Nigeria, among other developing nations, will benefit from the $1.3 trillion annual climate finance by 2035, marking a critical step toward fulfilling the Paris Agreement’s goals.
Azerbaijan and Brazil’s climate leaders unveiled the ambitious plan as part of the build-up to COP30 in Brazil.
In a report by COP30 Brazil, the Baku to Belém Roadmap, presented by COP29 President Mukhtar Babayev and COP30 President André Corrêa do Lago, outlines a comprehensive strategy to scale up climate funding through both traditional and innovative financial mechanisms.
“We need to act — and the time is now. The 2030 and 2035 climate commitments give us a rare chance to turn promises into real, sustainable development—protecting the planet while creating jobs, strengthening communities, and ensuring prosperity for all,” said President Babayev.
The roadmap comes as the international community marks a decade since the adoption of the Paris Agreement, with mounting pressure to translate climate commitments into tangible action.
The plan centres on five priority action fronts, collectively known as the “5Rs”:
- Replenishing grants, concessional finance, and low-cost capital
- Rebalancing fiscal space and debt sustainability
- Rechanneling transformative private finance and affordable cost of capital
- Revamping capacity and coordination for scaled climate portfolios
- Reshaping systems and structures for equitable capital flows
These measures aim to improve access to climate finance for developing nations while strengthening outcomes in critical areas, including adaptation, loss and damage, clean energy, nature protection, food systems, and just transitions.
President Corrêa do Lago emphasised the roadmap’s practical significance: “This is the beginning of an era of truth in climate finance. To deliver the Paris Agreement faster, climate action must be embedded in real economic and financial reform. With the 5Rs, the Roadmap turns scientific urgency into a practical plan for global cooperation and results.”
The initiative reflects growing international momentum for reforming the global financial architecture, particularly following the economic disruptions of the COVID-19 pandemic. Developed under the Baku Finance Goal framework, the roadmap incorporates input from political, financial, economic, and social leaders worldwide.
Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), welcomed the plan’s comprehensive approach.
“The Roadmap shows how, by working together, we can scale up climate finance towards USD 1.3 trillion a year by 2035, helping developing countries meet their climate goals,” Stiell said. “This new era will be about bringing our formal process closer to the real economy, accelerating implementation, and delivering benefits to billions more people. Bigger and better climate finance solutions will be a crucial part of that shift.”
To jumpstart implementation, the COP Presidencies propose immediate practical actions, including improving data collection, driving reform discussions, and strengthening transparency and international collaboration.
The report concludes with an urgent call to action: “The resources exist. The science is clear. The moral imperative is undeniable. What remains is the resolve — to make this the decade where ambition becomes action and humanity’s response finally meets the scale of its responsibility.”
