By Abdullahi Lukman
UN Climate Change Executive Secretary, Simon Stiell, warned, Saturday that global climate efforts risk stalling without more reliable and accessible climate finance, calling it the “lifeblood of climate action.”
He was speaking during the High-Level Ministerial Dialogue on climate finance at COP30 in Belém, Brazil.
Stiell said finance remains critical for turning national climate plans into real progress, especially for developing countries relying on predictable support.
Despite growth in public and private climate funding since the Paris Agreement, he noted that current flows remain insufficient, unreliable, and unevenly distributed as climate impacts escalate and vulnerable nations face rising debt and limited funding access.
Developed countries were expected to double their collective adaptation finance from 2019 levels by 2025, and Stiell urged governments to triple outflows from UNFCCC climate funds—such as the Adaptation Fund and Least Developed Countries Fund—by 2030.
These resources, he said, directly determine whether nations can protect coastlines, adapt agriculture, and transition away from fossil fuels without worsening inequality.
He called for expanded public finance, simplified access procedures, reduced transaction costs, and new mechanism – such as guarantees, equity tools, blended finance, and debt-for-climate swaps – to unlock more private investment. Stiell stressed that climate finance is “not charity,” but “smart economics” central to global growth and resilience.
As countries prepare the next phase of reporting under Article 9.5, Stiell urged ministers to provide clear, actionable commitments to strengthen trust and demonstrate real progress. He said credible finance flows drive higher ambition and faster implementation, ultimately improving livelihoods and building a more resilient global economy.
Stiell appealed to governments to reaffirm the cooperative spirit of the Paris Agreement and prove that climate action can deliver broad, lasting benefits for people and the planet.
