Baku to Belem Roadmap

Source: TOI

Context: India, at the 11th BRICS Environment Ministers’ Meeting in Brazil, urged all 11 BRICS nations to support the ‘Baku to Belem Roadmap’, which aims to mobilise $1.3 trillion annually by 2035 for climate action.

About ‘Baku to Belem Roadmap’:

• What is the ‘Baku to Belem Roadmap’?

• The ‘Baku to Belem Roadmap’ is a finance mobilisation framework initiated between COP29 (Baku, Azerbaijan) and COP30 (Belem, Brazil). It aims to chart a path for mobilising $1.3 trillion per year by 2035 for climate action in developing countries.

• The ‘Baku to Belem Roadmap’ is a finance mobilisation framework initiated between COP29 (Baku, Azerbaijan) and COP30 (Belem, Brazil).

• It aims to chart a path for mobilising $1.3 trillion per year by 2035 for climate action in developing countries.

• Organisations Involved:

• UNFCCC COP Presidencies (Azerbaijan and Brazil) are mandated to lead the process.

• Objectives of the Roadmap:

• Scale Climate Finance: Mobilise $300 billion from public sources and $1.3 trillion overall annually by 2035. Promote Equity: Ensure just transition pathways for developing nations. Address Barriers: Identify systemic challenges such as high cost of capital and regulatory constraints. Leverage MDBs: Expand roles of multilateral development banks in concessional lending. Strengthen Global Partnerships: Enable co-financing from public and private sources.

• Scale Climate Finance: Mobilise $300 billion from public sources and $1.3 trillion overall annually by 2035.

• Promote Equity: Ensure just transition pathways for developing nations.

• Address Barriers: Identify systemic challenges such as high cost of capital and regulatory constraints.

• Leverage MDBs: Expand roles of multilateral development banks in concessional lending.

• Strengthen Global Partnerships: Enable co-financing from public and private sources.

• Key Features:

• Holistic Planning: Combines climate grants, concessional loans, and private investment instruments. Transparency Framework: Encourages stakeholder consultations and open reporting. Non-Debt Focused Tools: Promotes non-debt creating climate instruments. Technical Report (not political): Emphasises evidence-based mapping over political negotiations. Multilateral Participation: Inclusive of private sector, MDBs, and developing country coalitions like BRICS and G77.

• Holistic Planning: Combines climate grants, concessional loans, and private investment instruments.

• Transparency Framework: Encourages stakeholder consultations and open reporting.

• Non-Debt Focused Tools: Promotes non-debt creating climate instruments.

• Technical Report (not political): Emphasises evidence-based mapping over political negotiations.

• Multilateral Participation: Inclusive of private sector, MDBs, and developing country coalitions like BRICS and G77.