New Delhi, Nov. 6 -- The Brazilian COP30 and Azerbaijan COP29 Presidencies have released the much-awaited report on the 'Baku To Belem Roadmap To USD 1.3T' which documents how to deliver $1.3 trillion annually for developing countries from all international sources by 2035. It is a key issue for India because India had led a fierce pushback against the underwhelming finance deal at COP29 in Baku last year. The COP29 deal set a climate finance goal of "at least $300 billion per year by 2035" and launched the "Baku to Belem Roadmap to 1.3T." However, India identified specific problems that could fundamentally alter climate finance obligations. It also said the sum proposed for NCQG is too less and would be delivered very late. Now, the Baku to Belem Roadmap to 1.3 T identifies five action fronts on finance - Replenishing, Rebalancing, Rechanneling, Revamping, and Reshaping (5R) to deliver the 1.3 T by 2035 with USD 300 billion being a part of the overall goal. During a press conference on Wednesday, COP30 President Ambassador Andre Correa do Lago and COP29 President, Mukhtar Babayev confirmed that the report and its pathways to achieve the USD 1.3 trillion roadmap will not be negotiated on. Experts said this could lead to weakening of the implementation of the roadmap itself. Further, the plan focuses on process, not immediate funding - developed countries would publish forward-looking finance plans by end-2026 and the UN's Standing Committee on Finance would total those plans only in 2027. Under "replenishment", developed countries are to achieve manifold increases in the delivery of grants and concessional climate finance, including through bilateral and multilateral channels. Under "rebalancing," creditor countries, the International Monetary Fund and multilateral development banks will work together to alleviate onerous debt burdens faced by developing countries including through climate-resilient debt clauses, debt-for-nature/climate swaps, other state-contingent or prearranged facilities, providing support to reduce debt vulnerability, the report has said. Under "rechanneling"- multilateral development banks, development finance institutions, public development banks and multilateral climate funds to significantly scale the availability and quality of catalytic financial and risk mitigation instruments such as guarantees, foreign exchange hedging, insurance products, securitization platforms and risk-bearing capital including early-stage equity. To "revamp" the financial architecture, the report recommends that governments should mainstream climate, nature and just transition objectives into planning, budgeting and investment frameworks, respecting national needs and priorities and aiming towards whole-of-government, whole-of-economy approaches. Finally, the report recommends that countries "reshape" financial structures for enhanced capital flows. "Instead of arguing for $1.3 trillion, the Baku to Belem road map could have chosen to focus on using the agreed $300 billion effectively and efficiently by leveraging available concessional finance to crowd in and direct private commercial finance/capital with focus on global stock of capital ( and not annual flows), which is in excess of $ 200 trillion to long term low carbon transition, carbon dioxide removal and building climate resilience," said Dhruba Purkayastha, Advisor, ORF Middle East & Visiting Faculty, IIM Calcutta in a statement....