The 2025 United Nations Climate Change Conference, or Conference of the Parties of the UNFCCC (United Nations Framework Convention on Climate Change), more commonly known as COP30, is being held in Belém, Brazil, from 10 to 21 November 2025.
As the host nation, Brazil has set out three main goals for COP30: reinforcing multilateralism and cooperation, connecting climate change to individuals and the economy, and accelerating implementation.
The International Energy Agency (IEA) has worked closely with Brazil’s COP30 Presidency to support this shared agenda and has provided comprehensive analyses to support the presidency’s priorities, including on analyses on: sustainable fuels, tripling renewables and doubling energy efficiency by 2030, expanding access to energy and clean cooking, scaling up investment in emerging and developing economies.
As part of the COP30 Action Agenda, the IEA also serves as Secretariat supporting the implementation of COP objectives on renewables, energy efficiency and energy access, supporting the translation of ambition into action.
Additional investments that can be supported by transition finance by cumulative amount and share under APS, 2025-2035.
*APS – announced policies scenario
*EMDE – emerging market and developing economies
Scaling up transition finance
One of the IEA’s key analyses informing COP30 discussions is the Scaling Up Transition Finance report, which provides practical guidance to drive investment in the clean energy transition. Achieving the climate and sustainability goals set out at COP requires significant emissions reductions from emissions-intensive sectors, companies and countries. Yet, many impactful measures struggle to attract adequate funding or green financing. This is where transition finance plays a role.
Transition finance helps emissions-intensive activities move towards sustainable practices aligned with long-term climate and development goals. While current flows remain modest, estimates suggest that USD 400 to 500 billion per year could be mobilised over the next decade, complementing green finance and targeting sectors and regions where emissions are hardest to reduce. The report covers the current landscape of transition finance, with detailed focus on three sectors:
- Cement and steel – How to support interim steps such as energy efficiency, waste heat recovery, and low-emissions production, ahead of reinvestment decisions by 2035
- Critical minerals – The potential to unlock projects that expand clean energy supply chains while mitigating broader environmental risks
- Natural gas – Actions to reduce methane emissions, lower the carbon footprint of liquefaction, and enable system flexibility under transparent, time-bound plans aligned with national decarbonisation strategies.
Interest in transition finance has grown, particularly due to mounting concerns about energy security and emissions reductions. To achieve meaningful results, financial flows from advanced economies to emerging and developing economies need to expand, and cooperation between governments, financiers and the private sector is essential to overcome barriers and reduce the risk of ‘financial carbon leakage’.
For more information visit: www.iea.org