BELMOPAN, Belize (CMC) — The Belize government has held the country’s first National Climate Finance Forum, identifying financing gaps and charting pathways for programmatic approaches to unlock larger-scale, multi-year climate funding.

Minister of State in the Ministry of Finance, Christopher Coye, said that climate finance can no longer be treated as peripheral to national development, but must instead form a central pillar of Belize’s financial landscape.

He said that Belize’s Nationally Determined Contributions (NDC 3.0) identifies a financing gap of US$455 million for mitigation and US$480.3 million for adaptation over the next 10 years, underscoring the urgency of mobilising resources at scale.

“Our task now is to seize opportunities, optimising our significant carbon asset base, pursuing blended climate finance, and transitioning from single projects to programmatic approaches that can deliver transformative change.

“This requires not only fiscal innovation but also strong partnerships with institutions like the Green Climate Fund, Adaptation Fund and Global Environmental Facility,” Coye told the forum that brought together senior government officials, international development partners, multilateral and bilateral agencies, private sector representatives, academia, and civil society.

Minister of State in the Ministry of Economic Transformation, Osmond Martinez, drew attention to the economic realities already being felt in Belize, noting the vulnerabilities of the country’s key sectors such as agriculture, fisheries, tourism, and infrastructure, all of which are increasingly affected by climate extremes.

“If we fail to align our development strategies with the realities of climate change, today’s villages and businesses may become tomorrow’s climate casualties. Our task is to ensure the story of our people is not one of loss, but one of resilience and opportunity,” Martinez added.

Minister of Sustainable Development, Climate Change and Solid Waste Management, Orlando Habet, reminded the forum that Belize has contributed little to global emissions yet remains on the frontline of climate impacts.

“Belize has shown leadership through its Blue Bond, its bagasse-to-energy project, and its comprehensive NDC, but we cannot achieve our ambitions alone. We need partnerships that match our ambition; financing that matches our needs; and solidarity that recognises Belize’s frontline role,” he said, underscoring the urgency of mobilising partnerships and finance to safeguard Belize’s future.

“By the end of today, let us leave with a clearer roadmap, a shared understanding of where finance can have the greatest impact, and a renewed commitment to work together,” he added.

The National Climate Finance Forum featured high-level panel discussions on aligning climate finance with Belize’s adaptation targets, unlocking access to international funds and designing the next generation of bankable climate projects.

It concluded with strong commitments from both government and development partners to continue expanding Belize’s access to concessional finance, leveraging innovative instruments such as green bonds, resilience bonds and carbon asset financing, while strengthening institutions to better implement large-scale climate programmes.