COP30 Presidency calls on parties to scale up climate finance in draft text

The COP30 Presidency has published a draft text, in which it calls on countries to scale up climate finance for developing countries to at least $1.3 trillion by 2035.

The draft text, entitled Global Mutirão: uniting humanity in a global mobilization against climate change, acknowledges the progress made since the Kyoto Protocol and the Paris Agreement, but recognises the gaps that still remain, acknowledging that parties need to shift their focus on negotiation to implementation.

Commenting on the draft text, Climate Action Network International said, ‘The references to holding warming well below 2°C and pursuing efforts to limit it to 1.5°C are essential. These clauses make clear that impacts are significantly lower at 1.5°C and the draft must retain this scientific grounding.’

The draft text notes that 123 parties have to date submitted updated nationally determined contributions, while 80 parties have submitted long-term strategies, and 72 parties have submitted national adaptation plans or related planning documents, urging those that have not yet done so to step up their efforts.

Global mutirão

It also calls for a collective effort – dubbed a ‘global mutirão’ – to encourage coordinated, cooperative action across governments, institutions, and non-party stakeholders.

Notably, the report outlines several options for how parties might move forward, recognising the continued shortfall against the planned $100 billion financing goal. This incudes mechanisms to address implementation barriers, align national planning with long-term strategies, and support peer-to-peer exchanges.

Commenting on the various options, Climate Action Network International added, ‘Option 1 is the strongest and should be strengthened with a clear near-term delivery plan. A combination of Option 1 and Option 3 could work – but only if references to “global effort” are removed and developed-country responsibilities are made explicit. Weak language such as “deliberating” on implementation should be avoided.’

The draft proposal also includes options on how parties may address trade-related issues linked to climate policy, including potential dialogues, platforms, or workshops involving relevant international organisations.

‘The intersections between climate and trade – including unilateral trade-restrictive measures – must be addressed within the UNFCCC and in relation to implementing a just transition,’ Climate Action Network International noted.

Further draft texts are expected to be published ahead of the close of COP30 this Friday, when a final agreement is expected. Read the full draft text here, and Climate Action Network International’s response here.