The AFD Group at COP31

Building on the political progress made in Dubai, Baku and Belém, COP31 must turn commitments into action:

• Transitioning away from fossil fuels and pursuing the 1.5°C goal;
• Working toward $300 billion a year in public climate finance and $1.3 trillion in total annual financing by 2035;
• Tripling adaptation finance for developing countries.

The conference will also help lay the groundwork for the next global stocktake in 2028, which will assess progress to date. It will therefore be an important milestone for financial and development institutions, including the AFD Group, which are expected to play a growing role in implementing commitments and putting climate mitigation and adaptation pathways into practice.

The AFD Group’s participation in COP31 will focus on five priorities:

• Climate finance to help transform economies: Beyond maintaining financing at €6 billion a year, the challenge is to align all financial flows with low-carbon, resilient and nature-positive pathways.
• An integrated approach to climate and nature: Building on alignment with the Paris Agreement and extending it to the Kunming-Montreal Global Biodiversity Framework by 2027.
• Access to adaptation finance for the most vulnerable countries: Particularly least developed countries and small island developing states.
• Support for partner countries’ transition pathways: Including through country platforms and Just Energy Transition Partnerships.
• Stronger bilateral partnerships.

The AFD Group’s COP31 program will be available soon.