm el-Sheikh dialogue JointStatement by the Making Finance Work forClimate CoalitionThird Report of the Independent High LevelExpert Group on Climate Finance (2024)NZAOA submission to the UNFCCC call toaction on Baku to Belem RoadmapUNEP's Sustainable Budgeting ApproachGlobal Landscape of Finance Flows Report2025UNEP Contact:UN Environment ProgrammeFinance Initiativebeata.bienkowska@un.org.UNenvironmentCOP30 Factsheet Seriesprogramme