The United Nations Environment Programme Finance Initiative (UNEP FI) published a policy note ahead of COP30 in Belém, Brazil, setting out five negotiation areas it says could influence the enabling environment for investment and the credibility of national and corporate climate strategies. The issues include updated Nationally Determined Contributions due by 2025, covering actions through 2035, with an emphasis on “investable NDCs” that translate into sectoral pathways and stable policies. UNEP FI also points to negotiations on mobilising climate finance for developing countries following the COP29 New Collective Quantified Goal of at least USD 300 billion annually by 2035 and efforts to strive for USD 1.3 trillion per year, alongside the Baku to Belém Finance Roadmap and work on financing adaptation and economic resilience. Further areas include the expansion and interoperability of sustainable finance taxonomies, finalisation of technical rules for the UN-backed carbon market under Article 6.4 of the Paris Agreement, and expected COP30 decisions on a proposed Belém Action Mechanism for Just Transition within the UNFCCC’s Just Transition Work Programme. COP30 is expected to focus on finalising Article 6.4 technical rules before the market opens and on advancing decisions related to just transition governance, while Parties work to submit their updated NDCs by 2025.

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