At the 30th United Nations Climate Change Conference in Belém, Brazil, the urgent need to transform climate finance into an operational mechanism that ensures security and justice in the face of the challenges posed by climate change has been highlighted. Delegates from nations most affected by this crisis have emphasized that the lack of adequate financial resources hinders significant initiatives towards climate justice and survival.
During the event, Annalena Baerbock, President of the UN General Assembly, stressed that a mobilization of up to $1.3 trillion annually is required for climate finance. These funds must be distributed fairly and transparently, prioritizing those facing the greatest vulnerability. Baerbock warned that climate insecurity not only fuels hunger and poverty, but also triggers forced migrations and conflicts, forming a harmful cycle that discourages investment.
Reflecting on the tenth anniversary of the Paris Agreement, the president recalled the optimism generated by the pact in 2015, which established a binding international framework on climate. Despite advances in renewable energies, which have become more accessible and affordable, Baerbock warned about the untapped potential in regions like Africa, where over 600 million people lack access to electricity.
Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change, also emphasized the transformative power of climate finance, describing it as the “soul of climate action.” Stiell highlighted that although there have been significant investments in clean energy, funds remain insufficient, complicating access for the most vulnerable countries.
The statement “when finance flows, ambition grows” resonated in his words, emphasizing that increased investment could translate into job creation, cost of living reduction, and improved public health, thus benefiting communities and contributing to a more resilient and prosperous future. In this context, COP30 is established as a decisive moment to demonstrate that climate collaboration can be the catalyst towards a sustainable and equitable future.
Source: MiMub in Spanish