São Paolo, Brazil (November 8, 2026) — Today, Brazil’s COP30 Presidency released a report outlining measures to mobilize $1.3 trillion annually in climate finance for developing countries by 2035 — the level set under the New Collective Quantified Goal (NCQG) at COP29. The $1.3 trillion in international finance would complement domestic public and private finance.  

According to the report, the measures analyzed across six thematic areas could collectively deliver between $1.27 and $1.41 trillion in international climate finance flows by 2035. 

Following is a statement from Gaia Larsen, Director of Climate Finance Access, WRI: 

"This report shows that mobilizing $1.3 trillion a year by 2035 is achievable, but only with swift reforms across nearly every channel of finance.  

"Multilateral development banks need to take on more risk, more innovative international levies must be tapped, and developed countries must scale up — not roll back — their public funding, especially for the poorest and most vulnerable countries. Alongside stronger policies and market rules, these reforms can help unlock hundreds of billions in private investment for renewable energy, resilient infrastructure and other climate solutions."  

"While developed countries must lead, WRI research cited in the report shows that emerging markets are already helping finance climate action beyond their borders and can make a meaningful contribution to global climate finance goals. Developing countries can also help drive investment by working to unite fragmented financial partners around their green growth priorities.  

"The road to $1.3 trillion is long, but we have a clear sense of how to get there. The imperative at COP31 and beyond is to turn this blueprint into investment on the ground that builds resilient economies and improves peoples’ lives."  

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