Global Levies on High-Emitting Activities
Concessional Finance
Issuance of joint declarations of intent to implement new levies domestically or through a relevant international forum.
Belém, Brazil
UNFCCC COP30
Belém, Brazil
Issuance of joint declarations of intent to implement new levies domestically or through a relevant international forum.
UNFCCC assessments projected that new NDCs announced by COP30 will reduce 2035 emissions by 12% against a 2019 baseline. Recognition that emissions gaps are not being closed quickly enough to avoid overshooting 1.5°C led to the establishment of two voluntary initiatives: the Global Implementation Accelerator and the Belém Mission to 1.5°C.
The Baku to Belém Roadmap to 1.3T was delivered at COP30 and noted in the Global mutirão. The Roadmap sets out a framework for scaling climate finance from all sources to USD 1.3 trillion by 2035, highlighting five action fronts: replenishing grants and low-cost capital, rebalancing fiscal constraints, rechannelling to maximize leverage of transformative private capital, revamping efforts on coordination and capacity building, and finally reshaping the systems and structures that hold effective financing back. A tripling of adaptation finance by 2035 was agreed in the Global mutirão, as was a new two-year work programme on climate finance which will include discussions relating to Article 9.1 of the Paris Agreement.
IDB, CAF, and CDB launched the Caribbean Debt-for-Resilience Swap Initiative to scale up debt swaps, increase coordination with MDBs, governments, and the private sector, and improve M&E standards to attract more investment.
Discussions highlighted international solidarity levies as potential sources of climate finance, including proposals targeting premium air travel. A coalition of interested countries launched a Premium Flyers Solidarity initiative, and a report presented estimates showing that coordinated levies across sectors could mobilize significant annual resources.
Introduction of a more granular, user-friendly version of the GEMS database, enabling investors and stakeholders to make more informed decisions in EMDE markets.
Global leaders and institutions commit to a coordinated approach for fostering domestic capital markets in EMDEs, with DFIs committing to scaling their support for local green bond issuance and local currency financing.
Global consensus reached on the definition and scope of transition finance, backed by major climate finance bodies, MDBs, and the private sector.
Private sector and DFIs scale/replicate platforms for co-creation and financing of projects.
New financial instruments announced, including adaptation-focused bonds and guarantees to crowd in institutional investors. Commitments from corporates and investors to scale up adaptation finance, leveraging blended finance models and de-risking tools.
Regulatory guidance announced to balance climate risks and insurance market stability, addressing concerns over rising premiums.
Launch of expanded FX risk-mitigation initiatives, with commitments from MDBs and DFIs to provide support.
G20-led agreement on taxonomy interoperability principles to reduce conflicts across jurisdictions.
Discussed establishing clearer rules on when and how domestic credits can be used in international compliance markets.
Integrity Council for the Voluntary Carbon Market (ICVCM) enhances the Core Carbon Principles Assessment Framework.
New members of the Coalition on Phasing Out Fossil Fuel Incentives Including Subsidies (COFFIS) to publish national inventories on fossil fuel subsidies, and original members of COFFIS present national phase-out plans.
The GGG aims to launch a Directory of Guarantees, which will provide key details to help borrowers search, compare guarantee products, understand eligibility requirements, and navigate the application process efficiently. In parallel, the GGG Expert Group will identify three lighthouse projects that embody the innovation needed to unlock additional capital through guarantees. These projects will be featured to inspire replication and demonstrate practical applications of guarantees in diverse contexts.
Governments, MDBs, and corporations commit to funding and scaling workforce reskilling efforts, with specific targets for job creation and worker transition support.
At least two more countries announce their JETPs.
At least 10 countries have either announced plans to create and implement a country-sector platform or have actually implemented and made progress through a country platform.
The FLRD launched its first call for proposals under the Barbados Implementation Mechanism start-up phase. USD 250 million will be allocated in this round through USD 5 – 20 million grants, with a minimum of 50% going to SIDS and LDCs. After lengthy negotiations, the third review of the WIM was completed. Agreed outcomes include the production of a regular State of Loss and Damage Report and faster development of guidelines for incorporating information on loss and damage into Biennial Transparency Reports (BTRs).
GCF, GEF, CIF and the Adaptation Fund launched their first joint impact report, heeding calls for the funds to work together in a more cohesive and collaborative way. Results are aggregated against indicators across mitigation, adaptation, energy and nature.
Discussions highlighted international solidarity levies as potential sources of climate finance, including proposals targeting premium air travel. A coalition of interested countries launched a Premium Flyers Solidarity initiative, and a report presented estimates showing that coordinated levies across sectors could mobilize significant annual resources.
1. Leading countries led the dialogue on building more equitable and resilient supply chains, with particular mention of a. Mineral supply chains, under the Plan to Accelerate Minerals for the Transition and Circularity b. Food supply chains and, under the Plan to Accelerate Advancing Food Security and Nutrition c. Farm to flight supply chains as a means to accelerate aviation decarbonization.
1. Launched a Global Multi-Stakeholder Partnership to consolidate and scale existing green skills programmes for women and youth across Africa, Asia-Pacific and the Americas with specific targets for skills training, job placements, mentorships, and internships. 2. Recognized the role of innovation and technology transfer as key enablers of just transitions 3. Growing momentum for integrating social protection into climate and economic strategies.
COP30 marked a major milestone with the announcement of 13 country-led climate investment platforms and an additional regional initiative involving African Small Island Developing States (SIDS), supported by a newly launched Country Platforms Hub coordinated by Brazil, with Green Climate Fund readiness support, to align international finance with nationally defined priorities.
The Green Guarantee Group, a mix of MDBs, DFIs, and private sector guarantee providers, launched a directory of guarantee instruments to better connect project developers and financiers to guarantee providers. The Public Development Bank Guarantee Hub was launched by IDFC, MIGA, and the NDC Partnership. The PDB Guarantee Hub aims to unlock more private finance for climate and development efforts through a TA window and Guarantee Facility
Open Coalition on Compliance Carbon Markets launched. The international commitment aims to integrate global decarbonization initiatives and establish a common carbon pricing framework among countries. Membership in the coalition is voluntary and remains open to new participants. https://cop30.br/en/news-about-cop30/carbon-market-coalition-welcomes-18-member-countries-at-cop30.
1. Initiative to establish a common language for green finance and a Taxonomy Roadmap to align more than 60 national taxonomies 2. Launched NZERB Interim Report, marking the convergence of countries and industry around a common language for sustainable and resilient buildings.
Extended the FX Edge programme to expand the Eco Invest model beyond Brazil, addressing foreign-exchange risk as a major barrier to investment in EMDEs. The programme supports national development priorities through blended finance and project preparation, an FX liquidity facility, and an FX derivatives programme to enhance private investment in resilience and sustainable development.