Background

Decision 1/CMA.6 called on "all actors to work together to enable the scaling up of financing to developing country Parties for climate action from all public and private sources to at least USD 1.3 trillion per year by 2035". 

It also decided to "launch, under the guidance of the Presidencies of the sixth and seventh sessions of the CMA, in consultation with Parties, the “Baku to Belém Roadmap to 1.3T”, aiming at scaling up climate finance to developing country Parties to support low greenhouse gas emissions and climate-resilient development pathways and implement the nationally determined contributions and national adaptation plans including through grants, concessional and non-debt creating instruments, and measures to create fiscal space, taking into account relevant multilateral initiatives as appropriate; also requested the Presidencies to produce a report summarizing the work as it concludes the work by CMA 7".