Nordic climate action at COP30
This year’s COP, which aim was to focus on how to implement global climate targets, was held in Belém, Brazil, in the Amazon – a region that is vital for our planet’s well-being.
The 30th UN Climate Change Conference took place from 10-21 November, 2025. After two weeks of negotiations, the COP has now reached an end with calling for mobilising at least 1.3 trillion USD per year by 2035, tripling climate adaptation finance by 2035 and operationalising the loss and damage fund, among other agreements.
NDF joined the conference to participate in various discussions relating to climate finance and to raise awareness on our operations together with strategic partners and through Nordic collaboration.
Highlighting early-stage and catalytic financing
At COP30 in Belém, NDF brought together thought-leaders and partners in the Nordic Pavilion to shed light on catalytic and early-stage financing in driving climate solutions. The event was an inspiring exchange of ideas, optimism, and collaboration.
Satu Santala, NDF’s Managing Director, set the tone with a message of hope and determination, reflecting the positive momentum felt throughout COP30. Her remarks paved the way for Hans Olav Ibrekk, Special Envoy for Climate and Security at the Norwegian Ministry of Foreign Affairs, who underscored the critical role of Nordic cooperation in tackling climate challenges. He emphasised NDF’s unique position in mobilising climate finance for the world’s most vulnerable regions and highlighted the ambitious Baku to Belém Roadmap, which aims to unlock USD 1.3 trillion annually by 2035 for developing countries.
The event culminated in a dynamic panel discussion featuring Stacy Swann, Managing Director of Blended Finance at IDB Invest, Sashi Jayatileke, Senior Director at World Climate Foundation’s IMCA Secretariat and Louise Herrmann, Lead Policy Specialist on Climate and Environment at Sida. Together, they explored innovative financing models, partnerships, and strategies to accelerate climate action where it matters most.
Satu Santala, Sashi Jayatileke, Louise Herrmann and Stacy Swann discuss climate finance at COP30. Photo: Kimmo Syväri
Making EUR 40 million available for adaptation in Africa
IMCA, together with its partners (NDF, Denmark and Iceland) have committed to make available EUR 40 million in catalytic capital and targeted technical assistance to support the first-ever Adaptation Financing Window for Africa (AFWA). This groundbreaking initiative aims design and scale innovative investment vehicles that address the growing climate risks threatening lives, livelihoods and economic development in Africa.
This initiative was launched at COP30, when our Managing Director Satu Santala announced and introduced AFWA and addressed the importance of co-creating solutions together with partners in Africa and supporting each other in mobilising investment in climate adaptation.
The event was opened by Her Majesty Queen Mary of Denmark, who highlighted the need to act fast, as climate change is accelerating rapidly. She emphasised that climate action requires collaboration and unity, and through AFWA, contributions from NDF, Denmark and Iceland, will prepare communities to the changing climate and show how climate adaptation can be investment-ready.
Her Majesty Queen Mary of Denmark opening the launch event. Photo: WCF
Launching first-ever Impact Bond for weather and climate data
The Systematic Observation Impact Bond, where NDF has had an active role, was announced as part of the COP30 Action Agenda, supported by the Government of Brazil as COP30 Presidency. If backed, the bond would enable 30 Least Developed Countries (LDCs) and Small Island Developing States (SIDS) to meet the requirements of the Global Basic Observing Network (GBON), which is the international standard for the weather and climate observations that underpin every forecast, climate action, and early warning system.
The Systematic Observation Impact Bond combines speed, accountability and partnership for the delivery of global public goods. It could catalyse rapid action through capital frontloaded by investors, supported by long-term donor commitments. The bond will be built on a broad coalition of governments, development agencies, philanthropies, and businesses.
NDF is proud to lead by example as an active partner and the very first donor to believe in SOFF. At COP30, Satu Santala, NDF Managing Director, moderated the official launch of the SOFF Impact Bond, underscoring its vital role in strengthening global climate resilience.
The launch of the SOFF Impact Bond at COP30. Photo: World Meteorological Organization