All eyes on global climate goals at COP30
In our newest episode of Nordic x Climate Talks, we discuss the key themes of COP30 and how Nordic countries can contribute to the global climate dialogue.
COP30 will bring together global leaders, governments, and changemakers to evaluate the existing progress and advance climate goals.
The Conference will provide a platform for discussing multiple key topics, notably the actions that countries must take to limit temperature rise to 1.5 degrees. Our guest for this podcast episode, Mattias Frumerie, Climate Ambassador and Head of Delegation to the UNFCCC at the Swedish Ministry of Climate and Enterprise, shares the main themes of COP30, which include the new Nationally Determined Contributions (NDCs), tracking the progress towards the Global Goal on Adaptation, new Gender Action Plan for the UNFCCC and scaling up climate finance through the Baku to Belém Roadmap.
COP30 marks a decade since the Paris Agreement was signed. This milestone highlights the progress that has been made on collective climate action, as well as the potential for further improvement.
“Ten years ago, we were headed towards some four degrees of global warming,” explains Mattias Frumerie. “We’ve reduced that gap. Now, we’re moving towards 2.5 degrees of warming. We need to recognise this progress, but we need to accelerate our efforts.”
Keeping the high ambition and scaling climate finance
At last year’s COP in Baku, the Parties agreed on the New Collective Quantified Goal for climate finance, which highlights that public and private financing are needed to bridge the urgent gaps in financing. This year, COP30 is expected to focus on the implementation of climate plans and agreements, including an implementation of the Baku to Belém Roadmap for the new financing goal, aiming to scale up climate finance to 1.3 trillion USD by 2035.
“All financial actors, including the 91Â鶹ӳ»´«Ã½, can be part of this and see what are the respective roles that we can play according to the various types of responsibilities and mandates that we have,” says Frumerie.
He adds that it is important for financial institutions, such as NDF, to “make sure that we can help to build capital markets, that we can find these kind of cutting edge projects which will help accelerate the transition and show that the solutions are out there and that we can jointly accelerate efforts to reach net zero.”
Long-standing tradition of Nordic collaboration on climate action
The Nordic countries have set a good example with their approach to climate action. Historically, the focus has been on fostering sustainable economies, transforming climate action into economic opportunities, and shifting away from fossil-based economies. This demonstrates our ability to grow our economies while reducing emissions.
“The general approach is something which we as Nordic countries are happy to share with the global partners in terms of how that transition to net zero can be met, whilst at the same time strengthening competitiveness and securing new jobs and growth for our economies,” highlights Mattias Frumerie.