OPINION

Why climate finance is no longer enough

Oped, Laura Carvalho, Published on 11/11/2025

» With the UN Climate Conference (COP30) in Belém, Brazil, kicking off, it is clear that the world's widely shared commitment to a just energy transition is falling by the wayside. In the year since governments signed on to the agreement at COP29 to scale up climate finance -- with a goal of mobilising $1.3 trillion (42 trillion baht) annually by 2035 -- wealthy countries have been retreating from their pledges. Worse, these signs of bad faith are coming just as the costs of climate adaptation and decarbonisation in developing countries are mounting.