Oil-producing countries have once again imposed their agenda in international climate talks. The latest draft agreement from COP30, presented on the final day of the summit, removes any reference to phasing out fossil fuels.
This issue was one of the most divisive aspects of this year’s summit, held over two weeks in Belem, Brazil, near the Amazon.
In a previous version of the text, there were several alternative formulations for reducing hydrocarbon use.
Many countries, including Germany, Kenya, and vulnerable island states, pushed for a specific ‘roadmap’ to implement COP28’s commitment to ‘gradually reduce’ fossil fuel use.
Despite oil, coal, and natural gas being the main drivers of climate change, COP28 was the first time there was an explicit mention of fossil fuels after 30 years of negotiations.
This year, however, Saudi Arabia and other oil-producing countries refused to discuss a roadmap, according to officials who spoke to Reuters. In the text presented by the Brazilian presidency early Friday morning, any mention of fossil fuels had been withdrawn.
The draft, which can still be altered, requires unanimous approval from nearly 200 countries to be finalized.
On Thursday, the summit’s presidency held talks with major negotiating blocs after a fire broke out at the venue and temporarily halted discussions. Although COP30 is scheduled to conclude on Friday, it may continue into the weekend, as often happens.
Financing and Trade Policies
The new text calls for tripling funding by 2030 for adapting poor countries to climate change impacts compared to 2025 levels. However, it does not clarify whether these resources will come from government funding or other sources—a matter expected to cause discontent among poorer nations.
Investments in adaptation projects, such as enhanced infrastructure against extreme weather events, are critical but often yield low returns, discouraging private sector involvement.
Additionally, the plan foresees that over the next three COPs, there will be dialogue about the role of international trade in climate change with participation from the World Trade Organization. This discussion is a longstanding demand from countries like China but may pressure the EU since its carbon border tax is often targeted.
