Developed countries must honour their commitments to finance climate change measures

Brazil hosted the third High-Level Ministerial Dialogue on Climate Finance as part of the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change. Participants called on the international community, particularly developed countries, to play a greater role in providing financial resources and funding for climate action.

President of the 80th session of the UN General Assembly Annalena Baerbock she said: „Currently, the annual funding gap for the UN Sustainable Development Goals stands at a staggering four trillion US dollars. Specifically on climate issues, Article 9 of the UN Framework Convention on Climate Change and the new joint quantified climate finance goal agreed at COP29 call on developed countries to provide US$300 billion annually to finance climate action. COP30 must therefore be the starting point for the comprehensive implementation of this new goal at the global level.“

CMG