BRICS Calls for $1.3 Trillion in Climate Finance Ahead of COP30
As global temperatures rise and climate urgency intensifies, the BRICS group has issued a powerful joint declaration demanding $1.3 trillion in climate finance from developed nations.
dominagrana
Financial Intelligence Team
$1.3 Trilhão
Financiamento Climático Solicitado
COP30
Belém, Brasil - Nov 2025
From Baku to Belém: A Roadmap for Climate Action
The declaration, titled "Baku-to-Belém Roadmap," was unveiled at the BRICS Leaders' Summit in Rio de Janeiro. It calls for both public and private climate finance to be mobilized immediately, placing the burden of action on historically high-emission nations.
The roadmap aims to close the vast funding gap for climate adaptation and mitigation in developing countries, while also pressuring wealthier nations to commit to more ambitious climate targets for 2030.
Key Demands from the BRICS Group
1. Ambitious 2030 Targets
BRICS nations are urging developed countries to revise their Nationally Determined Contributions (NDCs) under the Paris Agreement and accelerate emission cuts. The group wants net greenhouse gas emissions to reach zero before 2050 — and preferably by 2030. Beyond that, emissions should become negative to stabilize the planet's climate system.
2. Climate Finance as Grants, Not Debt
The declaration highlights that climate financing should be concessional — primarily in the form of grants or donations, not loans. The group insists funding must not increase the debt burden of vulnerable nations and should be accessible directly by local communities.
3. Use of Existing Funds
The resources should flow through established international climate funds such as:
- • The Green Climate Fund (GCF)
- • The Global Environment Facility (GEF)
- • The Adaptation Fund
- • The Loss and Damage Response Fund (LDRF)
4. Support for Tropical Forest Protection
One key innovation mentioned is the Tropical Forests Forever Fund (TFFF) — an upcoming initiative expected to be launched at COP30. This blended finance mechanism aims to support sustainable development and forest conservation in countries like Brazil by combining public and private capital.
5. Carbon Markets and Trade Justice
The BRICS bloc supports expanding international carbon markets and creating transparent regulatory frameworks to attract private sector participation. However, the group also strongly opposed unilateral trade measures like the EU's Carbon Border Adjustment Mechanism (CBAM), labeling them as protectionist and counterproductive.
"Climate responsibility is common but differentiated — developed countries must do more, given their historic emissions and financial capability."
Multilateralism Over Unilateralism
The group reiterated its commitment to multilateral governance through the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. It emphasized that climate responsibility is common but differentiated — developed countries must do more, given their historic emissions and financial capability.
BRICS vs. EU: Trade Tensions
BRICS Position:
- • Multilateral carbon markets
- • Transparent frameworks
- • Private sector participation
- • No unilateral measures
Opposition to EU CBAM:
- • Labeled as protectionist
- • Counterproductive to climate goals
- • Unfair to developing nations
- • Undermines multilateral approach
What This Means for Investors, Entrepreneurs, and Policymakers
With climate finance gaining global attention, now is the time to:
💰 Investors
Explore green investment opportunities in emerging markets and climate funds
🚀 Entrepreneurs
Align business strategies with sustainable frameworks and ESG criteria
📊 Policymakers
Stay informed on climate policy shifts and international negotiations
Timeline to COP30
With COP30 scheduled for November 2025 in Belém, Brazil, the pressure is mounting for developed nations to respond to the BRICS demands. The success of these negotiations could determine the pace of global climate action for the next decade.
Key Milestones Ahead:
- • 2025 Q1-Q2: Negotiation of climate finance commitments
- • Mid-2025: Launch of Tropical Forests Forever Fund (TFFF)
- • November 2025: COP30 in Belém, Brazil
- • 2030: Target date for ambitious emission reductions
The BRICS declaration represents a significant escalation in climate finance negotiations, potentially reshaping how the world approaches climate funding and international cooperation. As the countdown to COP30 begins, all eyes will be on whether developed nations can meet these ambitious demands.