Background 

By decision -/CMA.7, Parties decided to hold deliberations under the Veredas Dialogue on the implementation of Article 2, paragraph 1(c), of the Paris Agreement and its complementarity with Article 9 of the Paris Agreement, building on the Sharm el-Sheikh dialogue (2023-2025) and taking into account the concerns and safeguards outlined in paragraph 3 of the same decision.  

Paragraph 13 of decision -/CMA.7 requested the CMA Presidency to convene the ‘Xingu Finance Talks’ under the Veredas Dialogue and in consultation with the co-chairs thereof, as an annual high-level round table with a view to facilitating a cooperative exchange of views among all interested Parties and non-Party stakeholders, in particular academia, international financial institutions and the private sector, on practical solutions that address the challenges and opportunities in the implementation of Article 2, paragraph 1(c), of the Paris Agreement and its complementarity with Article 9 of the Paris Agreement 

The decision specified further organizational modalities of the Veredas Dialogue:  

• Co-chairs: The CMA Presidency, at each session, and in consultation with the respective constituencies, is requested to appoint two co-chairs for the Veredas Dialogue, one from a developed country Party and one from a developing country Party, each for a period of one year; 

• The Veredas Dialogue will be organized in an open, transparent and inclusive manner, be open to all Parties, and engage all actors, including governments and financial and non-financial sector actors;  

• At least one meeting per year under the Veredas Dialogue will be held in conjunction with the June Sessions of the Subsidiary Bodies (SB).   

• Submissions: Parties, the UNFCCC constituted bodies, the operating entities of the Financial Mechanism, international financial institutions, observers and other stakeholders, particularly from the private sector, were invited to submit views on the organization of the Veredas Dialogue via the submission portal by 28 February, on an annual basis;  

• Aims: The Veredas Dialogue and the considerations by the CMA should aim towards progressing support to Parties in their efforts to implement Article 2, paragraph 1(c), of the Paris Agreement in a nationally determined and facilitative manner and to contribute to other ongoing work and processes under the CMA, as appropriate; 

• Annual report: The co-chairs are requested to prepare an annual report on deliberations under the Veredas Dialogue, including the annual high-level round table (i.e. Xingu Finance Talks), during the respective year, for consideration by the CMA at each session;  

• Review of the Veredas Dialogue: The CMA decided to review the Veredas Dialogue at the tenth session of the CMA (November 2028).  

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2026 Co-chairs of the Veredas Dialogue

His Excellency, Ambassador André Corrêa do Lago, President of COP 30, CMP 20 and CMA 7, has appointed Debra-Lee Swanepoel and Ralien Bekkers as co-chairs for 2026 of the Veredas Dialogue. The Open letter of the COP 30, CMP 20 and CMA 7 President can be viewed here.