The article argues that COP30 exposed deep structural weaknesses in the global climate finance system, where political economy, power imbalances and vested interests shape not only negotiation outcomes but also the nature of financial commitments. It shows that while the summit in Belém, Brazil reaffirmed ambitions like the $1.3 trillion per year climate finance goal by 2035, the pathways to achieving them remain weak, fragmented and overly reliant on debt instruments rather than predictable grants.

Key challenges include the fragility of pledges, where many commitments lack clear timelines, accountability mechanisms, or enforceable conditions, making them vulnerable to geopolitical shifts and economic pressures. The author highlights how the political leverage of rich countries continues to dictate the pace and terms of climate finance, often sidelining the real needs of developing and vulnerable nations.

The article underscores the disconnect between high-level targets and on-ground delivery, compounded by uneven ambition in updated Nationally Determined Contributions (NDCs) and financial structures that remain inaccessible for many low-income countries. It concludes that without structural reforms — including more equitable, transparent, and enforceable financing mechanisms — the global climate finance architecture will remain brittle and insufficient to meet the urgency of the climate crisis.