Despite the slow response to climate action by most countries this year, Brazil, the COP30 host, is hopeful that more nationally determined contributions will trickle in before the end of the year and that COP30 will move beyond polarising talks on finance. Brazil will launch the Tropical Forest Forever Facility (TFFF), a new financing model designed to value standing forests as essential global assets. This will be a key highlight of the climate talks, Ana Toni, CEO, COP30 Presidency, said to HT in an interview. Edited excerpts:
Q. Few countries have updated their NDCs so far. Are you expecting updated submissions from the EU and India?
A. At the UN Climate Summit in September, around 125 countries pledged to submit new 2035 NDCs before the end of the year, representing around 70% of global emissions. The COP30 Presidency is engaging with all partners to ensure continued progress towards the submission of more ambitious and comprehensive NDCs. This shows that the climate regime is working and that the great majority of countries are engaged.
Q. Do you have confirmation about US states participating?
A. Subnational governments and the US private sector have been essential partners in the COP30 process, actively engaging with the Action Agenda to accelerate the implementation of the Paris Agreement. We have been informed by “America All In” that several governors and mayors from the US will come to Belém. Also, dozens of subnational officials from around the world will gather in Rio de Janeiro from November 3–5 for the COP30 Local Leaders Forum, where they will showcase how local action is driving global climate progress.
Q. What initiative are you taking on deforestation and saving forests?
A. In Belém, we will launch the Tropical Forest Forever Facility (TFFF), a new, results-based financing model designed to finally value standing forests as essential global assets. The TFFF, which will be hosted by the World Bank, blends public and private capital to mobilise up to $4 billion per year across more than 70 tropical forest countries, providing verified, performance-based payments for maintaining forest cover. The TFFF is a long-term investment platform that rewards measurable results, ensuring sustainability beyond political cycles. At least 20% of national disbursements will go directly to Indigenous Peoples and local communities, recognising their critical role as stewards of the forest. The Facility has already drawn wide support from governments, investors, multilateral banks and civil society. Its launch will mark a turning point in global forest policy, shifting forests from being seen as vulnerable spaces to being recognised as engines of development, resilience and climate stability.
Q. Is this likely to be a COP dominated by Southern countries in the absence of the US and with the EU taking a quieter position? Where does that leave climate finance discussions?
A. Brazil’s priority at COP30 is to uphold and strengthen the accomplishments of the past COPs, while expanding our collective legacy. Our goal is to bring all Parties, as well as subnational governments, the private sector, academia, civil society and many other actors, into a shared ambition that accelerates emissions reductions while protecting people from climate impacts. Regarding climate finance, we must move beyond polarisation towards practical solutions by mobilising all sources of finance to deliver resources where they are most needed. President Corrêa do Lago and President Babayev are collaborating on the Baku-Belém Roadmap to mobilise $1.3 trillion in climate finance for developing countries by 2035. The Roadmap must serve as a fulcrum for leveraging finance towards low-carbon and climate-resilient pathways in these countries, acting as a critical enabler for accelerated climate action.
Q. Apart from negotiated agenda items, what will be the focus of COP30?
A. Beyond the negotiated outcomes, COP30 will focus on accelerating implementation through the COP30 Action Agenda, designed to move from pledges to real progress. Serving as the implementation engine of the Paris Agreement, the Action Agenda builds on the Global Stocktake as a roadmap for action, ensuring that commitments translate into measurable results. Structured around six thematic pillars — energy and industry transition; forests, oceans and biodiversity; agriculture and food systems; cities and resilience; human and social development; and enablers such as finance, technology and capacity-building — the Agenda’s 30 key objectives are being advanced by dedicated Activation Groups composed of governments, investors, businesses and civil society working collaboratively to scale solutions. COP30 launched the Granary of Solutions at the UN General Assembly in partnership with the Climate Champions Team. This seeks to evaluate past pledges and commitments, identify gaps and understand what can be accelerated to ensure faster reductions in emissions while protecting people around the world.
