Oil-producing countries have once again taken control of international climate talks. The latest draft agreement from COP30, shared on the summit’s last day, removes any mention of phasing out fossil fuels.
This topic was one of the biggest points of contention at this year’s summit, which took place over two weeks in Belem, Brazil, near the Amazon.
An earlier version of the text included different options for reducing hydrocarbon use.
Many nations, including Germany, Kenya, and vulnerable island states, wanted a clear ‘roadmap’ to support COP28’s promise for a ‘gradual reduction’ in fossil fuel use.
Even though oil, coal, and natural gas are key drivers of climate change, COP28 was the first time fossil fuels were explicitly mentioned after 30 years of talks.
This year, however, Saudi Arabia and other oil-producing countries refused to discuss a roadmap, according to officials who talked to Reuters. The text presented by the Brazilian presidency early Friday morning had no references to fossil fuels.
The draft can still be changed but needs unanimous approval from nearly 200 countries to be finalized.
On Thursday, the summit’s presidency met with major negotiating groups after a fire broke out at the venue, briefly stopping discussions. Although COP30 is set to end on Friday, it may go into the weekend, as often happens.
Funding and Trade Policies
The new text calls for tripling funds by 2030 for helping poor countries adapt to climate change impacts compared to 2025 levels. However, it doesn’t specify if this money will come from government funding or other sources—a point likely to upset poorer nations.
Investments in adaptation projects, like better infrastructure against extreme weather events, are crucial but often yield low returns. This discourages private sector involvement.
Additionally, the plan suggests that over the next three COPs there will be talks about the role of international trade in climate change with input from the World Trade Organization. This discussion has long been requested by countries like China but may put pressure on the EU due to its carbon border tax being frequently targeted.
