Highlights and images for 12 November 2025

Halfway through the first week of the Belém Climate Change Conference, finance issues loomed large across negotiation rooms. Delegates considered the progress made by the Adaptation Fund Board, for instance with regard to gender mainstreaming and locally-led adaptation. Developing countries expressed concern over the Fund’s limited resources and the Independent Alliance of Latin America and the Caribbean (AILAC) called for the Board to prepare a strategy on tripling annual outflows—an objective defined in the decision on the new goal on climate finance agreed in 2024.

Want to dig deeper into today's talks? Read the full Earth Negotiations Bulletin daily report.

Discussions on finance flow alignment (Paris Agreement 2.1c) highlighted the convening power of the UN Framework Convention on Climate Change, with parties reflecting on engagement with multilateral development banks and financial regulators. However, developing countries cautioned against imposing access barriers—a worry they also underscored in discussions on indicators aimed at tracking progress towards the Global Goal on Adaptation.

Parties held on to their diverging views about the scope, expected outcome, and continuation of the mitigation work programme. While the Alliance of Small Island States, AILAC, and the European Union sought links to relevant Global Stocktake (GST) outcomes, this was opposed by the Arab Group and India. Similar fault lines were evident in the discussions on the annual Dialogue on how the GST informs the preparation of nationally determined contributions (NDCs), which the Like-Minded Developing Countries consider has fulfilled its mandate.

In the afternoon, the Brazilian Presidency held a very brief stocktaking plenary to report on progress in its consultations on the NDC synthesis report, the synthesis report of biennial transparency reports, the implementation of Paris Agreement Article 9.1 (developed countries’ provision of climate finance), and unilateral trade-restrictive measures. Upon Parties’ request, the Presidency consultations will continue and another stocktaking plenary will be held on Saturday, 15 November.