Enviro News Asia, Bonn — United Nations Climate Change Executive Secretary Simon Stiell emphasized that expanding climate finance is essential to ensuring that the benefits of climate action reach billions of people around the world. Speaking at a joint event organized by the COP29 and COP30 Presidencies during the UN June Climate Meetings in Bonn, Germany, on 11 June 2026, Stiell underscored that the current phase of global climate action is defined by implementation, with finance serving as its key driver.
Stiell said climate finance is indispensable for turning national plans into concrete projects and for laying the foundation for stronger climate commitments ahead of the second Global Stocktake process. He recalled that countries at COP29 had collectively called on governments, development institutions, businesses, and other stakeholders to mobilize US$1.3 trillion annually by 2035 to support climate action.
According to Stiell, the Baku-to-Belém Roadmap provides a practical framework to achieve that target and sends a strong message that mobilizing US$1.3 trillion is both realistic and necessary. Although the roadmap is not a negotiated outcome, he noted that it reflects an unprecedented number of submissions and hundreds of proposals from climate and finance communities worldwide.
Stiell acknowledged that the global economic environment continues to create significant challenges, particularly for developing countries. These pressures, he said, constrain the ability of vulnerable nations to make critical investments needed to address climate change and build resilience.
He stressed that stronger political support is required to ensure successful implementation of the roadmap, including backing from other international forums. Immediate priorities, he said, should focus on maintaining momentum and maximizing the impact of available climate finance.
Among the key actions highlighted were improving the efficiency of climate finance, leveraging public funding to attract larger volumes of private investment, expanding access to affordable capital, enhancing coordination across fragmented climate and development finance systems, and addressing debt vulnerabilities faced by developing countries.
Stiell also called for efforts to change risk perceptions, align investment frameworks with climate objectives, and continue exploring innovative sources of climate finance. He emphasized the importance of working closely with successive COP Presidencies and building upon their priorities and networks to accelerate progress.
He expressed confidence that meaningful progress could be demonstrated by the time countries convene for the second Global Stocktake at COP33.
“Finance will drive implementation forward. It is essential for a truly global transition, bringing the benefits of climate action to billions of people and enabling the more ambitious commitments that science demands,” Stiell said.
The remarks were delivered during discussions on the implementation of the Baku-to-Belém Roadmap to US$1.3 trillion, which is expected to become a central pillar of international climate finance efforts over the coming decade. (*)
