A Decade after Paris, World Must Urgently Close Financing Gap, Speed Action to Keep 1.5°C Limit Alive, Secretary-General Says at Climate Summit

Following are UN Secretary-General António Guterres' remarks at the thirtieth Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30) on the theme "10 Years of the Paris Agreement: NDCs and Financing", in Belém today:

Since the Paris Agreement was adopted 10 years ago, nationally determined contributions (NCDs) have been a barometer of countries' climate ambitions. The latest NDCs represent some progress.

But we must be honest in the 'Summit of truth': The plans and policies on the table are still far from enough. Science tells us it is still possible to keep temperature rise below 1.5°C by the end of the century. Yet, a temporary overshoot above 1.5°C, starting, at the latest, in the early 2030s, is now inevitable.

But we can manage the scale and duration of that overshoot and bring temperatures back down - if we take serious action now. Action requires deep emissions cuts - 60 per cent by 2035 to stay on track to meeting 1.5°C. The new NDCs deliver just a 10 per cent reduction. We need an acceleration plan to close the gaps in NDC ambition and implementation. And that acceleration must start here in Belém.

First, closing the gap means all countries submitting their new NDCs, without delay.

Second, closing the gap means creating the enabling conditions for countries to meet and exceed their commitments. NDCs must become a springboard for greater action. This means ensuring developing countries have access to the tools and technologies they need to transition to sustainable, just economies. And it means trade policies that support climate action, with developing countries building their own links to supply chains and channelling the economic benefits to their people.

Third, closing the gap means bringing all sectors together to seize the renewables revolution: by building modern grids and large-scale storage; scaling up energy efficiency; transitioning away from fossil fuels; reducing methane emissions; and slashing deforestation.

Throughout, the United Nations will play its part. Just as the Climate Promise supported over 100 developing countries in preparing their new NDCs, I have asked UNDP [United Nations Development Programme] to present a plan to support countries in implementing them.

And fourth - we must close the financing gap for both mitigation and adaptation. To keep the 1.5°C limit alive - and deliver universal energy access - annual clean energy investment in developing countries outside of China must rise more than fivefold by 2030.

Developing countries can't get there alone. The $300 billion promised to developing countries by 2035 must be fully mobilized. The Baku to Belém Roadmap to $1.3 trillion by 2035 must restore confidence that climate finance will flow predictably, fairly and at scale.

Multilateral development banks, as President Lula said, must be made bigger, bolder and better able to leverage far greater private investment at affordable cost.

Innovative forms of finance must be developed, including debt-for-climate swaps, risk-sharing mechanisms and bold instruments like the Tropical Forest Forever Fund, not forgetting the contribution of carbon markets.

And we must keep pressing forward on reforms of the global financial architecture, so it reflects today's world and serves the needs of developing countries.

At COP30, let's renew the great promise the world made a decade ago in Paris - by kickstarting a new decade of implementation and acceleration. Let's go further and faster - together. Thank you.