Oil-producing countries have made their position clear in international climate talks again. The latest draft agreement from COP30, shared on the last day of the summit, takes out any mention of phasing out fossil fuels.
This topic was one of the biggest points of disagreement at this year’s summit, which took place over two weeks in Belem, Brazil, near the Amazon.
A previous version of the text included different ideas for cutting back on hydrocarbon use.
Many nations, like Germany, Kenya, and vulnerable island states, wanted a clear ‘roadmap’ to follow COP28’s promise to ‘gradually reduce’ fossil fuel use.
Even though oil, coal, and natural gas are major causes of climate change, the COP28 agreement 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. In the text presented by the Brazilian presidency early Friday morning, all mentions of fossil fuels were taken out.
The draft can still be changed and needs unanimous approval from nearly 200 countries to be finalized.
On Thursday, the summit presidency talked with major negotiating groups after a fire broke out at the venue, briefly stopping discussions. Although COP30 is set to end on Friday, it might go into the weekend, as often happens.
Financing and Trade Policies
The new text calls for tripling funds by 2030 to help poorer countries deal with climate change impacts compared to 2025 levels. However, it doesn’t say if this money will come from government funding or other sources—a point that may upset poorer nations.
Investments in adaptation projects, like stronger infrastructure against extreme weather events, are important but often yield low returns, making private sector involvement less likely.
Additionally, the plan suggests that in the next three COPs there will be discussions about how international trade relates to climate change with input from the World Trade Organization. This has been a long-standing request from countries like China but may put pressure on the EU since its carbon border tax is often targeted.
