Leading climate advocate calls for urgent action on climate finance ahead of COP30

A prominent climate advocate, described as “one of the busiest men at COP29,” and the Special Advisor of ODI Global, Ali Serim, has underscored the critical urgency of addressing climate finance ahead of COP30 in Brazil, stating, “We cannot afford to leave our climate finance agenda to the next COP.”

Speaking at COP29 in Baku, positioned as the “Finance COP,” Serim called on developed nations to deliver tangible and actionable outcomes to confront the escalating climate crisis.

“Climate finance is not just a topic for negotiation; it is an immediate necessity. Baku must set the stage for impactful progress, particularly for Small Island Developing States (SIDS), which are on the frontline of the climate emergency,” Ali Serim stated.

Highlighting the pressing needs of vulnerable nations, the advocate called for the establishment of dedicated climate change funds tailored specifically for SIDS. Such funds would support urgent adaptation and resilience-building efforts in these regions most affected by rising sea levels and extreme weather events.

Ali Serim also emphasized the critical role of public-private partnerships (PPPs) in mobilizing resources and scaling climate solutions. “PPPs have the potential to bridge the financing gap by leveraging private sector innovation and public sector oversight. We need to harness this model to accelerate progress,” he noted.

A key point of the address was the increasing importance of family offices in climate finance. “Family offices can play a transformative role by investing in sustainable projects that align with long-term environmental goals. Their participation is not just beneficial but essential,” the climate advocate remarked.

COP29 in Baku presents a pivotal opportunity for the global community to align on financial mechanisms that prioritize equity, accountability, and immediate action. The advocate concluded, “Developed nations must act decisively in Baku to demonstrate their commitment to climate justice and ensure COP29 is remembered as a turning point for climate finance.”

ODI Global, originally established as the Overseas Development Institute in 1960, is a leading independent think tank dedicated to advancing global development and tackling some of the world’s most pressing challenges, including poverty, inequality, and climate change. Headquartered in London, ODI has played a pivotal role in shaping policies and providing innovative solutions to drive sustainable development worldwide. Renowned for its evidence-based research, ODI Global has been instrumental in influencing international policies, fostering collaborations between governments, private sectors, and civil society, and championing the voices of vulnerable communities. With a strong focus on climate finance, governance, and social equity, ODI continues to play a crucial role in bridging the gap between research and action, making it a vital player in global efforts to achieve equitable and sustainable development.