Energy and transition economics
2026-04-26
11 minute read
16 sources
COP31 and the climate finance gap: from Belem's USD 300 billion floor to a working Article 6 market
COP30 in Belem closed with a New Collective Quantified Goal of USD 300 billion per year by 2035, roughly a quarter of the African Group ask. The 2026 host fight between Australia and Turkey, the first ITMO trades under Article 6.2 and 6.4, and the slow walk of the Loss and Damage Fund will define whether the Paris architecture remains operative through the second NDC cycle.
The COP30 Mutirao political package agreed in Belem on November 21, 2025 delivered a New Collective Quantified Goal of USD 300 billion per year by 2035, with a stretch target of USD 1.3 trillion that defers the question of who pays. Climate Policy Initiative tracked USD 1.46 trillion in total climate finance flows for 2022, but mitigation...