COP30 president André Corrêa do Lago and Michael R. Bloomberg announce partnership to turbocharge global climate progress. Photo AI
COP30 president André Corrêa do Lago and Michael R. Bloomberg announce partnership to turbocharge global climate progress.
The two want to establish COP30 as a pivotal moment to launch a new era of economic growth fueled by clean energy innovation and investment in low-carbon and climate-resilient solutions.
A decade after the landmark Paris Agreement, COP30 carries the critical mandate to shape the next decade of global climate ambition, making it a key inflection point for setting bold climate goals for the years ahead.
As nations submit their new Nationally Determined Contributions (NDCs) for the next five years, world leaders will gather in Belém to assess global progress and determine how to turn their commitments into reality.
Bloomberg Philanthropies and the COP30 Presidency will work together to ensure NDCs empower and leverage local leaders, are supported with funding and capital, and help drive the global goal of tripling renewable energy capacity and halting and reversing deforestation by 2030.
This partnership will also support efforts to help meet the COP29 target of mobilizing at least $1.3 trillion annually by 2035 to help support developing countries address the impacts of climate change.
“Those who anticipate the radical changes ahead—countries, businesses, and individuals—will be the ones to thrive by embracing innovation, building resilience, and adapting quickly,” said COP30 President-Designate Ambassador André Corrêa do Lago.
“In a world of accelerating environmental and technological change, yesterday’s assumptions no longer apply. The transition of the global economy is already well underway, delivering energy independence and security, lower energy costs, and better jobs. Strong institutions and cohesive action are essential to turn climate risks into opportunities for investment, job creation, and long-term growth. This partnership will help mobilize businesses, local leaders, and communities to drive real solutions – at COP30 and far beyond.”
“Cities are on the frontlines of the climate crisis, and they need more support to tackle its causes and prepare for its effects,” said Michael R. Bloomberg, Founder of Bloomberg LP and Bloomberg Philanthropies and UN Special Envoy on Climate Ambition and Solutions.
“This partnership will empower local leaders to drive faster progress by expanding clean energy, cutting pollution, and strengthening economies. The more we work together, the more we can grow the economy, protect public health, and save lives.”
The partnership between Bloomberg Philanthropies and COP30 will support the COP President-Designate’s three key objectives: strengthening multilateralism, connecting climate talks to the reality of business and people, and advancing structural adjustments beyond the Climate Convention to accelerate the implementation of the Paris Agreement.
“Without UN-convened climate cooperation, we would be headed towards up to 5 degrees Celsius of global heating, which most of humanity could not survive. And we need much more progress achieved much faster, and so partnerships like this reflect the kind of decisive, collective leadership the world urgently needs,” said Simon Stiell, Executive Secretary of United Nations Climate Change.
“The engagement of the U.S. private sector and subnational governments in this Global Mutirão Against Climate Change is crucial in helping us to accelerate the implementation of climate actions, create new opportunities, and build a better collective future for all,” said Ana Toni, National Secretary for Climate Change at the Ministry of the Environment and Climate Change of Brazil and Chief Executive Officer of COP30.
“Their involvement is even more critical in this complex geopolitical moment. The global economy’s transition is unstoppable — our challenge is to change fast without leaving anyone behind.”
Beyond the official negotiations and the Leaders’ Summit, stakeholders and resources will converge through the COP30 Action Agenda to build a “granary of solutions” to accelerate climate action, technology, innovation, and finance.
For the first time, the incoming COP30 Presidency has also launched a global mobilization effort to engage civil society and surface real-world climate solutions that advance sustainable dedevelopment.
As part of the partnership, Bloomberg Philanthropies will host events and foster cross-sector dialogues to bolster global contributions from subnational actors – including cities, financial institutions, businesses, and civil society – and ensure they are better integrated within global climate discussions.
Building on an unmatched global track record of supporting city climate action, mobilizing climate finance from the private sector, and tackling the world’s toughest emissions challenges, Mike Bloomberg’s commitment will focus on galvanizing climate action across key tracks with a view to COP30 and beyond:
Catalyzing cities, states, and subnational action: In partnership with the C40 Cities Climate Leadership Group, the Global Covenant of Mayors for Climate & Energy, and America Is All In, Bloomberg Philanthropies will host the Local Leaders Forum to help advance the COP30 Presidency’s efforts to champion subnational climate leadership.
The Forum will bring together mayors, governors, and CEOs to promote ambitious climate action and strengthen collaboration at the local, national, and regional levels to deliver on the goals of the Coalition for High Ambition Multilevel Partnerships (CHAMP).
Engagement will also focus on mobilizing financing for urban climate projects and showcasing scalable solutions that reduce air pollution and carbon emissions while enhancing public health.
Leveraging private finance and mobilizing capital: Bloomberg will help bring together financial institutions to mobilize private capital to support the global transition and develop platforms, market mechanisms, digital infrastructure, and supportive policy environments to help increase the flow of transition finance economy-wide, particularly to emerging markets and developing economies.
This includes Bloomberg’s ongoing support for the Brazil Climate & Ecological Transformation Investment Platform (BIP), an initiative launched in October 2024 to accelerate Brazil’s ecological transformation by mobilizing capital toward sustainable development projects.
Accelerating global clean energy transition: Through strategic partnerships with governments, industry associations, the private sector, academia, and philanthropic organizations, Bloomberg will deliver data-driven insights, research, and recommendations to address market challenges and advance the global goal of tripling renewable energy by 2030.
This will include efforts to help unlock investment opportunities in Brazil by leveraging the country’s vast renewable energy resources to fuel the growth of green industries and position Brazil as a leading supplier of sustainable products to the world, including through the Industrial Transition Accelerator’s Brazil project.
Conserving and sustainably using the ocean and restoring nature: In partnership with leading organizations, Bloomberg Philanthropies will help advance efforts to achieve the global 30×30 target to protect 30% of the terrestrial and inland water areas and of marine and coastal areas by 2030.
This work will include support for local communities in protecting and managing Brazil’s vast mangrove forests, one of the largest contiguous mangrove systems in the world.
Bloomberg Philanthropies will also help drive innovative financing solutions to restore and regenerate degraded land and promote Brazil’s bioeconomy in line with the COP30 Presidency’s leadership in reversing Amazon deforestation.
This new commitment reinforces Mike Bloomberg’s long-standing support for the UN’s climate agenda and responds to UN Secretary-General António Guterres’ call for bold and decisive action ahead of this year’s COP in Belém.
It will also deepen the COP30 Presidency’s close collaboration with the UN Secretary-General to raise climate ambition, build political momentum around NDCs, promote information integrity, and drive public mobilization, building on the partnership launched by Secretary-General Guterres and President Lula at the 79th UN General Assembly in September 2024.
