COP30: What Countries Agreed To

AFP/APP

Belém, Brazil: The COP30 climate summit concluded after two weeks in Belem, marked by protests, street marches, and even a fire. Beneath the tents on the former airport site at the edge of the Amazon, nearly 200 nations adopted key decisions to tackle climate change.

Fossil Fuels

The summit’s thorniest issues were grouped under the “mutirao” pact—Tupi-Guarani for “collective effort.” Nations agreed to collaborate voluntarily to reduce carbon emissions and aim to limit global warming to 1.5°C above pre-industrial levels.

Although COP28’s commitment to “transition away from fossil fuels” was referenced, the wording was not included in the final text due to political sensitivities. No mandatory roadmap to phase out fossil fuels was adopted. Instead, COP30 president Andre Correa do Lago proposed creating voluntary plans for countries willing to join, alongside a plan to halt deforestation.

Finance

Developing nations long complained about insufficient funds for adaptation measures to protect their economies from climate impacts. COP30 agreed to “triple adaptation finance by 2035.”

Rich countries committed $300 billion annually by 2035 in climate finance, though most currently goes to emission-reduction projects, not adaptation. The tripling target could mean around $120 billion is earmarked for adaptation, but observers note clarity is still needed.

Trade

For the first time, trade was included as a pillar of the COP30 agreement. A three-year dialogue will examine climate-related trade measures, addressing concerns from countries like China over taxes on carbon-intensive goods and barriers to green technology exports.

Forests

Brazil launched the Tropical Forests Forever Facility (TFFF), a global investment vehicle paying forest-rich countries for conserving trees. The initiative secured $5.5 billion in pledges from Norway, Germany, Indonesia, France, and Brazil, with a target of $125 billion in public and private investment. The fund will begin operations even if the full $25 billion startup capital is not yet raised.

Methane Pledges

Methane, the second-largest contributor to climate change after CO₂, is roughly 80 times more potent than CO₂ over 20 years. At COP30, seven countries—Britain, France, Canada, Germany, Norway, Japan, and Kazakhstan—pledged to achieve “near zero” methane emissions across the fossil fuel sector.