From Baku to Belém: The Climate Finance Roadmap to COP 30, 4 - 5 March 2025

Climate finance is central to meeting international legal climate obligations and driving policy and operational change on climate action locally, transnationally, and globally. The outcome of the 29th meeting of the Conference of Parties to the United Nations Framework Convention on Climate Change (UNFCCC) (COP29) in Baku Azerbaijan, November 2024 (dubbed the ‘Finance COP’) was a new global finance goal and a framework for raising ambition for climate finance in the run-up to COP30 in Belém, Brazil in November 2025. Theagreementfor a New Collective Quantified Goal (NCQG) commits developed countries to ‘lead’ on mobilising at least US$300 billion in climate finance annually by 2035 and sets into motion a pathway to work towards a scaling up of finance to US$1.3 trillion a year by 2035.

The 'From Baku to Belém' workshop, organised under the auspices of the Warwick Climate Governance and Policy Nexus (NEXUS), the Warwick Sustainability Spotlight, and the Climate Finance for Equitable Transition (CLiFT), took place as a platform for capacity building, policy advocacy, information dissemination, and networking. The event brought together academics, negotiators, policymakers, civil society groups, and representatives from bilateral and multilateral finance institutions.

The workshop aimed to critically review the outcomes of COP29, assess the current state of climate finance negotiations and policy discussions leading into COP30, and to discuss just and equitable climate action that support transformational change in communities. The event aimed to foster dialogue and collaboration among key stakeholders, enabling the development of synergies for advancing equitable climate finance law, policy, and governance and to develop collaborative research and policy initiatives.

Attendees engaged with global experts and policymakers, including:

• Academics and Researchers: Experts working on climate finance, climate law, policy, and governance.
• Government: Policymakers, legislators, and regulators focused on climate finance and multilateral climate negotiations.
• International Organisations: Representatives from organisations like the UNFCCC bodies and UNCTAD.
• Civil Society: Members of NGOs and civil society groups involved in climate and sustainable development advocacy.
• Financial Institutions: Banks, impact investors, and private sector entities in renewable energy and green finance.

Speakers included:

• Professor Kerry Kirwan, Deputy Pro-Vice Chancellor Research, University of Warwick
• Rt Hon The Lord Teverson, Member House of Lords (Industry and Regulators Select Committee, and Honorary Fellow, IGSD)
• Dr. Fariz Ismailzade, Vice Rector of ADA University, Executive Secretary of the COP29 Scientific Council and Director of the Institute for Development and Diplomacy (IDD)
• H.E. Wael Aboulmagd, Assistant Minister of Foreign Affairs for Climate, Environment and Sustainable Development Department, Egypt
• Dr Diego Pacheco, Head of the Bolivian Delegation and General Director of Living Well and Foreign Affairs at the Vicepresidency of the Plurinational State of Bolivia.
• David Bailey, Head of Global Climate Finance, UK Foreign Commonwealth and Development Office (FCDO)
• Vicente Paolo Yu, Senior Legal Advisor, Third World Network (TWN), Visiting Research Fellow, UN Research Institute for Social Development (UNRISD), Associate Fellow, Geneva Centre for Security Policy
• Katie Swan-Nelson, Economic Affairs Officer, Climate and Development Strategies Unit, Division on Globalisation and Development Strategies, United Nations Conference on Trade and Development (UNCTAD)
• Rebecca Thissen, Global Advocacy Lead, Climate Action Network (CAN) International
• Dr. Amiera Sawas, Head of Research and Policy, Fossil Fuel Non-Proliferation Treaty (FFNPT) Initiative
• Professor Celine Tan, Professor of International Economic Law, University of Warwick
• Meena Raman, President, Friends of the Earth Malaysia and Head of Programmes, TWN

For a full list of speakers and their profiles, please see our speaker biographies

Our high-level policy event on Tuesday, 4 May 2025 featured panel discussions with key stakeholders involved in the negotiations and advocacy at the UNFCCC. It provided an in-depth review of the climate finance outcomes from COP29, mapping key decisions and action timelines and analyse ongoing policy debates, national implementation strategies, and the climate finance processes leading up to COP30. The session offered academics, negotiators, policymakers, and representatives from civil society groups and financial institutions to discuss and engage on the latest developments from law, policy and practice relating to climate finance. The session provided an evaluation of the Baku to Belém Roadmap from a range of perspectives.

The full graphics can be downloaded here High ResolutionLink opens in a new window and Web VersionLink opens in a new window

Opening Remarks

Professor Kerry Kirwan
Deputy Pro-Vice Chancellor (Research), University of Warwick and Professor, Warwick Manufacturing Group (WMG).

The Lord Teverson

Member, House of Lords (Industry and Regulators Select Committee) and Honorary Fellow, Institute for Global Sustainable Development (IGSD)

Dr. Fariz Ismailzade

Vice Rector of ADA University, Executive Secretary of the COP29 Scientific Council and Director of the Institute for Development and Diplomacy (IDD)

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Panel 1 Unpacking Climate Finance in the Multilateral Climate Regime 

Vicente Paolo Yu
Senior Legal Advisor, Third World Network (TWN), Visiting Research Fellow, UN Research Institute for Social Development (UNRISD), Associate Fellow, Geneva Center for Security Policy.

Katie Swan-Nelson

Economic Affairs Officer, Climate and Development Strategies Unit, Division on Globalization and Development Strategies, United Nations Conference on Trade and Development (UNCTAD)

Dr Jon Sward

Environment Project Manager, the Bretton Woods Project

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Panel 2 The Baku to Belem Roadmap: Challenges and Possibilities

H.E. Wael Aboulmagd

Assistant Minister of Foreign Affairs for Climate, Environment and Sustainable Development Department, Egypt

Dr Diego Pacheco

Head of the Bolivian Delegation and General Director of Living Well and Foreign Affairs, Vice presidency of the Plurinational State of Bolivia

David Bailey

Head of Global Climate Finance, UK Foreign and Commonwealth Office (FCDO)

Meena Raman

President, Friends of the Earth Malaysia and Head of Programmes, TWN

Rebecca Thissen

Global Advocacy Lead, Climate Action Network (CAN) International

 

In addition to the high-level discussions on climate finance and governance, the event featured a dedicated capacity-building element designed to support both early and mid-career researchers, as well as non-academic stakeholders (policy actors, civil society representatives, and practitioners). Over the course of two days, the event facilitated a two-way learning experience, where both academic and non-academic participants built the necessary skills and networks to engage meaningfully in the climate governance landscape, particularly in multilateral contexts like COP30.

A session on ‘Bridging Research and Policy for Multilateral Climate Negotiations’ was held on Tuesday, 4 March 2025 to strengthen capacity-building in climate finance and policy research, facilitating engagement between academics and key stakeholders involved in multilateral climate negotiations.

A workshop was held on Wednesday, 5 May 2025 on ‘Showcasing Research for Impact and Strategic Engagement: Bridging Academia and Policy for Collaborative Climate Governance’ build on the foundation established on Day 1, providing early career researchers with the opportunity to showcase their work. Participants engaged directly with stakeholders, receiving valuable feedback on their research and developing their networks to ensure the relevance of their work in the context of global climate finance and governance.

The full graphics can be downloaded here High Resolution Link opens in a new window and Web VersionLink opens in a new window

Explore the Full Programme for these sessions here 

From Baku to Belém: Mobilising $1.3 Trillion for Climate Justice and a 1.5°C Future