As Brazil readies for COP30 climate talks, finance ministers offer plan for $1.3 trillion in yearly finance

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WASHINGTON/BRASILIA: A group of 35 finance ministers laid out suggestions on Wednesday for scaling climate finance to $1.3 trillion a year, a key demand by developing nations ahead of this year’s COP30 talks in Brazil.

In the first-of-its-kind report, the Circle of Finance Ministers led by Brazil proposes changes to financial areas such as credit ratings, insurance rates, and the lending priorities of development banks.

The 111-page document is meant as a guide for governments and financial institutions to boost the sums available for tackling…



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As Brazil readies for COP30 climate talks, finance ministers offer plan for $1.3 trillion in yearly finance


WASHINGTON/BRASILIA: A group of 35 finance ministers laid out suggestions on Wednesday for scaling climate finance to $1.3 trillion a year, a key demand by developing nations ahead of this year’s COP30 talks in Brazil.

In the first-of-its-kind report, the Circle of Finance Ministers led by Brazil proposes changes to financial areas such as credit ratings, insurance rates, and the lending priorities of development banks.

The 111-page document is meant as a guide for governments and financial institutions to boost the sums available for tackling…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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