Brazil proposed a financial system reform plan to expand the scale of climate funds.

As the host country of the 30th United Nations Climate Change Conference, Brazil has proposed a vision for reshaping the global financial system, with the goal of providing $1.3 trillion in funding to developing countries annually by 2035. The report, titled "The $1.3 Trillion Roadmap from Baku to Belm," was co-written by Brazil and Azerbaijan, the host country of last year's UN Climate Change Conference, and emphasizes reforms to key financial institutions including the International Monetary Fund in order to channel climate funds to impoverished countries. The report also suggests possible new sources of revenue, such as taxing financial transactions and super-rich individuals. "If the international financial architecture is reshaped to achieve its original goal of safeguarding peoples prospects for a decent life, then the $1.3 trillion target will become a feasible global investment," wrote Andr Corra do Lago, Chair of the 30th UN Climate Change Conference, and Mukhtar Babayev, Chair of the 29th UN Climate Change Conference, in the report.