The president of COP30ambassador André Corrêa do Lagostated this Wednesday (15) that, during the conference in Belém, it will still not be possible to reach the target of US$ 1.3 trillion in investments in climate actions.
The ambassador was talking about the — roadmap that aims to mobilize US$ 1.3 trillion per year by 2035 in climate actions.
The statements were made during the , in Brasília.
“Look, we’re not going to see US$1.3 trillion in Belém, no, unfortunately,” said the ambassador when asked about the number.
At the end of October, the ambassador should publish a report showing how it would be possible to increase current investments, from around US$300 billion to US$1.3 trillion.
On CNN Talks, the ambassador shared part of the document and stated that the private sector must be able to increase investments in climate finance by up to 25 timesin addition to being possible to expand the lending capacity of multilateral banks by two or three times.
“It will be difficult, but it is possible to multiply the lending capacity of multilateral banks by two or three, but the expectation is that the private sector can increase 25 times what they place in developing countries,” he said.
The ambassador stated that the .
Climate finance is considered fundamental to boost sustainable projects, promote adaptation to climate change and reduce carbon emissions, especially in countries with fewer resources, which face greater vulnerability and have fewer resources to invest in energy transition.
The topic should be highlighted at COP30 (United Nations Conference on Climate Change), which will be held in November, in Belém (PA).
Under the leadership of Brazilian diplomacy, the conference is expected to boost negotiations on climate financing, energy transition, preservation of the Amazon and compliance with the goals of the Paris Agreement.
The event of CNN Brazil brings together the main decision-makers on the environmental agenda to anticipate the central themes of COP30.
CNN Talks takes place in Brasília right after the official Pre-COP.
