One of the significant outcomes of COP 29 in Azerbaijan was the “Baku to Belém Roadmap to 1.3T”—the climate finance initiative to raise $1.3 trillion by 2035. The roadmap is part of the New Collective Quantified Goal (NCQG), which mobilizes financial support for developing countries, and is still in negotiation and planning. An update on the roadmap and discussion on how it would be integrated into the COP 30 agenda in Belém, Brazil, were briefly discussed at a pre-COP meeting in the nation's capital city, Brasília. A news article published by Climate Home News covers what was discussed and how the roadmap might be included at the conference, which is nearly one month away.
However, the pre-COP meeting did not dive deep into the details of the planned roadmap. Therefore, the article relied on expert analysis to identify where discussions at COP 30 could potentially lead. UNU-EHS Deputy Head of Risk and Adaptation Department, Soenke Kreft, was featured. According to the climate finance expert, the roadmap will not form a COP 30 agenda on its own but could rather be a key signal to other key actors and processes.
“Many aspects of the roadmap relate to the NCQG in general and should be reflected in relevant climate finance work. It might also relate to other discussions like the indicators for the Global Goal on Adaptation,” explained Kreft.
Read the full article here.
