## “When Finance Flows,Ambition grows”: COP30‘s Call for Action
The third High-level Ministerial Dialog on Climate Finance,held in Belém,Brazil,underscored a critical message for the upcoming COP30: the urgent need to translate climate pledges into tangible action through increased and equitable financial flows. German Foreign Minister Annalena Baerbock, in her opening remarks, stated that COP30 should be the starting point for implementing up to $1.3 trillion in annual climate finance, ensuring these disbursements “reach those most in need, quickly, transparently and fairly.”
Baerbock emphasized the interconnectedness of climate action and social justice, explaining: “Climate insecurity fuels hunger and poverty, poverty drives migration and conflict; and conflict, in turn, deepens poverty and deters investment.” She stressed that breaking this cycle is vital for achieving global climate goals.
Reflecting on the 10th anniversary of the Paris Agreement, Baerbock recalled the emotional impact of the 2015 treaty, noting the shift in perception regarding renewable energy. Once considered “unrealistic,” renewable energy is now the fastest-growing energy source globally. In 2024, global investment in clean energy reached $2 trillion – a substantial $800 billion more than investment in fossil fuels – and solar power has become the cheapest form of electricity in history.
Despite this progress, Baerbock cautioned that “vast potential remains untapped because capital is still not flowing to where it is most needed,” especially in Africa. Over 600 million africans currently lack access to electricity, despite the continent possessing renewable energy potential 50 times greater than the world’s projected electricity demand for 2040. She urged developed nations to fulfill their technological and financial commitments and to push for reform of global financial institutions.
UN Climate Change Executive Secretary Simon Stiell echoed these sentiments, describing climate finance as the “lifeblood of climate action,” capable of transforming “plans into progress” and “ambition into implementation.” He acknowledged the ongoing challenges faced by vulnerable countries in accessing long-pledged funds.
Stiell highlighted that while billions are being invested in clean energy, resilience, and just transitions, the total volume remains “neither sufficient nor predictable enough,” and is not equitably distributed. He stated the world is looking for concrete evidence at COP30 that climate cooperation is delivering results.
“Real finance, flowing fast and fair, is central to that proof,” Stiell urged, calling on delegates to demonstrate the effectiveness of climate cooperation and showcase how current investments can drive the “growth story of the 21st century.” He powerfully summarized the relationship between funding and progress: “When finance flows, ambition grows,” leading to implementation that creates jobs, improves health, protects communities, and builds a more resilient and prosperous planet.
*UN News* is providing comprehensive coverage from Belém, offering front-row access to developments at COP30.
