COP President 30 defends new forms of climate financing

Ambassador André Corrêa do Lago, president of the United Nations Conference on Climate Change (COP30), which will be held in November this year in Belém, defended on Monday (31) that it is necessary to think of new ways to finance the environmental agenda.

“Brazil is giving immense help to find ways to other ways to finance. There are discussions about maritime transportation, oil, plane executive class. We will look at everything to reach $ 1.3 trillion in 2035. We need to expand the discussion about climate financing and think beyond traditional mechanisms,” he said during the event -based solutions and out -of -finance opportunities, promoted by nature Investment Lab (Nil).

The meeting, held today, in São Paulo, brought together leaders from the financial sector, public and multilateral institutions and impact ecosystem organizations to discuss the advances of Nature Investment Lab, a private sector -led initiative that was launched in September last year to overcome legal and financial challenges, develop replicable business models and create innovative financial structures for sustainable projects in Brazil.

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According to the ambassador, the financing of the “Agenda de Action” is one of the priorities of the Brazilian government, as well as the strengthening of multilateralism and the creation of business opportunities, seeking to make viable projects focused on combating climate change.

“We cannot find that only climate change negotiation and Paris agreement will solve the climate issue. The agreement and climate convention are good environments to negotiate solutions, but implementation depends more on development banks, the IMF (International Monetary Fund), so that what is being discussed becomes a reality in the countryside. The financing depends on other organs,” commented the ambassador.

“COP has a very formal dimension of negotiations, and they can only participate in the 196 countries of the Paris Agreement. Who will take this later are institutions of these countries, but also subnational governments, private sector, academy, which do not participate in negotiations. What you are doing can serve as the basis for other countries, where it is much more difficult.