COP30 vision to enhance climate finance.. The role of national platforms to support green investments

Vision COP30To enhance climate finance.. The role of national platforms to support green investments

With the escalation of challenges related to the file ofClimate Finance, voices are increasing at the climate conference in its thirtieth session about finding effective and tangible solutions on the ground that enhance this file, as voices called for the necessity of establishing national platforms that support the financing process and enhance leadership and national ownership of the state. It was also announced that a center will be established to combine these platforms and connect them regionally to accelerate and create broad investments aimed at putting developing countries on the path of development. Sustainable.

Thirteen countries and regional blocs announced plans to develop national platforms through the Green Climate Fund Readiness Program at COP30, marking an important step to align global support and investments with national climate priorities. The National Platforms Center was also launched at the same event.

This was announced during a high-level ministerial event jointly organized by the Brazilian Ministry of Finance and the Green Climate Fund. Cambodia, Colombia, the Dominican Republic, India, Kazakhstan, Lesotho, Mongolia, Nigeria, Oman, Panama, Rwanda, South Africa and Togo also pledged to establish national platforms, and a regional platform was presented that brings together member states of the African Island States Climate Commission.

For the Minister of International Affairs of the Brazilian Ministry of Finance, Ms. Tatiana Roseto, the launch of the National Platforms Center reflects Brazil’s commitment to promoting concrete country-led solutions to scale up climate finance. “We are working to strengthen national capacities through our action plan, linking initiatives across different regional regions, and ensuring that developing countries lead the design of their own investment and transition strategies,” she said in a speech.

What is the concept of the National Platforms Center?

The Center is part of the COP30 Solutions Acceleration Plan and represents a step forward towards implementing the recommendations made in the report of the Conference of Finance Ministers of the Conference. The project establishes a new form of cooperation that strengthens national leadership and ownership in catalyzing climate finance for sustainable development. The center is coordinated by Brazil, which launched its own national platform – the Brazilian Investment Platform for Climate and Environmental Transition – in October 2024.

Operationally, the Center acts as a coordination mechanism that links countries with technical assistance, knowledge and financing, ensuring that global support systems effectively respond to countries’ needs rather than duplicating efforts.

Institutionally, the concept and development of this center is based on partnerships between major global initiatives to advance climate finance, including the Green Climate Fund, the NDC Partnership, the Climate Vulnerability Forum, the G20 Finance Ministers, the Finance in Common Initiative, the United Nations Development Programme, and the Global Capacity Building Alliance.

In addition, the Center’s coordination will be linked to ministerial networks, such as the COP30 Department of Finance Ministers, the Coalition of Finance Ministers for Climate Action, the Forum of the Most Vulnerable Countries, and the G20.

At the event held last Saturday, Mr. Pablo Vieira, Director of the Global Partnership for Nationally Determined Contributions, highlighted the work of the Country Platforms Center in creating a more coherent and effective support system; This helps countries access the resources and funding they need to design and operate national platforms and maximize their impact to accelerate the implementation of their NDCs.

Financing efforts to establish the National Platforms Center

The new initiative will be guided by a steering committee that includes a majority of developing country representatives. Organizationally, the National Platforms Center will operate through a general secretariat with limited resources, with support from the African Climate Foundation (ACF) during the pilot period.

The initial funding for the project amounts to approximately US$4 million, and will be used to support early activities, including governance, coordination, and knowledge exchange, in addition to an initial window for designing national platforms aimed at strengthening climate finance in its early stages.

By linking countries’ needs to existing initiatives and existing financing systems, the Center seeks to transform global ambitions into practical actions, and represents a major milestone in advancing the roadmap from COP29 in Baku to COP30 in Belem, and strengthening the financial and institutional structures for climate and development action.

Ms. Mary Shapiro, President of the Global Capacity Building Coalition, said: “Effectively designed national platforms are an essential tool for strengthening climate finance and directing it towards climate and development goals. Through the new Country Platform Center, the Global Capacity Building Coalition can help connect countries with the expertise and partners needed to accelerate progress.”

“Novi” is a model for an Egyptian national platform

Based on the necessity and inevitability of having a national platform that contributes to enhancing climate finance, Egypt launched the “Novi” platform; It is a national platform for water, food, and energy projects that was established in 2022. It is the first national platform linking investments across vital sectors. It is a national program that represents an effective regional model and an approach to facilitated financing to deal with issues of adaptation, mitigation, and resilience.

Egypt has developed a comprehensive national climate change strategy that includes key goals until 2050, and a group of priority projects (26 projects) until 2030, covering the three main pillars of climate action: mitigation, adaptation, and resilience, with a focus on a just transition to the green economy, through the axis of the relationship between energy, food, and water, as it can provide an effective, human-centered approach to addressing climate change impacts and drivers. Him.

Therefore,The Earth Guards Foundation believes that the presence of national platforms in various countries of the world is of utmost importance in strengthening efforts to confront climate change, and expanding the scope of green financing and investments in order to achieve Sustainable Development Goals (SDGs) and ensure a green future. The Foundation also highlights the “Novi” national platform as a living example of Egypt’s climate vision and development strategy; It represents a fundamental shift in dealing with water, food, and energy issues, and contributes effectively to achieving the 2030 Sustainable Development Goals (SDGs) by enhancing investments in vital sectors and consolidating the issue of climate finance.