Brazil showcases finance ministers' plan for $1.3 trln in yearly finance

16/10/2025 6:34

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 climate change.



“Every year of delayed climate action raises both the investment needed and the risks faced,” the ministers said in a statement.



But it’s up to each country to decide whether – and how – to use it.



Speaking on the sidelines of World Bank and International Monetary Fund meetings in Washington, Brazil’s Secretary for International Affairs at the Ministry of Finance, Tatiana Rosito, said the report underlined the importance of finance ministers in the discussion.