The Developing Eight (D-8) has launched the Istanbul Initiative for Climate Action and Sustainable Development and called for mobilising at least $1.3trn annually in climate finance for developing countries by 2035, Egypt’s Minister of Local Development and Environment, Manal Awad, said on Sunday.

The initiative was announced through the Istanbul Declaration, adopted at the D-8 ministerial meeting in Türkiye ahead of the UN Climate Change Conference (COP31), according to a ministry statement.

Awad said the declaration reaffirmed member states’ commitment to the UN Framework Convention on Climate Change (UNFCCC), the Paris Agreement and the principle of “common but differentiated responsibilities and respective capabilities” as the cornerstone of international climate action.

She said the Istanbul Initiative aims to strengthen cooperation among D-8 members on climate resilience, sustainable development, green investment, technology transfer and implementation-focused partnerships in the lead-up to COP31 and beyond.

The declaration also called for establishing a D-8 environmental and climate cooperation platform to coordinate policies, exchange technical expertise and develop a joint roadmap covering climate adaptation, loss and damage, just transition, climate finance, the circular economy, clean energy, biodiversity and sustainable water management.

Awad said member states stressed the urgent need to scale up climate finance for developing countries and endorsed a collective goal of mobilising at least $1.3trn a year by 2035 from both public and private sources.

The declaration called for greater use of grants, concessional financing, green bonds, blended finance, risk-sharing mechanisms and private-sector investment, while urging developed countries to fulfil their climate finance commitments.

The minister said the declaration identified climate adaptation as a top priority for D-8 members and called for stronger international support for national adaptation plans, climate-resilient infrastructure, water resource management, food security and early warning systems.

It also welcomed the outcome of COP30, which called for adaptation finance to be tripled by at least 2035, and urged donor countries to honour their previous climate finance pledges.

The declaration reaffirmed that sustainable development and poverty eradication remain overriding priorities for developing countries, stressing that climate action should support economic growth, social welfare, food security and job creation.

It also highlighted Egypt’s presidency of COP27 and Azerbaijan’s presidency of COP29, while expressing support for Türkiye’s hosting of COP31.

The declaration welcomed the COP31 presidency’s Climate Implementation Bridge and Turquoise Alliance initiatives, which aim to accelerate climate project implementation and promote more resilient food systems.

It also called for the effective operationalisation of the Loss and Damage Fund, stronger policies to support a just transition, expanded circular economy measures and sustainable waste management, while welcoming proposals to establish a Global Zero Waste and Methane Fund to support methane reduction and waste management projects.

 

 

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