COP30 A DEFINING TEST FOR CLIMATE ACTION

Another Conference of the Parties (COP) is underway—this time in Belém, Brazil. For two weeks, policymakers from around the world will negotiate greenhouse gas mitigation measures to keep the 1.5°C temperature goal within reach. Developing countries are expected to press for the finance they urgently need for both adaptation and mitigation. Expectations are high that developed nations will announce expanded climate-finance commitments, raising the current USD 300 billion pledge agreed at the last COP. There is also hope that a larger share of this finance will come in the form of grants and low-cost loans.

- Shihabul Shakib

The scale of financing required is immense: an estimated USD 1.3 trillion per year. Yet developed countries have committed to only USD 300 billion annually beginning in 2035 — a promise that falls far short of the immediate needs. The gap between what developing countries expect and what has been promised is wide, and these countries need support now, not years down the line.

Their demands are grounded in reality. Developing nations are already experiencing the harshest climate impacts, with rising temperatures, extreme weather, and economic disruptions accelerating far faster than expected. Globally, time is running out. UN Secretary-General Antynio Guterres has warned that the world is on track to *temporarily breach* the 1.5°C limit, meaning even greater efforts will be required to realign with the Paris Agreement.