Will the $1.3 Trillion Climate Cash Plan Deliver? A Reality Check in Belém

Negotiators at the SB62 Climate Meetings are working to turn the $1.3 trillion-a-year climate finance roadmap into action. The plan, created in Baku at COP29, faces scrutiny in Belém during the COP30 Climate Change Summit. The focus is on moving beyond promises to actual funding for climate-vulnerable nations.

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Jun 29, 2025 - 21:58

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At the SB62 Climate Meetings in Bonn, negotiators aim to solidify the $1.3 trillion-a-year climate finance roadmap through 2035, created in Baku at COP29 and up for review in Belém during COP30. The key question is whether this promised funding will materialize for the most vulnerable nations or remain elusive.

In Bonn, the call for action was loud and clear: it's time to move from promises to action. Climate-stressed nations can't afford empty diplomacy; they need real financial support to combat the impacts of climate change.

There's frustration over nations still investing in fossil fuels seeking climate finance. The proposed $1.3 trillion annual budget aims to boost climate finance for developing countries, guided by the Baku-Belém roadmap set to be finalized by October 27, 2025.

UN Climate Change Executive Secretary emphasized the urgency to act before COP30, stressing the need to keep the 1.5∘C target alive. The submission of new NDCs and the action agenda for Belém are crucial steps to translate global pledges into measurable actions.

COP30 will focus on six subthemes including energy transition, biodiversity stewardship, and climate finance. The summit aims to facilitate discussions and share solutions to accelerate global climate action.

Vulnerable nations like the Philippines have long awaited climate funds. Belém presents an opportunity to break the cycle of delays and fulfill promises made to those most affected by climate change.

According to the source: Manila Bulletin.