COP30 Presidency: Brazil establishes "Circle of Finance Ministers" to address climate challenges

A key initiative of Brazil's COP30 presidency is the creation of a "Circle of Finance Ministers" aimed at ensuring engagement at all levels of government in implementing decisions made at climate conferences, COP30 President-Designate André Corrêa do Lago said during stakeholder consultations led by the COP presidencies on the "Baku to Belém Roadmap to 1.3T."

"In continuation of the efforts by the COP29 presidency, which made a crucial step toward improving climate finance, the Brazilian presidency is focused not only on deepening these discussions within the Convention and the Paris Agreement, but also on expanding them to all levels of government and society," the Brazilian representative said.

To strengthen its technical foundation, a special Advisory Council on Economy, Finance, and Climate has been established, bringing together economists from around the world. Its mission is to provide academic support for the roadmap in development, he noted.

"We are moving in multiple directions and, above all, listening to those who are ready to contribute ideas to ensure that by the end of October we can present a meaningful roadmap that truly guarantees the implementation of the decisions made in Baku," said the president-designate. He added that this reflects Brazil’s commitment to a holistic approach to climate finance, uniting governments, financial institutions, and the expert community.

The "COP30 Circle of Finance Ministers" will serve as a platform for regular consultations throughout the year, culminating in the preparation of a report for the COP30 presidency. This report will contribute to the final Baku to Belém Roadmap, to be jointly presented by the COP29 and COP30 presidencies in Belém.