COP 30 summary
A Deal Achieved: Despite teetering near collapse, the negotiations ultimately yielded an agreement.
Adaptation Funding Delayed: Nations consented to triple the funding dedicated to adaptation—capital supplied by wealthy countries and critically required by vulnerable nations for protective measures. However, the target of approximately $120 billion annually was postponed until 2035, a five-year delay.
Fossil Fuels Omitted: The pivotal final decision made no mention of fossil fuels. This was due to intense opposition and fierce campaigning by petrostates, notably Saudi Arabia and its allies.
Transition Roadmap: A commitment outlining a roadmap for transitioning away from fossil fuels was excluded from the formal deal finalized in Belém. Nevertheless, Brazil supported an initiative outside the UN process, building upon a plan already backed by Colombia and roughly 90 other nations.
Deforestation Roadmap: A similar roadmap to halt deforestation also garnered the support of around 90 nations. COP30’s intentional location in the Amazon makes the scarcity of substantial measures within the core COP 30 text particularly disappointing.
Tropical Forests Forever Facility: Notwithstanding the formal text’s weakness, Brazil introduced the Tropical Forests Forever Facility—another effort outside the UN process. This is an investment fund designed to financially reward nations for maintaining their standing forests.
Just Transition Mechanism (JTM) Agreement: A major, widely welcomed achievement by civil society was the ratification of the Just Transition Mechanism. This plan, agreed upon by all nations, aims to ensure the global shift toward a green economy is conducted equitably, safeguarding the rights of all individuals, including workers, women, and indigenous people. Initial attempts earlier in the talks to allocate dedicated funding to the JTM were unsuccessful.
Emissions Gap Measures: Pressure to address the substantial disparity between national emissions reduction pledges and the cuts necessary to minimize the 1.5°C overshoot resulted in measures weaker than those desired by progressive nations. This shortfall will be addressed by an “accelerator” programme, which is scheduled to report its progress at the following year’s COP.