Oil-producing countries once again imposed their agenda in international climate talks. The latest draft agreement of COP30, presented on the final day, removes any mention of phasing out fossil fuels.
This issue was one of the most divisive aspects of this year’s summit. It took place over two weeks in Belem, Brazil, near the Amazon.
Earlier versions of the text included several alternative formulations for reducing hydrocarbon use.
Many countries, including Germany, Kenya, and vulnerable island states, pushed for a specific roadmap. This would implement COP28’s commitment to a ‘gradual reduction’ of fossil fuel use.
Despite oil, coal, and natural gas being major drivers of climate change, COP28 was the first to explicitly mention fossil fuels after 30 years of negotiations.
This year, however, Saudi Arabia and other oil-producing nations refused to discuss a roadmap. Officials told Reuters that the Brazilian presidency’s draft presented early Friday morning removed all mentions of fossil fuels.
The draft still requires unanimous approval from nearly 200 states to be finalized.
On Thursday, the summit presidency held talks with major negotiating blocs after a fire temporarily halted discussions. Although COP30 is scheduled to conclude on Friday, it may continue into the weekend as often happens.
Funding and Trade Policies
The new text calls for tripling funds by 2030 to help poor countries adapt to climate change impacts compared to 2025 levels. However, it does not clarify whether these funds will come from government financing or other sources. This issue is likely to cause dissatisfaction among poorer nations.
Investments in adaptation projects, such as enhanced infrastructure against extreme weather events, are critical but often yield low returns. This discourages private sector involvement.
Additionally, the plan proposes that the next three COPs will include dialogue on the role of international trade in climate change. The World Trade Organization will participate. Countries like China have long demanded this discussion. However, it may pressure the EU due to its carbon border tax often being targeted.
